Today’s decline in the WEI for the week of May 2 is driven by decreases in steel production and retail sales, as well as a small drop in consumer confidence. The upward revision of the WEI for the week of April 25 is a result of the decline in this morning’s staffing index release being less negative than previously available data.
Daily summary: Semiconductors weigh on Wall Street 📉 Oil rises 3%, US30 cools after record highs
Nasdaq selloff 🚩 DeepSeek and Samsung earnings reaction sink semiconductor stocks
US Open: US100 loses 1% as semiconductors retreat 📉 BigTech stocks and DJIA gain
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