Global Markets:
- Asian Stock Markets : Nikkei down 2.26%, Shanghai Composite down 0.38%, Hang Seng down 1.03% ASX up 0.16%
- Commodities : Gold at $3116.35 (0.80%), Silver at $35.3 (0.48%), Brent Oil at $73.05 (-0.15%), WTI Oil at $69.6 (-0.14%)
- Rates : US 10-year yield at 4.337, UK 10-year yield at 4.7880, Germany 10-year yield at 2.7735
News & Data:
- (USD) Final GDP q/q 2.4% to 2.3% expected
- (USD) Unemployment Claims 224K to 225K expected
Markets Update:
Most Asia-Pacific markets fell on Friday as U.S. President Donald Trump’s tariff threats unsettled investors. Japan’s Nikkei 225 dropped 2.09%, reaching a two-week low, while the Topix fell 2.19%. South Korea’s Kospi declined 1.76%, and the small-cap Kosdaq lost 1.44%. Hong Kong’s Hang Seng Index slipped 0.41%, while China’s CSI 300 dipped 0.25%. Australia’s S&P/ASX 200, however, rose 0.36% after Prime Minister Anthony Albanese announced a national election for May 3.
Investor attention remains on automakers after Trump’s announcement of 25% tariffs on all cars not manufactured in the U.S. Automaker stocks slid on Thursday in response. However, Trump later suggested the April 2 tariffs would be “very lenient” and even hinted at easing tariffs on China to facilitate a deal with ByteDance’s TikTok. Trump also signaled a willingness to impose even higher tariffs on the European Union and Canada if they oppose U.S. trade policies. These remarks have heightened market uncertainty.
U.S. stock futures remained little changed as investors weighed the impact of ongoing trade tensions. Overnight, major U.S. indices closed lower. The Dow Jones Industrial Average lost 155.09 points (0.37%) to 42,299.70. The S&P 500 declined 0.33% to 5,693.31, while the Nasdaq Composite fell 0.53% to 17,804.03.
With trade policy uncertainty persisting, markets will likely remain volatile in the coming sessions.
Upcoming Events:
- 12:30 PM GMT – CAD GDP m/m
- 12:30 PM GMT – USD Core PCE Price Index m/m
