To The Moon

Market Diverges Amid US Tariffs and Tech Sanctions

🇺🇸 S&P 500 Index: -0.33% 📉

🇺🇸 Nasdaq Index: -0.53% 📉

🇪🇺 Stoxx 600 Index: -0.30% 📉

🇯🇵 Nikkei 225 Index: -0.60% 📉

🇭🇰 Hang Seng Index: 0.41% 📈

🇨🇳 CSI 300 Index: 0.33% 📈

🇸🇬 Straits Times Index: 0.45% 📈

US stock markets closed lower, with the S&P 500 and Nasdaq down 0.3% and 0.5%, respectively, as investors weighed President Donald Trump's latest tariff announcements, including new tariffs on foreign automakers.

The Hang Seng Index rose 0.4% and the CSI 300 Index gained 0.3%, as investors appeared unfazed by Trump's auto tariffs and restrictions on Chinese tech stocks.

Upcoming Events

On Friday, Japan will release housing starts data, while the US will publish the Core PCE Price Index, as well as personal income and spending figures, marking the end of this week's economic data releases.

Key Market Updates

1. Last week, US initial jobless claims saw a slight decline, with unemployment appearing stable in March. For the week ending March 22, initial state jobless claims fell by 1,000 to a seasonally adjusted 224,000.

US jobless claims

2. Amid escalating global trade tensions and stock market declines, investors sought safe-haven assets, pushing gold $SPDR Gold Shares(GLD)$  $SPDR Gold MiniShares Trust(GLDM)$  to a record high on Thursday. This came after President Trump announced new tariffs on imported cars.

Gold

3. Trump stated that if the EU and Canada "harm the US economy," the US will impose additional tariffs on them.

US vs EU and Canada

4. India's new central bank governor, in office for 100 days, has implemented pro-growth monetary policies and signaled a willingness to cut interest rates further and maintain ample liquidity to counter economic challenges from global trade turbulence.

India Central Bank Governor

5. Lululemon Athletica Inc. $Lululemon Athletica(LULU)$  expects moderate growth in its US business this year. While consumers are responding well to new product launches, economic uncertainty remains. The company reported Q4 net income of $748.4 million, up from $669.5 million a year ago.

Lululemon

Key Takeaways

Major indices have mostly maintained slight gains this week as investors digest Trump's tariff announcements. 

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