INVESCO Ltd (IVZ)

A contraction in the U.S. first-quarter GDP, which dragged benchmark indices on Wednesday, also appears to have weighed on Nike shares.

Core PCE, which excludes food and energy, also remained unchanged in March compared to the previous month but increased 2.6% from one year ago.

The first-quarter GDP contracted at an annual rate of 0.3%, marking the first quarter of negative growth since Q1 2022.

He also agreed that the 145% tariffs on Chinese imports were equivalent to a near-embargo.

Powell, appointed as Fed chair by Trump during his first term, fell out of favor with the president after stating he would wait for more clarity on the effects of the administration's broad tariffs before adjusting interest rates.

The Dallas Federal Reserve's business activity index for the Texas region fell 20 points to -35.8, the lowest reading since May 2020.

The stock could build additional momentum going into the company's first-quarter report, which is due after the market closes on May 5.

The bill seeks a ban on stock trading by lawmakers and their spouses during their time in office.

The rebound in the financial markets since last week is predicated on hopes of a potential trade deal between the two countries.

On Monday, the major averages settled on a mixed note as traders adopted a "wait-and-watch" approach following four straight sessions of gains.

According to a CNBC report citing CFRA Research data, the S&P 500 declined 7.9% from Trump's inauguration on Jan. 20 to the close of the session on April 25.

Investors ditched worries, boosting ETFs like VanEck SMH (+13%) on chip stock rally, Virtus BBC (+7%) on biotech hope, Simplify TESL (+31%) on Musk's focus, Invesco SPHB (+11.5%) on risk appetite, iShares IBIT (+9.2%) on crypto optimism. Market sentiment received boost from easing US-China trade tensions and news of no Fed Chair firing. S&P 500 recovered 80% of its post-April 2 sell-off, but warning signs remain with slowing private sector growth, declining consumer sentiment, and rising inflation expectations. ServiceNow (+20%) and Northrop Grumman (-15%) had divergent earnings, while Tesla (+31%) surged on Musk's promise to focus on making EVs. This week's action will be crucial.

The ECB official expects inflation to hover around the central bank’s target but cautioned that global trade disruptions are adding uncertainty to the outlook.

Bessent also pointed toward the strengthening of the Euro against the dollar since the tariff wars commenced and said that European countries are likely to be in panic given the strengthening of their currency.

He said that businesses would no longer feel comfortable relying on China for a large portion of their supply chain.

Trump also told Time Magazine that Chinese President Xi Jinping had called him to strike a tariff deal, but did not specify when the call was made or what the two leaders discussed.

Trump elaborated that although the bond market was nervous, he had a clear vision of what had to be done.

The order will expedite the extraction of minerals such as nickel, copper, and rare earth elements from the ocean floor — resources crucial to the production of electric vehicle batteries, wind turbines, and other clean-energy technologies.

U.S. equity markets are coming off a three-day rally, but escalating trade tensions and increasing uncertainty between the US and China have capped momentum.

He stressed that investors are increasingly wary of U.S. Treasury bonds, traditionally viewed as safe-haven assets, due to the unpredictability introduced by the trade war.

National Association of Realtors Chief Economist Lawrence Yun said that home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage rates.

The advance number for seasonally adjusted insured unemployment during the week ending April 12 fell to 1.84 million compared to 1.88 million in the previous week.