At a press event following his meeting with Italy’s Prime Minister Meloni, President Donald Trump touched on U.S.–China trade, tariff revenues, Federal Reserve leadership, and ongoing negotiations with major economies. Here are the highlights:

On China Trade Talks

• “We’re going to make a deal… I think we’re going to make a very good deal with China.”

• Not worried about recent visits between President Xi and U.S. allies: “No… nobody can compete with us—nobody.”

On Tariff Revenues

• “We’re getting 25% on cars, 25% on steel, 25% on aluminum… a 10% baseline on everything else.”

• “We’re taking in hundreds of billions of dollars”—a revenue stream the administration says it never saw before.

On Negotiations with Key Economies

• “We’re working on the big 15 economies first.”

• Treasury Secretary Scott Bessent: “Fantastic meeting with Japan… EU talks underway… Korea next week, India soon—moving very quickly.”

On Fed Chair Jerome Powell

• “He’s always too late, a little slow…I’m not happy with him. If I want him out, he’ll be out of there real fast.”

• White House insiders warn removing Powell could unsettle financial markets.

Market Impact & Sector Valuations

Trump’s remarks drove volatility across equities and fixed income, with tariff-sensitive sectors particularly on edge. To monitor how sector valuations are reacting in real time, consult the
🔗 Sector PE Ratio Market Overview API from Financial Modeling Prep.

Citi analysts revealed in a new note that Broadcom (NASDAQ:AVGO) has emerged as the most favored long position among semiconductor investors, surpassing Nvidia (NASDAQ:NVDA), based on feedback from their client meetings.

Citi’s Semiconductor Long Book

• Broadcom (AVGO)

  • Top pick: “Clearly the most popular long,” said Citi, citing Broadcom’s strong positioning in AI, recurring software revenue, and defensive qualities.

• Nvidia (NVDA)

  • Second place: Still highly regarded, but with a “reasonable drop off” in investor interest compared to Broadcom.

Defensive Alternatives

• Analog Devices (ADI)

  • Viewed as a defensive play thanks to high margins and a diversified business model.

• KLA (KLAC)

  • Favored for its leading edge wafer fabrication equipment (WFE) exposure and share gains at TSMC.

Popular Shorts

• Texas Instruments (TXN)

  • The most common bearish bet, driven by concerns over potential China tariffs affecting analog semiconductor demand.

Qualcomm’s Quiet Upside

• Under-the-Radar: Qualcomm (NASDAQ:QCOM) “did not come up at all” in investor conversations, suggesting low sentiment.

• Positive Catalyst Watch:

  • Citi raised Q2 sales estimates to $11 billion and EPS to $2.45, both well above consensus, on stronger-than-expected handset demand in China.

Sector Performance Tracking

To monitor how these semiconductor names are performing relative to the broader market and historical sector trends, investors can leverage the
🔗 Sector Historical Market Overview API from Financial Modeling Prep.
This API provides historical performance data and trends for the semiconductor sector, helping to contextualize current investor preferences and positioning.

This Citi client survey underscores a shift in sentiment within the semiconductor space, with Broadcom’s blend of AI exposure and stable software revenue making it the standout favorite among institutional investors.

Decoupling between the United States and China is accelerating rapidly, with both nations dismantling economic ties through higher tariffs and an expanding array of non‑tariff barriers, according to a new note from Capital Economics.

Key Takeaways

• Overdrive Decoupling

  • “U.S.‑China decoupling is going into overdrive,” driven by escalating reciprocal tariffs and fresh barriers that extend beyond simple duties.

• Tariff Trajectory

  • Elevated duties on both sides now suggest that most bilateral trade could cease within a couple of years if current trends persist.

• Non‑Tariff Measures

  • Recent moves include tighter U.S. export controls on advanced semiconductors and China’s suspension of Boeing deliveries and postal parcel services.

• Skepticism on a “Big Deal”

  • Despite former President Trump’s stated openness to negotiate, Capital Economics warns not to count on any substantive reset of U.S.–China relations.

Looking Ahead: Investment Flows as the Next Front

• “America First Investment Policy”

  • Released in February, this policy outlines potential restrictions such as delisting Chinese firms from U.S. exchanges and curbing cross‑border capital flows.

• Future Battleground

  • If decoupling continues, investment flows—from venture capital to public equity—are likely the next area of contention.

Real‑Time Forex Monitoring

As the U.S. and China drift apart economically, currency markets—especially the USD/CNY pair—become critical indicators of the relationship’s health. Track real-time exchange rates via the
🔗 Forex Daily API from Financial Modeling Prep.

Capital Economics’ outlook underscores a shift from targeted trade friction to broad economic disengagement. With tariffs and non‑tariff barriers set to tighten, both governments appear poised for a long‑term restructuring of one of the world’s most significant economic relationships.

GLJ Research’s Gordon Johnson warns that Wall Street’s consensus for Tesla (NASDAQ:TSLA) second‑quarter delivery growth may be significantly overstated, given rising trade tensions and early sales data indicating slowdowns in key regions.

Key Takeaways from GLJ Research

• Consensus vs. Reality

  • “The best investing opportunities arise when there are dislocations between what Consensus expects vs. what is most likely to happen,” writes Johnson, suggesting a material gap for Tesla deliveries.

• Challenging Projections

  • Johnson critiques independent analyst Troy Teslike’s forecast of:

    1. 27% quarter‑over‑quarter growth in Europe

    2. 25% growth in China

    3. 15% growth in the U.S.

    4. 41% growth in Other Markets

  • He points to Tesla’s own data showing a 32.3% year‑on‑year decline in China deliveries in the first half of the quarter.

Trade War Headwinds

• 2018 Precedent

  • The 2018 U.S.‑China trade war imposed a 25% reciprocal tariff on U.S.‑made vehicles, materially denting Tesla’s competitiveness.

• Current Tensions

  • With tariffs now at 145% on some Chinese exports and Beijing retaliating, Johnson warns that similar forces could again hamper Tesla’s global delivery volumes.

Brand Sentiment in Europe

• Elon Musk’s Polarizing Image

  • Musk’s favorability in Europe is near record lows—net –53 in the U.K. and –52 in Germany (YouGov, Jan 2025)—potentially curbing demand in a critical market.

Looking Ahead: Earnings and Delivery Announcements

• Earnings as a Catalyst

  • Tesla’s Q2 earnings release will provide official delivery figures and management commentary, a crucial test of these forecasts.

• Track the Date

  • Investors can monitor Tesla’s upcoming earnings date via the
    🔗 Earnings Calendar API from Financial Modeling Prep, which lists scheduled reports and actual delivery statistics once released.

Johnson’s analysis underscores a potential disconnect between bullish delivery models and on‑the‑ground sales data, suggesting investors should prepare for a possible downward revision in Tesla’s Q2 performance.

LVMH Moet Hennessy Louis Vuitton SE (EPA:LVMH) Chairman and CEO Bernard Arnault warned shareholders Thursday that escalating U.S.‑EU trade tensions risk undermining free trade—placing the onus on Brussels if negotiations fail to resolve looming tariff disputes.

Key Takeaways

• Blame on Brussels

  • “If Europe is not able to negotiate intelligently, there will be consequences for a lot of companies. It will be Brussels’ fault,” Arnault told attendees at LVMH’s annual shareholder meeting.

• Urgent Call for Free Trade

  • “Free trade with the United States and trust in trade must be restored,” he emphasized, citing growing uncertainty as a drag on business.

• Impact on Luxury Sales

  • LVMH started the year strongly, but “worsened from March due to economic turmoil linked to tariffs,” Arnault noted.

  • With roughly 25% of revenue derived from the U.S., the group faces both tariff headwinds and broader recession fears.

• Strategic Shift to Ultra‑High‑End

  • Rising inflation and interest rates are squeezing aspirational consumers; LVMH plans to double down on its most exclusive, high‑margin offerings.

  • Shareholders reinforced confidence in Arnault’s leadership, voting 99.18% in favor of raising the CEO age limit to 85.

Market and Investor Implications

• Share Performance

  • LVMH shares are down 36% year‑to‑date, outpacing declines in broader luxury indexes amid tariff concerns.

• Competitive Positioning

  • A renewed focus on ultra‑premium products may help buffer LVMH against volume pressure in more price‑sensitive segments.

• Policy Watch

  • Investors will be closely monitoring EU‑U.S. trade discussions for signs of tariff relief or further escalation that could impact margins and sales.

Track Industry Valuations

For real‑time valuation metrics and P/E comparisons across the luxury and consumer discretionary sectors, consult the
🔗 Industry PE Ratio Market Overview API from Financial Modeling Prep. This resource provides up‑to‑date industry multiples to help gauge relative valuation trends.

Bernard Arnault’s stark message underscores the stakes for Europe’s luxury powerhouses as geopolitical frictions threaten to reshape global trade patterns. LVMH’s pivot toward its highest‑end brands aims to insulate profitability even as macro uncertainties persist.

Taiwan Semiconductor Manufacturing Co (TSMC) (NYSE:TSM; TW:2330) delivered a blockbuster first quarter, posting a 60% jump in net profit and guiding higher for Q2 as AI-driven chip demand remains robust. However, management flagged potential risks from evolving tariff policies and rising fab costs.

Q1 2025 Financial Highlights

• Net Income: NT$361.56 billion ($11.12 billion), up 60% year‑on‑year (analyst median: NT$354.6 billion)

• Revenue: NT$839.25 billion ($25.81 billion), up 41.6% YoY (forecast: NT$835.17 billion)

• Gross Margin: 58.8%, down 0.2 ppt—impacted by earthquake disruptions and initial cost dilution at the new Japan fab

Q2 2025 Outlook

• Revenue Guidance: US $28.4 billion–$29.2 billion

  • +13% sequential growth

  • +38% YoY at midpoint

• Margin Forecast: Expected to ease by 80 bps to 58% as Arizona ramp‑up costs kick in

• 2025 Margin Pressure: Projected 2–3% hit from overseas fab expansions (Arizona, Kumamoto); 3–4% annual dilution in later years

Strategic Drivers and Risks

• AI Chip Demand:

  • TSMC reaffirms that AI accelerator revenue will double in 2025, underpinned by continued customer ramp‑ups.

• U.S. Investment:

  • A $100 billion U.S. expansion—announced at the White House last month—furthers TSMC’s global capacity footprint.

• Tariff Uncertainty:

  • “There are uncertainties and risks from the potential impact of tariff policies,” management noted, though customer ordering behavior remains unchanged so far.

• Operational Disruptions:

  • A 6.4‑magnitude earthquake in Taiwan and initial cost dilution from the new Japan fab weighed slightly on margins this quarter.

Monitor TSMC’s Valuation Metrics

For a deeper look at TSMC’s profitability and valuation trends—including P/E, ROE, and EV/EBITDA—investors can explore the
🔗 Ratios TTM Statement Analysis API from Financial Modeling Prep.
This API delivers up‑to‑date trailing‑twelve‑month ratios to track TSMC’s financial health as it navigates both growth opportunities and geopolitical headwinds.

TSMC’s robust Q1 performance and confident Q2 guidance underscore its pivotal role in the AI semiconductor boom—even as it braces for margin dilution from new fab investments and potential tariff shocks.

Bitcoin rose on Thursday as risk sentiment improved on signs that U.S. trade talks with Japan—and potentially China—may ease global uncertainty, even as the Federal Reserve signaled rates could remain high.

Price Snapshot (as of 09:20 ET / 13:20 GMT)

• Bitcoin: +1% to $84,621.0

• Intraday low: Near $83,000 on Wednesday

Trade Talks Spur Risk Appetite

• “Big progress” with Japan:

  • President Trump praised early negotiations with a Japanese trade delegation, calling the sessions a precursor to broader deals.

• China open to talks:

  • A Bloomberg report indicated Beijing is willing to start formal trade discussions—provided the White House shows “more respect.”

• Impact on Bitcoin:

  • Reduced tariff uncertainty tends to damp safe‑haven demand and boost appetite for risk assets, including cryptocurrencies.

Fed’s Stance vs. Trump’s Criticism

• Hawkish Fed:

  • Fed Chair Jerome Powell ruled out near‑term rate cuts, emphasizing the need to keep rates elevated to tame inflation.

• Trump’s Reaction:

  • On Truth Social, the president renewed his call to remove Powell, arguing rates should already be lower to support growth.

• Market response:

  • Elevated rate expectations can pressure risk assets, but trade optimism outweighed those concerns for Bitcoin on Thursday.

Track Bitcoin and Crypto Market Data

For up‑to‑date pricing, volume, and percentage change across major cryptocurrencies, use the
🔗 Cryptocurrency Daily Crypto API from Financial Modeling Prep.
This API delivers daily snapshots of Bitcoin and other top tokens, helping investors stay informed on market moves.

This blend of trade‑talk optimism and Fed caution created a volatile backdrop, yet Bitcoin managed to extend its rebound as investors balanced hopes for easing tariffs against the prospect of sustained high interest rates.

U.S. equities closed sharply lower on Wednesday, with the S&P 500 down 2.24%, as investors grappled with mixed signals from Nvidia (NASDAQ:NVDA) and Federal Reserve Chair Jerome Powell.

Major Index Moves

• S&P 500: ↓ 2.24%, approaching the 5,100 level

• Dow Jones: also retreated, dragging overall market sentiment lower

• Nasdaq Composite: underperformed, led by declines in chip and tech names

BTIG’s Jonathan Krinsky noted that with the S&P nearer 5,100 than 5,500, the downside momentum makes it “tricky to bottom fish,” suggesting a volatile, range‑bound environment similar to 2011.

Defensive vs. Cyclical Sectors

• Defensive Resilience:

  • Utilities, REITs, and Consumer Staples remained in positive territory, reflecting a shift toward safety.

• Cyclical Weakness:

  • Technology, Communication Services, and Consumer Discretionary each fell 5% or more, amplifying the market’s defensive posture.

• Transportation Index (TRAN): flirting with multi‑year support, its relative performance at lows not seen since 2004.

Catalysts for the Sell‑Off

1. Nvidia Export Restrictions

   • NVDA warned that new U.S. limits on its chip exports to China would have a “substantial financial impact,” rattling semiconductor and broader tech stocks.

2. Fed’s Caution on Growth

   • At the Economic Club of Chicago, Powell signaled that interest rates may remain elevated if data don’t clearly show a slowdown in inflation, heightening concerns over economic growth.

Where to Watch Next

The market’s bias toward defensive sectors suggests investors are bracing for further volatility and looking for refuge. To track how sector allocations are shifting in real time—especially as ETF flows reflect these defensive rotations—use the
🔗 ETF Sector Weighting – ETF Holdings API from Financial Modeling Prep.
This API delivers up‑to‑date breakdowns of sector exposures within major ETFs, helping pinpoint where capital is moving amid market stress.

With growth fears and trade‑linked uncertainties in focus, the U.S. market is likely to remain choppy. Observing sector rotations and Fed‑sensitive indicators will be key to navigating the weeks ahead.

Asian equities recovered on Thursday as optimism around U.S. tariff negotiations coincided with key macro releases and central bank scrutiny. Investors also eyed Taiwan Semiconductor Manufacturing Co’s (TW:2330) upcoming Q1 results for insights into the chip sector’s momentum.

Tariff Talks Ease Some Concerns

• U.S.–Japan Negotiations: President Trump said “big progress” was made in talks with a Japanese trade delegation, marking the start of formal negotiations to resolve U.S. tariff tensions.

• China Open to Dialogue: A Bloomberg report revealed Beijing is willing to begin trade talks—provided the U.S. grants it “more respect.”

Macro Highlights

• Bank of Korea Rate Decision: All eyes were on Seoul as the Bank of Korea met to set its policy rate amid global policy divergence.

• Japan Trade Data: March exports and imports figures were released, reflecting early signs of trade flows under the new tariff regime.

• Australia Jobs Report: Employment data for March showed whether labor market strength can offset rising household pressures.

Market Performance

• Japan:

  • Nikkei 225: +1.1%

  • TOPIX: +1.0%

• Australia: S&P/ASX 200: +0.5%

• Singapore: Straits Times Index: +0.6%

• China:

  • Shanghai Composite: +0.2%

  • CSI 300: Flat

• Hong Kong: Hang Seng: +1.7%

• India: Nifty 50 opened –0.4%

U.S. futures also traded higher after Wednesday’s sharp declines in major benchmarks.

Sector and Company Watch

• Tech & Autos: Continued sensitivity to tariff exemptions kept semiconductor and automotive stocks in focus ahead of TSMC’s earnings release.

• Financials: Banks and insurers remained cautious around central bank decisions and trade-driven growth risks.

Track Key Economic Releases

To follow these and other important macro indicators—like interest rate announcements, trade stats, and jobs data—use the
🔗 Economics Calendar – Economics Data API from Financial Modeling Prep.
This provides real‑time scheduling and historical data on global economic events.

Asian markets rallied on the back of easing trade rhetoric and a slate of pivotal economic updates, but upcoming data releases and TSMC’s results will be critical in determining if the rebound can be sustained.

Netflix (NASDAQ:NFLX) reported first-quarter 2025 results on Thursday that outpaced Wall Street estimates, powered by recent subscription price increases and a surge in demand for its ad‑supported tiers. Shares climbed 3% in after‑hours trading on the strength of the quarter.

Q1 Performance Highlights

• EPS: $6.61 vs. consensus $5.69

• Revenue: $10.54 billion (+13% YoY) vs. consensus $10.50 billion

• Operating Income: $3.35 billion (+27% YoY)

Netflix attributed the outperformance to “slightly higher subscription and ad revenue and the timing of expenses.”

Q2 & Full‑Year Guidance

• Q2 Revenue Growth: +15%, driven by price changes and membership/advertising gains

• Q2 Revenue: $11.04 billion vs. consensus $10.9 billion

• Q2 EPS: $7.03 vs. consensus $6.24

• Q2 Operating Margin: 33% (+6 pp YoY)

For full‑year 2025, Netflix reiterated its revenue target of $43.5 billion to $44.5 billion and an operating margin goal of 29%, in line with the consensus around $44.3 billion in sales.

Capital Returns & Global Reach

• Share Repurchases: 3.7 million shares bought back for $3.5 billion—the largest quarterly buyback in company history.

• Production Footprint: Original content produced in over 50 countries, underscoring Netflix’s global scale.

Key Data APIs for Investors

To track Netflix’s upcoming earnings and assess its historical performance, consider these FMP APIs:

• Earnings Calendar API
  Stay updated on Netflix’s next earnings date and other critical financial announcements.

• Earnings Historical API
  Analyze past EPS and revenue results to gauge the consistency and momentum of Netflix’s earnings beats.

With robust guidance and a record buyback, Netflix looks set to maintain momentum—especially if its ad‑supported tier continues to attract new viewers. Investors should monitor upcoming earnings dates and compare them against historical trends to validate the sustainability of this growth trajectory.

On Thursday, U.S. equity benchmarks gave back much of their earlier gains as investors weighed ongoing tariff uncertainties and a mixed slate of corporate results. With markets closed on Friday for Good Friday, all three major indices are headed for weekly declines, and the Nasdaq Composite is flirting with bear‑market territory (down 20% from its peak).

Thursday’s Market Close

• Dow Jones Industrial Average: –527 points (–1.3%)

• S&P 500: +0.2%

• Nasdaq Composite: –0.1%

Corporate Earnings Roundup

• UnitedHealth (UNH): Shares plunged 22% after the insurer cut its annual profit forecast, citing higher‐than‐expected medical costs.

• Eli Lilly (LLY): Jumped 14% on positive Phase 3 trial results for its oral type 2 diabetes drug, orforglipron.

• Blackstone (BX): Rose 0.8% after reporting Q1 profits above expectations, driven by asset sales in its private equity and credit divisions.

• TSMC (TSM): Closed marginally higher despite giving back early gains; first‐quarter net profit jumped 60%, fueled by strong AI chip demand.

• Hertz (HTZ): Extended its rally—up another 56%+ over two sessions—after Pershing Square disclosed a large new stake.

• Alphabet (GOOGL): Fell 1.4% following a court ruling that found Google’s ad‑tech business violated antitrust laws.

Trade Talks and Macro Drivers

President Trump reported “big progress” in U.S. negotiations with Japan, the first major partner to discuss tariff adjustments directly in Washington. Europe’s Ursula von der Leyen has expressed willingness to give talks a chance, while China remains open to dialogue—provided the U.S. moderates its rhetoric.

To keep track of scheduled economic announcements (including tariff negotiations, CPI data, and central bank decisions), investors can use the Economics Calendar API:Economics Calendar API

Market Movers and Liquidity

For a real‑time view of today’s top gainers and losers across U.S. exchanges—use the Market Biggest Gainers API: Market Biggest Gainers API

In addition, traders often look at the Market Most Active API to gauge liquidity and volume dynamics during volatile sessions.