To The Moon

U.S. Stock Market Rebounds as Investors Await Key Tariff Decision from Trump

🇺🇸 S&P 500 Index: 0.38% 📈

🇺🇸 Nasdaq Index: 0.87% 📈

🇪🇺 Stoxx 600 Index: 1.07% 📈

🇯🇵 Nikkei 225 Index: 0.02% 📈

🇭🇰 Hang Seng Index: 0.38% 📈

🇨🇳 CSI 300 Index: 0.02% 📈

🇸🇬 Straits Times Index: -0.09% 📉

The U.S. stock market rose, with the S&P 500 and Nasdaq Composite climbing 0.4% and 0.9%, respectively, driven by a rebound in major tech stocks, which had been heavily sold off earlier this year. However, market sentiment remains cautious as investors await the Trump administration's upcoming tariff measures.

U.S. job openings in February fell to 7.57 million, down from the revised 7.76 million, mainly due to declines in retail, finance, accommodation, and food services. Meanwhile, the layoff rate remained low, but layoff announcements increased, particularly in the federal government sector. The hiring rate remained unchanged at 3.4%.

The Eurozone's March CPI slowed to 2.2% year-on-year, the lowest since November 2024, slightly below the market expectation of 2.3%. Core CPI fell from 2.6% in February to 2.4%, also below the expected 2.5%. However, month-on-month CPI rose 0.6%, the highest in nearly a year, sparking discussions within the European Central Bank on whether to cut rates this month.

Asia-Pacific markets showed weak performance. The Hang Seng Index rose 0.4%, and the CSI 300 Index remained flat. The Hang Seng $HSI(HSI)$   rebounded from a four-week low as manufacturing activity expanded at the fastest pace in four months, easing some concerns over potential retaliatory tariffs.

Upcoming Events:

Wednesday: U.S. ADP Non-Farm Employment Change data will be released.

Thursday: U.S. Initial Jobless Claims and ISM Services PMI, as well as China's Caixin Services PMI, will be published.

Friday: The U.S. will release Non-Farm Payrolls, Unemployment Rate, and Average Hourly Earnings data, followed by a speech from Federal Reserve Chairman Jerome Powell. Japan will also release Household Spending data (month-on-month and year-on-year).

Things to Know Today:

1. Trump to Announce "Reciprocal Tariffs" on Wednesday, Targeting the So-called "Dirty 15" Countries

Trump has labeled this day as "America Liberation Day" and a "crucial moment," heightening market attention on the upcoming tariff policy. The "Dirty 15" refers to countries that the White House believes impose unfair trade barriers or high tariffs on U.S. goods.

Countries Trump will add tariffs on

2. U.S. Government Eases Stance on CHIPS Act

The administration signed an executive order establishing the "United States Investment Accelerator" under the Department of Commerce, accelerating the disbursement of $52.7 billion in semiconductor subsidies to attract more investments in the U.S.

CHIPS Act

3. Trump to Make Final Decision on TikTok by Wednesday

With the April 5 deadline for divestment or a ban looming, reports suggest Blackstone Group $Blackstone Group LP(BX)$   is in talks with ByteDance's non-Chinese shareholders about a potential bid.

TikTok deal

4. Intel CEO $Intel(INTC)$  Lip-Bu Tan Announces Plans to Divest Non-Core Businesses

The company will develop customized chips and focus on regaining lost engineering talent, improving financials, and optimizing manufacturing. However, he did not specify which businesses would be divested.

Evolution by new Intel CEO

5. Tesla's $Tesla Motors(TSLA)$  Vehicle Registrations in Italy Rebound by 51% in March

This reverses February's 54% slump, but Q1 registrations are still down 7% year-on-year. Analysts attribute this to increasing competition from Chinese EV brands and potential backlash against Musk's political stance.

Tesla sales in Italy

Key Takeaways:

The U.S. stock market recorded its biggest quarterly decline since 2022. The S&P 500 and Nasdaq Composite plunged -4.6% and -10.5%, respectively, amid rising uncertainty over Trump's economic policies, especially the new round of tariffs. Previous tariff hikes have already affected aluminum, steel, and automobiles, and further increases on Chinese goods are expected.

@Daily_Discussion  @TigerStars  @Tiger_comments  @TigerGPT