US commerce fell, however markets shrugged off the decline, with the Nasdaq 100 bouncing again to pre-Liberation Day ranges. Every week, we take you thru the final seven days in seven charts.
1. A Unfavorable Print for US GDP Development in Q1
shrank 0.3% in Q1 2025, falling wanting expectations of a 0.3% enhance, and marking the primary quarterly contraction since Q2 2022.
The GDP was damaging for simply two causes:
- Commerce, pushed by a surge in imports forward of anticipated tariffs, subtracted 4.83 proportion factors from GDP
- The federal government sector deducted 0.25% from GDP, marking its first damaging contribution since 2022
—which accounts for roughly two-thirds of GDP—grew at a modest 1.8% fee, the slowest tempo since mid-2023, contributing simply 1.2 proportion factors to first-quarter GDP.
Supply: www.zerohedge.com
2. A New Historic Low for US Commerce Stability in March
In response to the US Census Bureau, the US commerce stability which consists of exports minus imports hit an all-time low of -$161.99B in March. Exports noticed solely a modest rise of $2.2B, totalling $180.8B for the month. On the flip facet, there was a pointy enhance in imports, which climbed $16.3B to a report $342.7B, pushed by a 27.5% enhance in shopper items.
Supply: The Market Ear
3. A Lot of Noise for Nothing?
In the event you appeared away for a second in April, you’d by no means have guessed the world briefly flirted with what felt like an existential disaster—rumours of the tip of US exceptionalism and extra. But, nearly unbelievably, the has absolutely clawed again its submit–Liberation Day losses. April was a whiplash-inducing month for merchants: a 16% peak-to-trough plunge within the first week, adopted by a surprising ~18% rally within the weeks that adopted.
Supply: Barchart
4. Solely European Traders Dumped US Shares
The remainder of the world— together with China— is shopping for…
Supply: Goldman Sachs World Funding Analysis
5. Central Banks Are Massive Consumers of Gold
In 2024, Poland’s central financial institution emerged as the most important official purchaser of , a strategic transfer that provides to the listing of issues the nation appears to be getting proper.
Supply: Michel A.Arouet
6. Is This One of many Most Essential Charts to Contemplate?
As Tavi Costa notes, the rise of AI alone might generate an electrical energy demand equal to including a whole US-sized economic system inside the subsequent 5 years. One side that is probably not getting sufficient consideration is the widening vitality consumption hole between the US and China. If the development towards onshoring accelerates, the US might face a comparable spike in energy wants. The sectors prone to profit? Metals, mining, and infrastructure stand out as prime candidates.
Supply: Tavi Costa, Crescat Capital
7. The Iberian Peninsula… Wiped Off the Map of Lights
On Monday, a significant energy outage swept throughout Spain, Portugal, and components of southwest France, disrupting life in main cities comparable to Madrid, Barcelona, and Lisbon.
The blackout affected houses, workplaces, public transport, visitors methods—and even halted play on the Madrid Open tennis match—plunging hundreds of thousands into disarray. Governments and grid operators in Spain and Portugal scrambled to establish the trigger and restore energy.
Supply: AFP
