Last week, U.S. markets experienced strong growth, with significant gains across major indices following a truce in U.S.-China trade tensions. The Nasdaq Composite rose 7.15%, driven by a substantial reduction in tariffs imposed by both countries. The tech sector also gained momentum after Saudi Arabia expressed interest in purchasing advanced U.S. AI technology. Despite the optimism, consumer sentiment dipped and retail sales growth slowed, indicating underlying economic uncertainty. Meanwhile, inflation and producer prices showed signs of stabilizing, adding a complex layer to the market dynamics.
The Nasdaq Composite surged 7.15% and led major indexes due to a 90-day suspension of tariffs between the U.S. and China, boosting investor sentiment.
Despite the optimism surrounding tariff reductions, retail sales data showed a softness, indicating potential caution among consumers post-March's surge.
Saudi Arabia's intent to purchase advanced U.S. AI chips contributed to a positive tech sector outlook, reflecting growing global demand for technology.
Inflation data indicated consumer prices rose at the slowest pace since early 2021, suggesting that companies may be absorbing some cost increases.
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