U.S. stock futures declined ahead of retail sales data
Dow Jones Industrial Average futures fell 0.5%, while S&P 500 futures and Nasdaq 100 futures dropped 0.9% and 1.5%. And Nvidia shares fell 6% after announcing a $5.5 billion charge related to China exports.
Markets have been volatile since Trump’s April 2 tariff announcement, with major indices down over 4%.
Today, US retail sales data for the month of March will be published with economists expecting 1.2% growth amid consumer concerns about inflation and the economy.
Gold prices hit a new record high of $3,261.62 per ounce amid tariff concerns. Analysts expect prices to reach $3,400 as investors shift to gold with growing market risks.
China’s Economy Growth is Better than Expected
China’s economy grew 5.4% in the first quarter of 2025, showing resilience despite U.S. tariff threats affecting growth forecasts. Growth exceeded Reuters’ poll expectations of 5.1%, building on late 2024’s recovery through stimulus measures.
March retail sales in the country grew 5.9% year-on-year passing 4.2% estimates. Industrial output rose 7.7%, above 5.8% forecasts.
Fixed asset investment in the first quarter of the year increased 4.2%, slightly above 4.1% estimates. Real estate investment fell 9.9%, while infrastructure and manufacturing improved.
The bureau reported a “good and steady start” with growing innovation impact. DeepSeek, a Chinese startup, achieved an AI breakthrough rivaling OpenAI in January.
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