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- Inflation & tariffs are down, but...
Inflation & tariffs are down, but...
Consumer pessimism is way up. What does this mean?
Chaos continued to reign supreme last week.
The US stock market had its best day since October 2008 after Trump paused tariffs for 90 days.
Inflation came in lower than expected.
The dire wolf has been reborn?
Let’s hit it.
Markets
PAST WEEK | YEAR-SO-FAR | |
|---|---|---|
Nasdaq | +11.7% | -13.3% |
S&P500 | +9.7% | -8.6% |
MSCI Emerging Markets | +7.0% | -0.1% |
Bitcoin* | +6.9% | -11.7% |
Ethereum* | +1.2% | -52.6% |
Stock of the week: | +25.7% | -19.8% |
Crypto of the week: | +48.6% | 42.0% |
*Source: CoinGecko.com As of 4:14PM April 13, 2025
World news
Top news stories of the past week
1) Tariffs - on again off again: After slapping a 145% on Chinese goods, Trump rolled back tariffs on electronics like smartphones produced in China to 20%. Expect some wild stock market swings today because of it. Before the rollback was announced, Apple chartered and flew five to six cargo planes carrying 600 tonnes (1.5 million units) of iPhones from India and China to the US to avoid the new tariffs.
2) Inflation is falling: In March 2025, U.S. inflation fell to 2.4% year-over-year, marking a slowdown from February's 2.8% increase and below forecasts of 2.6%. Confused how prices are falling even with tariffs? The decline was driven by falling energy and travel-related costs, while food prices increased slightly. Some data, like Truflation below, shows inflation being even lower.
3) Consumer sentiment falls off a cliff: U.S. consumer sentiment plummeted to the second-lowest reading since records began in 1952. Americans are worried about the economy, with trade policies and inflation on their mind. This decline, which was an 11% drop from March, reflects growing worries about economic conditions, personal finances, and labor markets, with sentiment falling by over 30% since December 2024.
Top WEIRD stories of the past week
1) Scientists have resurrected an animal that hasn’t existed for more than 10,000 years: the dire wolf.
2) A Nevada man was arrested after authorities seized seven emotional support tigers from his home. I feel like seven tigers would cause stress, not help you manage it. Am I the weird one?
3) A parrot in Gothenburg was stuck in a tree and lured down by its owner with a pack of cigarettes after shouting “F*CK YOU” at the firefighters trying to rescue it. I have so many questions.
Music
Banger of the week
Most important thing
Meme? Nah. Art.
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