Global markets went backwards overnight and, once again, driven by tariff news.
In Europe, the FTSE fell by23 points (.27%), the DAX fell 160 points (.70%) and the CAC fell 40 points (.51%).
In the US, the DOW fell 155 points (.37%), the NBI bucked the trend and rose 18 points (.42%), the NASDAQ Composite fell 94 points (.53%) and the Russell small cap index fell 8 points (.39%).
Trump imposed a "permanent" 25% tariff on all imported motor vehicle entering the US. This includes completed motor vehicles as well as components. Tariffs come into effect on May 3rd.
The German finance minister has indicated a firm response from the EU so the trade wars are likely to hot up very quickly. Germany is the largest EU exporter of motor vehicles into the US.
Data showed the US economy grew by 2.4% in Q4 2024 (above market expectations of 2.3%%).
US Treasury 10 year bond yield is sup to 4.364%
Oil rose a bit - Brent crude at US$73.20 per barrel.
Precious metal prices rose - gold is at US$3,056 per oz. Silver also rose to AUD54.55 per oz.
BITCOIN was steady at US$87,299.
IMU Price at posting:
3.3¢ Sentiment: Buy Disclosure: Not Held
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