Overview
- US President Trump highlighted 'big progress' in trade talks with Japan and Italy, providing some relief to markets concerned about tariff uncertainties.
- The Federal Reserve signaled caution on interest rate cuts, while the European Central Bank lowered its main rate by 25 basis points, citing trade-related risks.
- Japan's March core inflation reached 3.6%, exceeding the Bank of Japan's 2% target, intensifying scrutiny of its monetary policy approach.
- Corporate earnings reports added sectoral volatility, with UnitedHealth's 22% stock drop after an earnings miss and Nvidia warning of a $5.5 billion impact from export restrictions to China.
- Global equity indices showed modest movement, with the S&P 500 up 0.1%, Nasdaq down 0.1%, and the Dow Jones falling 1.3%, reflecting a mixed market environment.