Good morning investors! What a day it was yesterday with all indexes flying higher and BTC regaining grounds.
Today we cover:
Tariffs go on a break
Stocks hit records
Earnings (Delta and more)
Reminder: People are buying cars in hordes, why not buy auto insurance as well – starting as low as $38 per month.
📊 Economy and News
Trump’s Tariff Shift: A Global Trade Reset
On Wednesday, April 9, 2025, President Donald Trump overhauled his tariff strategy, dropping rates on imports from most U.S. trade partners to a universal 10% for 90 days to kickstart negotiations.
The change, announced hours after stiffer “reciprocal” tariffs took effect on goods from nearly 90 countries, marked a sharp pivot from last week’s aggressive stance.
China, however, faced a steep escalation—Trump hiked its tariff rate to 125% “effective immediately,” slamming Beijing for its “lack of respect” toward global markets.
In retaliation, China, the U.S.’s third-largest trade partner, slapped an 84% tariff on American goods, effective April 10, and issued new travel warnings for its citizens.
Trump touted the shift on Truth Social, claiming “more than 75 countries” had reached out to negotiate since his initial tariff unveiling.
“People were getting a little yippy,” he told reporters, brushing off the reversal’s whiplash.
Treasury Secretary Scott Bessent insisted it was always the plan, despite earlier White House denials. Commerce Secretary Howard Lutnick hailed the announcement as “one of the most extraordinary Truth posts of his Presidency,” crafted with Trump in real-time.
Did you benefit from yesterday's swing?
Global hits:
Social Security abandons phone service cuts after backlash.
France lowers growth outlook as trade war bites.
Traders see just three Fed rate cuts in 2025, starting in June.
Good to know: Weekly mortgage demand jumped 20% last week. Elsewhere, Walmart says tariffs could hit quarterly profits as it tries to keep prices low. Lastly, 10-year Treasury yield falls from highs after auction eases concerns about demand for U.S. debt.
Must check: Goldman Sachs reverts to non-recession forecast after Trump’s tariff pause. Whereas, Citi warns tariff pause won’t prevent inflation, growth hit. On the other hand, Fed minutes show broad sense US risks tilted towards higher inflation, slower growth. Lastly, some remind that Dot-com bust, 1987 crash had massive relief rallies similar to Wednesday’s pop
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📈 Stocks
S&P 500 5 456,90 (+9.52%)
DJIA 40 608,45 (+7.87%)
NASDAQ 17 124,97 (+12.16%)
BRENT CRUDE 65.48 (+4.32%)
* Prices as of Apr 10th, 12:20 AM UTC
Trump’s Tariff Twist: A Day of Market Magic
Investors who took President Donald Trump’s blunt morning nudge to “BUY STOCKS NOW” found themselves riding a wild and lucrative wave.
Just minutes after the opening bell at 9:37 a.m. ET, Trump fired off a Truth Social post: "THIS IS A GREAT TIME TO BUY!!! DJT"—a message signed with his initials, which also happen to be the ticker for Trump Media & Technology, his majority-owned social media venture.
Hours later, the president stunned markets by rolling back some of his recently announced, market-rattling tariffs, sparking a historic rally that turned a dismal week into a windfall for the quick-footed.
What unfolded was a jaw-dropping reversal.
Stocks, battered by a brutal four-day slide that had briefly shoved the S&P 500 into bear-market territory, roared back to life.
The tariff walkback—a 90-day pause on some of Trump’s “reciprocal” levies—unleashed a coiled spring of market energy.
The S&P 500 skyrocketed 9.52%, its third-biggest single-day gain since World War II.
The Dow Jones Industrial Average leaped 2,962.86 points—a 7.87% surge—while the Nasdaq Composite soared 12.16%, its second-best day ever.
For investors who heeded Trump’s call at the opening bell, the returns were nothing short of spectacular.
Almost stocks jumped with Apple jumping 15% recording its best day since January 1998, when late founder Steve Jobs was the company’s interim CEO and three years before the company unveiled the first iPod.
Tesla jumped over 21% and Nvidia and Shopify saw 18% gains each. Other companies that recorded two-digit gains included Boeing, Meta, Trump Media, Amazon, Disney, Microsoft, and Google.
There remain causes for concern. A 10% tariff imposed on all countries is still five times higher than levels observed in recent decades, with Canada, Mexico, the EU, and China continuing to face steep rates.
Overseas-produced semiconductors and technology have already declined by more than 30% from their recent peaks. 📊 Using last year’s import figures, trade tariffs on China alone are projected to generate approximately $550 billion in additional taxes this year.
Also, with analysts changing their minds, now might be a good time to check our AI tool and find top stocks.
Delta reports: Delta Air Lines reported financial results for the first quarter of the year that exceeded analysts’ expectations on earnings per share, but the airline has withdrawn its 2025 financial guidance, citing “lack of economic clarity” and a stagnant growth environment. The report sent the stock up over 25%,
Constellation Brands earning: The brand gave a weaker-than-expected forecast for the fiscal year, anticipating that higher U.S. tariffs will hurt its business. The Trump administration has imposed a 25% tariff on all imported canned beer. The company, which owns Modelo and Corona, also topped Wall Street’s expectations for its quarterly earnings and revenue.
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💰 Be a Better Investor
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👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.