🧠 Stocks rise and so does anxiety

Good morning investors! The market won yesterday but fear persists.

Today we cover:

• What people think

• Earnings are here

• Facebook in trouble?

📊 Economy and News 

Consumer Anxiety Rises as Trade Tensions Fuel Fears Over Jobs and Markets

Consumer concerns over inflation, unemployment, and the stock market grew in March amid escalating global trade tensions, according to a New York Fed survey.

The chance that unemployment will rise within a year jumped to 44%—the highest since April 2020. Meanwhile, expectations for a higher stock market a year from now fell to 33.8%, the lowest since June 2022.

The survey, conducted before President Trump's early April tariff announcements, aligns with broader sentiment indicators like the University of Michigan’s survey, reflecting heightened consumer unease.

Despite these concerns, long-term inflation expectations remained stable. Five-year inflation expectations dipped slightly to 2.9%, while the three-year outlook held at 3%. However, consumers expect sharper increases in living costs: food prices are projected to rise 5.2%, rent 7.2%, and medical care 7.9%—the highest since August 2024. Gasoline, by contrast, is expected to increase just 3.2%, down from February's forecast.

Global hits:

• Singapore sees zero growth as a possibility this year as it cuts GDP outlook on tariff worries.

• UK retailers warn of Chinese ‘dumping’ amid tariffs, call for end to tax loophole as the UK cuts import tariffs on 'everyday essentials' in effort to boost growth

• China exports skyrocket over 12% in March as trade war drives businesses to frontload shipments.

Good to know: Goldman says ESG investors should bring oil and gas stocks in from the cold. One the other hand, more than 60% of CEOs expect a recession in the next 6 months as tariff turmoil grows. Lastly, JD launched a $27.35 billion fund to help domestic exporters affected by escalating U.S. tariffs sell their goods locally. Other like Alibaba are also taking similar steps.

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📈 Stocks

S&P 500 5,405.97 (+0.79%)
DJIA 40,524.79 (+0.78%)
NASDAQ 16,831.48 (+0.64%)
BRENT CRUDE 13 (+0.39%)
* Prices as of Mar 3rd, 12:20 AM UTC

Goldman Sachs Beats Q1 Expectations on Strong Equities Trading

Goldman Sachs posted stronger-than-expected first-quarter results, driven by a surge in equities trading revenue.

Key Results:

• Earnings: $14.12 per share vs. $12.35 expected

• Revenue: $15.06 billion vs. $14.81 billion expected

Profit rose 15% year-over-year to $4.74 billion, while revenue climbed 6%. The bank’s global banking and markets division generated $10.71 billion in revenue, up 10%, as equity trading jumped 27% to $4.19 billion—well above estimates.

This strength helped offset weaker areas. Fixed income revenue rose just 2% to $4.4 billion, missing forecasts. Investment banking fees dropped 8% to $1.91 billion, also slightly below estimates.

CEO David Solomon acknowledged a shift in the operating environment amid recent geopolitical tensions but maintained confidence in the firm’s client support capabilities.

Other segments showed slight declines. Asset and wealth management revenue fell 3% to $3.68 billion, while platform solutions dipped 3% to $676 million, both narrowly missing expectations.

Controversial: Pfizer scraps daily weight loss pill after liver injury in one patient. Elsewhere, Sony hiked the price of its flagship PlayStation 5 console in Europe, Australia and New Zealand, citing a “challenging economic environment” as the reason behind the move. Lastly, U.S. businesses sue to block Trump tariffs, say trade deficits are not an emergency.

💵 Personal Finance

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💰 Be a Better Investor

Resources:

• Calculators

• Retirement Resources

• Dividends

• Make Money in Retirement

• Side Hustle Ideas

• Stock Deep Dives

• Investing 101 videos

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.

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