Market Update
Wall Street in April generally ebbed and flowed in response to uncertainty over U.S. trade policy and the impact of tariffs. April got off to a very rocky start as the stock market endured its worst week since the COVID pandemic. Investors moved away from risk following the announcement of President Trump's sweeping tariffs, particularly those aimed at China, and that country's immediate retaliatory response, which raised fears of rising inflation and global economic recession. Wall Street rebounded the following week after President Trump announced a 90-day pause on many of his new tariffs. Investors were then hit with President Trump's threat to fire Federal Reserve Chair Jerome Powell, which resulted in another negative week for the markets. Toward the end of April, Wall Street settled into a wait-and-see mode, which resulted in moderate gains as investors remained alert to further developments. However, contraction of the U.S. economy for the first time in three years drove stocks mostly lower to close out the month. The latest inflation data was encouraging: however, it does not reflect the potential impact of global reciprocal tariffs.
International Markets
Global markets were largely driven by tariff news throughout April. European and Asian stocks were mostly mixed for much of the month, ultimately closing April largely in the red. Elsewhere, the Ukraine war has depleted the Russian labor force, driving the unemployment rate to 2.3%. While the U.S. GDP declined in the first quarter, Mexico's GDP unexpectedly grew by 0.6% on a yearly basis. Canada's GDP also expanded, driven higher by a rise in household consumption expenditures. Eurozone GDP expanded by 0.4% in the first quarter. The Chinese economy grew by 1.2% in the first quarter, and Japan's GDP rose 0.6%. In April, the STOXX Europe 600 Index fell 1.8%; the United Kingdom's FTSE declined 1.3%; Japan's Nikkei 225 Index gained 1.2%; and China's Shanghai Composite Index ticked down 2.1%.
On a Personal Note
Jeff spent some time trying to improve his camera skills. Taking shots for the assignments in his two photography classes. Drew and Stephanie celebrated their 22nd wedding anniversary. Their closest friends congratulated Drew and offered condolences to Stephanie. Chris’s month was consumed by various spring sports events for his daughters. Between gymnastics, soccer, and track, his evenings and weekends flew by in a heartbeat. Lisa and David purchased Kings Island passes this year and have already had their first visit. They had a lot of fun riding a few rides, but they both realized their bodies definitely aren’t as young as they used to be. Sam took a trip back to Cleveland in April to visit his family. It was a long winter up north, so they spent most of the weekend getting the yard ready for spring. Taylor is wrapping up maternity leave and doing her best to soak in all the newborn snuggles. Being a mom is the hardest, most rewarding job she has ever had!
