BoykoWealth.com — Automated Daily Report on World Macroeconomic News for April 24, 2025
A comprehensive summary of the news, covering GDP, inflation, unemployment, consumer confidence, equity markets, fixed income and interest rates, commodities, currencies, economic indicators, geopolitical developments, and new technology news.
GDP: The International Monetary Fund (IMF) has sharply downgraded global growth projections, forecasting a mere 2.8% growth for 2025, down from 3.3% in January [1]. The U.S. growth forecast has been cut to 1.8%, nearly a percentage point below earlier estimates, with a 40% chance of a recession this year [1]. This revision reflects the widespread impact of tariffs and heightened global uncertainty.
Inflation: Inflation remains moderately above the Federal Reserve’s 2% goal but is anticipated to rise considerably over the next year due to new tariffs raising the price of imported goods. The University of Michigan’s Surveys of Consumers indicate that inflation expectations for the next year are at 6.8%, up from 6.7%.
Unemployment: Initial jobless claims rose by 6,000 to 222,000 last week, matching expectations. The unemployment rate in March was 4.2%, well above the low of 3.4% reached in April 2023.
Consumer Confidence: The Conference Board Consumer Confidence Index is projected to fall to 87 from 92.9. The University of Michigan’s consumer sentiment index also shows a decline, with current conditions at 56.5 and expectations at 47.2.
Equity Markets: U.S. stocks rallied for the third consecutive day, with the S&P 500 gaining 2.03% to close at $5,484.77 [2]. The Dow Jones Industrial Average rose 1.23% or 486.83 points to finish at $40,093.40 [3]. The Nasdaq Composite surged 2.74% to end at $17,166.04 [4]. Tech and consumer discretionary stocks were the biggest gainers, driven by renewed optimism over U.S.-China trade negotiations.
Corporate Actions and Earnings: Boeing reported a first-quarter 2025 adjusted loss of $0.49 per share, narrower than the Zacks Consensus Estimate of a loss of $1.54 per share [4]. Shares of Apple gained 2.4%, while NVIDIA added 3.9% [4]. Tesla jumped 5.4% after CEO Elon Musk announced he would significantly cut down his work with the Trump administration to focus more on his company [4].
Trending Industry Update: The technology sector led gains, with the Technology Select Sector SPDR (XLK) jumping 2.9%. The Consumer Discretionary Select Sector SPDR (XLY) gained 2.2%. The semiconductor index (SOX) saw more than 5% gains [5].
United States: The U.S. stock market continued to perform well despite the IMF’s gloomy growth outlook [1]. Cleveland Fed President Beth Hammack indicated that a rate cut is “on the table,” contingent on forthcoming data [1]. Durable goods orders rose 9.2% in March, driven by a surge in nondefense aircraft orders.
Europe: European stock markets were mixed, with Germany’s business sentiment improving [1]. The IMF’s report highlighted the impact of U.S. tariffs on European economies [1].
Asia: Japan’s Nikkei rose 0.5%, supported by gains in the services sector [1]. China’s growth outlook was revised down to 4% by the IMF [1].
Fixed Income and Interest Rates: Treasury yields fell by 4-8 basis points, with front-end yields moving the most. The Federal Reserve’s Beige Book highlighted tariff uncertainty and cooling labor markets.
Commodities: Gold held above $3,300, driven by safe-haven demand amid fading US-China trade deal optimism. The current level of gold (XAU/USD) is around $3,320.
Energy: Oil prices remained stable, with Brent crude trading around $85 per barrel. The energy sector saw modest gains, supported by easing trade tensions.
Metals: Copper prices rose slightly, reflecting improved demand prospects in China. Aluminum prices remained steady, with market participants cautious about future supply disruptions.
Currencies: The Japanese Yen gained traction, with USD/JPY trading below 143.00. The U.S. dollar experienced a modest pullback, driven by Federal Reserve rate-cut expectations.
Economic Indicators: The Chicago Fed National Activity Index fell to -0.03 from 0.12. The Kansas City Fed Manufacturing Activity index remained negative at -6.
Geopolitical Developments: President Trump assured that he had no plans to fire Federal Reserve Chairman Jerome Powell. China demanded the complete removal of U.S. tariffs and denied that formal negotiations are underway [1]. The IMF’s report underscored the widespread impact of tariffs on global economies [1].
New Technology News: Tesla’s focus on AI and cloud revenues was highlighted in its earnings report [5]. The technology sector continues to drive market gains, with significant investments in AI and data centers [5].
This comprehensive summary provides a detailed overview of the latest macroeconomic news and market developments for April 24, 2025. Stay tuned for more updates from BoykoWealth.com.
References
[1] Dow Jones Chart 2025 Year To Date | StatMuse Money
[2] S&P 500 (^GSPC) Historical Data – Yahoo Finance
[3] DJIA | Dow Jones Industrial Average Stock Prices and Charts – WSJ
[4] NASDAQ Composite Rises 2.74% to 17166.04 — Data Talk
[5] Dow Jones Chart By Days In April 2025 Values | StatMuse Money