China on Wednesday appointed Li Chenggang as vice minister of commerce and a top representative for international trade negotiation, according to an official statement, replacing Wang Shouwen.
The appointment makes Li a key member of China’s trade negotiation team as Beijing deals with trade disputes with the U.S. So far, there have not been any sign of near-term trade talks as both sides have ratcheted up tariff tensions. Source: CNBC
In case you missed it...
The NY Empire State Manufacturing Survey 6-month Ordering Intentions fell to the LOWEST READING IN THE HISTORY OF THE INDEX! Source: Ronnie Stoeferle @RonStoeferle @kevinmuir, Bloomberg
Nvidia said on Tuesday that it will take a quarterly charge of about $5.5 billion tied to exporting H20 graphics processing units to China and other destinations
The stock slid almost 5% in extended trading. ➡️ Biden placed these original restrictions on Nvidia, to not allow China to get their hands on the latest generation chips. Nvidia spent billions on new less powerful chips that met the U.S. original criteria so it could still sell to China. And now Trump has ruled those same chips as illegal to be sold to China. For businesses, it is very difficult to operate with this level of policy volatility... Source: Bloomberg, Spencer Hakimian @SpencerHakimian
china first-quarter GDP topped Reuters poll expectations for a 5.1% growth year on year, building on a recovery that began in late 2024, thanks to a broad policy stimulus push.
▶️Retail sales in March rose by 5.9% year on year, sharply beating analysts’ estimates for a 4.2% growth. Industrial output expanded by 7.7% from a year earlier, versus median estimates of 5.8%. ▶️The urban unemployment rate slipped to 5.2% in March, following a two-year high of 5.4% in February. Source: CNBC
Here’s how Wall Street’s year end 2025 targets for the S&P 500 have changed
Source: Blossom @meetblossomapp, Yahoo Finance
Yesterday, hermes $RMS' market cap surpassed $LVMH's for the first time ever. $279B.
Source: Quartr
China has the largest manufacturing workforce on Earth, by far.
Source: UN, Markets & Mayhem
Types of competitive advantage.
Nice pic by @Invesquotes thru Brian Feroldi
