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Monday, April 14

Noteworthy macro moves today: Nasdaq 100 Index (US) +1.9%. S&P 500 Index (US) +1.5%. USD/CNH +0.5%. Noteworthy US mega-cap moves today: Apple Inc (AAPL) +6.4%. NVIDIA Corp (NVDA) +3.7%. Eli Lilly and Co (LLY) +2.1%. 

U.S. equity markets are experiencing a positive shift, with major indices such as the S&P 500 and Nasdaq showing significant gains following President Trump's announcement that certain consumer electronics will be exempt from steep tariffs on Chinese imports for now. This development has alleviated some concerns regarding escalating trade tensions between the U.S. and China, contributing to an overall rise in market sentiment.

In economic data releases, China's March trade surplus surged to $102.64 billion due largely to a notable increase in exports of 12.4% year-on-year amid front-loading ahead of anticipated tariff hikes under Trump’s administration set for implementation in April; however, imports fell by 4.3%, reflecting ongoing domestic demand weakness exacerbated by higher tariffs imposed previously.

Additionally, Japan's industrial production rose month-over-month but slightly missed preliminary estimates while still marking its fastest growth since early last year—indicating potential recovery signs despite previous declines—and highlighting broader regional economic dynamics heavily influenced by global trade policies and central bank actions across large economies.

SPDR Gold Shares (GLD) [-0.6%]
SPDR Gold Shares (GLD) is currently trading at $3,229, reflecting a decline of 0.45% in premarket activity. This drop follows a notable inflow of over $1.3 billion into gold, driven by increased market volatility. Recently, gold experienced its best three-day rally since the COVID-19 pandemic, rising significantly. However, the current downturn contrasts sharply with last week's gains, where gold was poised for substantial increases.

USD/CNH (USD/CNH) [+0.5%]
The USD/CNH has increased, reflecting a daily return driven by escalating trade tensions. China has raised tariffs on U.S. imports to 125% following President Trump's tariff adjustments, which could influence global economic growth and sentiment towards the yuan. Concurrently, China's exports surged year-on-year in March, significantly surpassing expectations, suggesting frontloading ahead of anticipated U.S. tariff hikes. The offshore yuan has reached historic lows against the dollar, raising concerns about potential capital flight reminiscent of the 2015-2016 period. Additionally, China's trade-weighted CFETS Yuan Basket Index has fallen to its lowest level since late July 2023.

AAPL | +6.5% | +210.7B
Apple Inc | Technology Hardware, Storage & Peripherals
Apple Inc. has experienced a notable price increase, moving higher alongside the Technology Hardware, Storage & Peripherals sector. The company's recent exemption from significant tariffs on electronics, including iPhones, announced by President Trump, has provided a temporary relief from the previously proposed 145% tariffs on goods manufactured in China. Analysts have expressed optimism regarding this development, with projections of a potential stock price increase. Additionally, Apple has reported a substantial increase in iPhone production in India, reflecting a strategic shift to diversify away from China amid ongoing trade volatility. Recent social media discussions highlighted Apple's strong performance in smartphone sales, indicating robust demand for its products. The stock opened significantly higher in overnight trading and has maintained a strong upward trajectory in premarket sessions.

PLTR | +5.5% | +11.5B
Palantir Technologies Inc | Application Software
Palantir Technologies Inc has experienced a notable increase in its stock price, coinciding with a broader market rally. U.S. stock futures rose significantly following President Trump's temporary exemption of certain technology imports from new tariffs on China, alleviating some trade tension concerns. In Europe, major indices like the DAX and FTSE 100 also saw substantial gains, driven by improved sentiment linked to these U.S. tariff developments. Additionally, Palantir secured a significant contract with NATO for an AI military system, enhancing its position in the defense sector. The company is also collaborating with the Department of Government Efficiency on a project to develop a new "mega API" for accessing IRS records. Social media discussions highlighted Palantir's recent launch of a Meritocracy Fellowship, reflecting its commitment to innovation and talent acquisition. Furthermore, the iShares iBoxx $ High Yield Corporate Bond ETF has moved up, aligning with the positive market sentiment surrounding Palantir.

LLY | +2.2% | +15.7B
Eli Lilly and Co | Pharmaceuticals
Eli Lilly and Co's stock has increased, aligning with a broader market rally following President Trump's decision to temporarily exempt certain consumer electronics from tariffs. This development has bolstered major indices, which have recorded significant weekly gains. Additionally, Eli Lilly's shares rose notably due to Pfizer's announcement of abandoning its weight-loss pill, danuglipron, which has positively influenced sentiment within the sector. Social media discussions reflect a cautious outlook on Eli Lilly's valuation as earnings approach, with sentiments indicating that while the company remains strong, it is perceived as expensive. Furthermore, a new alliance between Roche and Zealand Pharma aims to introduce an alternative obesity treatment that could impact Eli Lilly's market position, particularly concerning its product Mounjaro. These dynamics highlight the evolving competitive landscape in obesity treatments.

GS | +2.6% | +4.2B
Goldman Sachs Group Inc | Investment Banking & Brokerage
Goldman Sachs Group Inc. has experienced a price increase, aligning with the broader market trend. U.S. stock futures rose significantly following President Trump's decision to exempt certain technology products from new tariffs on Chinese imports, alleviating trade tension concerns. European indices also gained sharply, bolstered by improved sentiment linked to these U.S. developments. Goldman Sachs reported strong first-quarter results, with net income of $4.74 billion, or $14.12 per share, surpassing analysts' expectations. Revenue reached $15.06 billion, exceeding forecasts. Notably, the bank's trading division excelled, with fixed-income revenue rising and equities revenue achieving a record high. Additionally, a $40 billion share repurchase program was announced. Social media discussions are highlighting anticipation for the upcoming earnings report scheduled for April 14, which is viewed as a significant event for the stock's trajectory. The Dow Jones Index has also increased, reflecting the overall positive market movement.

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