Welcome to the MarketReader Minute.

Below are AI-generated insights on today’s premarket moves, powered by MarketReader technology.

If you find the insights useful, you may subscribe to our new sector-specific newsletters or share this on Twitter.

Thursday, April 10

Noteworthy macro moves today: S&P 500 Index (US) -2.6%. US Dollar Index -1.3%. Nasdaq 100 Index (US) -3.1%. Noteworthy US mega-cap moves today: Broadcom Inc (AVGO) -5.0%. Apple Inc (AAPL) -4.2%. NVIDIA Corp (NVDA) -3.8%. 

Recent market movements have been significantly influenced by President Trump's announcement of a 90-day pause on reciprocal tariffs for most countries, excluding China. This decision led to an extraordinary rally in U.S. equities on Wednesday, with the S&P 500 surging nearly 10% and the Nasdaq rising over 12%, marking some of their largest single-day gains since October 2008. The positive sentiment extended globally as European indices also experienced substantial increases.

In addition to tariff developments, key economic data releases are shaping investor expectations regarding inflation and employment in the United States. March's Consumer Price Index (CPI) showed annual inflation easing more than anticipated at 2.4%, while core CPI fell to its lowest level since early 2021 at around 2.8%. Initial jobless claims remained steady but slightly increased from previous weeks, indicating ongoing labor market stability amid broader concerns about potential recessionary pressures due to trade tensions.

Market participants remain cautious despite recent rallies; uncertainty persists surrounding future negotiations between major economies like the U.S., China, and others affected by these tariffs—especially given that China's retaliatory measures include raising import duties substantially higher than those imposed on other nations under this new framework.

SPDR Gold Shares (GLD) [+1.1%]
In the pre-market session, SPDR Gold Shares (GLD) increased significantly, reflecting broader market dynamics. Gold prices surged during Asian trading, driven by heightened demand as a safe-haven asset amid escalating U.S.-China trade tensions. Concurrently, the U.S. dollar weakened, further supporting gold prices. Notably, GLD's price reached $3,134, an increase attributed to President Trump's announcement of a 90-day pause on tariffs, which spurred a rally across global markets. Social media discussions highlighted that GLD had not broken its 50-day simple moving average, with users noting its proximity to record highs. The sentiment around GLD remains positive, with ongoing conversations linking its performance to tariff hikes and geopolitical tensions. Additionally, the US 2Y Treasury Bond exhibited a slight increase, aligning with the recent uptick in GLD.

Invesco CurrencyShares Euro Trust (FXE) [+1.6%]
Invesco CurrencyShares Euro Trust (FXE) has experienced a price increase of 1.2% since Wednesday. This movement coincides with a significant rally in European stocks following President Trump's announcement of a 90-day pause on most new U.S. tariffs, which led to substantial gains in major indices across Germany, France, and the U.K. Concurrently, gold prices surged as investors sought safety amid escalating trade tensions, supported by a weaker U.S. dollar. Additionally, the GBP/USD pair increased, reflecting broader market movements that may be influencing FXE's recent price action.

TSLA | -3.7% | -31.1B
Tesla Inc | Automobile Manufacturers
Tesla Inc has seen a decline of 3.7% in pre-market trading, aligning with a broader market downturn. The Invesco QQQ Trust Series I has dropped significantly, reflecting a 2.28% decline, while the S&P 500 Index has fallen by 2.41%. This movement coincides with a general bearish sentiment driven by concerns regarding inflation and upcoming economic data releases. Concurrently, Tesla has begun selling vehicles in Saudi Arabia, planning to expand its charging infrastructure substantially by 2030, despite facing challenges with slow EV adoption in the region. Analyst Vijay Rakesh from Mizuho has reduced Tesla's price target from 430 to 375, citing declining sales in Europe. Social media discussions have noted recent volatility in Tesla's stock, including a significant surge earlier in the week, but ongoing issues related to incentive claims in Canada have raised public scrutiny.

AAPL | -3.5% | -103.1B
Apple Inc | Technology Hardware, Storage & Peripherals
Apple Inc. has experienced a notable decline of 3.5%, aligning with significant downward movements in the Technology Hardware, Storage & Peripherals sector. In pre-market trading, bearish options activity has been prominent, with 281 extraordinary trades recorded, including 128 puts totaling over $11 million and 153 calls amounting to approximately $18 million. The overall sentiment among investors remains mixed, with 41% bullish and 43% bearish. Concurrently, Apple has begun airlifting 1.5 million iPhones from India to the U.S. to navigate tariffs imposed by the Trump administration, a move underscored by reports of accelerated production at its Foxconn facility in Chennai. This urgency reflects ongoing concerns regarding potential price increases for iPhones should production shift to the U.S. Amidst these developments, Apple’s stock has been pressured by broader market declines, with the Invesco QQQ Trust and S&P 500 Index also experiencing significant drops.

INTC | -3.9% | -3.4B
Intel Corp | Semiconductors
Intel Corp (INTC) has experienced a price decline, aligning with broader market trends, which also show significant downward movement. Recent reports indicate that Intel's CEO has made investments in companies linked to the Chinese military, raising national security concerns. This revelation has been widely discussed on social media, with users highlighting that the CEO's involvement with hundreds of Chinese tech firms, including those connected to the People's Liberation Army, is alarming to some observers. Additionally, Intel's price drop coincides with a substantial decline in the Direxion Daily Semiconductor Bull 3x Shares and a notable decrease in the S&P 500 Index. These movements reflect both sector-specific challenges and broader market sentiment.

NVDA | -3.9% | -105.4B
NVIDIA Corp | Semiconductors
NVIDIA Corp's stock has dropped significantly, moving lower alongside the broader market. The company has seen a year-to-date decline of over 17%. Recent developments include a reversal by the Trump administration on planned export restrictions for its H20 artificial intelligence chips to China, following a meeting between CEO Jensen Huang and Trump. This policy change coincided with significant orders from Chinese tech firms, exceeding $16 billion for these chips. Nonetheless, domestic competition in China poses ongoing challenges. Concurrently, NVIDIA's stock price has experienced a pullback after a notable surge linked to favorable trade news, now reported down by three points. This movement aligns with a decline in the Invesco QQQ Trust and the Nasdaq 100 Index, reflecting broader market pessimism amid concerns over tariff policies and inflation.

GM | -3.3% | -1.5B
General Motors Co | Automobile Manufacturers
General Motors Co (GM) has seen its stock price decline by 3.3%, aligning with a broader market downturn. Mizuho analyst Vijay Rakesh has revised GM's price target downward from 63 to 55 while maintaining an Outperform rating, citing ongoing concerns about tariffs on imports affecting the automotive industry. Despite a temporary 90-day pause on most tariffs announced by President Trump, auto tariffs remain in effect, drawing criticism from Michigan auto and business groups. This situation is impacting the supply chain and operational stability for manufacturers like General Motors. Additionally, the Russell 2000 Index has dropped significantly, reflecting a risk-off sentiment among investors that may also influence GM's performance.

Thank you for spending a minute with us. 

If you have 2 more minutes, watch this demo of the MarketReader Platform: