Digest | 1 May 2025
- Edward von der Schmidt
- May 2
- 4 min read
Updated: May 16
Major technology names boosted by data center requirements led an eighth-straight S&P gain as thawing US-China trade diplomacy boosted risk sentiment. Outlook uncertainty driven by a shifting tariff regime weighed on manufacturing PMIs while US port operators warned of precipitous shipping declines with negative implications for employment and economic activity down the line. Trade talks with Japan progressed slowly and came with a friendly warning. The US removed its National Security Advisor as geopolitical tensions flared abroad. Federal court proceedings related to executive authority and artificial intelligence highlighted the importance of judicial discretion. April's employment data will be released Friday.