Market update: Delayed tariffs delight investors


This week in the markets

  • The Trump administration delayed tariffs on auto parts to the delight of investors, which may have helped push markets up at Wednesday’s close.
  • The Commerce Department reported that US retail sales dropped 0.2% during the month of April.
  • Uber’s stock has experienced significant volatility since its initial public offering (IPO) last Friday. As of Wednesday, the rideshare company was down 9%.

Markets closed higher after tariffs on auto parts delayed

Most major markets closed higher on Wednesday after reports that the United States would delay tariffs on auto imports by up to six months. The Trump administration faces a Saturday deadline to decide whether to implement duties on auto part imports from the EU and Japan. If the President decides to go through with additional tariffs, it could spark even more global trade clashes. At Wednesday’s close the Dow Jones Industrial Average (DJIA) grew 0.5%, the S&P 500 increased 0.6%, and the Nasdaq rose 1.1%.

America cut back on spending during April

US retail sales declined last month, as many Americans cut back their spending on items like clothes, appliances, and home goods. The Commerce Department reported that sales dropped 0.2% in April, after a 1.7% increase in March. Retail sales should be watched very closely (by investors like you) because they make up about one-third of consumer spending and help drive the US economy.

Uber’s IPO has not been a smooth ride

Uber celebrated its initial public offering (IPO) last Friday, after much hype. Unfortunately, the celebration was short-lived, as the company’s stock fell 7% from its initial price of $45 on the first day of trading. As of Wednesday’s close, the rideshare company’s stock was down 9%. So what caused Uber’s value to drop? WSome analysts suggest that it’s typical for the newly issued stock to experience some volatility in the short-term. Significant increases and decreases in the stock’s value can occur within the first few months following an IPO, and with that comes the potential for loss.

One of the lessons of the Uber IPO is that investing in the stock of just one company can be risky. That’s why at MoneyLion we offer you baskets of securities called exchange-traded funds (ETFs), which allow you to diversify your portfolio in a simple, convenient, and low-cost way.

And now for your weekly Lionomics wrap-up. ?

Lionomics: Finance made easy

This week in Lionomics, we discussed the old stock market adage “sell in May and go away.” Find out why this may not be the best investment advice to reach your long term goals. ?

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