An empty container ship of COSCO Shipping sails to a container terminal in Qingdao in east China’s Shandong province Wednesday, April 16, 2025. Feature China | Future Publishing | Getty ImagesWhat began as a rapid drop in U.S. imports as shippers cut orders from manufacturing partners around the world has now extended into a nationwide export slump, with the U.S. agricultural sector and top farm products including soybeans, corn, and beef taking the hardest hit.The latest trade data shows that a slide in U.S. exports to the world, and China in particular, that began in January now extends to most U.S.…
Author: usaeverydaylife
The Ferrari brand logo, the coat of arms with the lettering and a rising horse (cavallino rampante), can be seen on the rim of a vehicle from the sports car manufacturer in Munich (Bavaria) on April 6, 2025.Picture Alliance | Picture Alliance | Getty ImagesLuxury carmaker Ferrari on Tuesday reported a significant upswing in first-quarter profit, citing robust demand for personalized vehicles — but warned U.S. President Donald Trump’s trade policy could hit earnings this year.The Maranello, Italy-based sports car manufacturer posted net profit of 412 million euros ($466.3 million) for the first three months of the year, reflecting a…
A DoorDash sign is pictured on a restaurant on the day they hold their IPO in New York, December 9, 2020.Carlo Allegri | ReutersDoordash on Tuesday announced the $1.2 billion acquisition of restaurant booking platform SevenRooms and reported first-quarter revenue that missed expectations. Shares fell about 4% following the news.Here’s how the company did, based on LSEG expectations:Earnings per share: 44 cents adjusted vs. 39 cents expectedRevenue: $3.03 billion vs. $3.09 billion expectedDoordash said the all-cash acquisition of SevenRooms, a New York City-based data platform for restaurants and hotels to manage booking information, will close in the second half of…
People line up at departures gates in Los Angeles International Airport.Daniel Slim | Afp | Getty ImagesEven though inflation hasn’t yet declined to policymakers’ target level, some pockets of the U.S. economy have seen prices fall recently.Consumers have seen prices deflate for airfare, produce, household goods, electronics and gasoline, for example, according to the consumer price index, an inflation gauge. (Deflation is when prices decline, while disinflation is when prices continue to grow but at a slower pace.)”There are a lot of idiosyncratic factors affecting certain categories,” said Ryan Sweet, chief U.S. economist at Oxford Economics. “In the end, it’s…
Shopify is uniquely positioned to withstand tariff pressures when compared to the rest of the e-commerce space, according to BMO Capital Markets. The firm initiated Shopify with an outperform rating and a $120 per share price target. That forecast signals about 22% upside from Monday’s close. “While tariffs create near-term risk, we believe SHOP’s core strength is the agility that its platform provides to merchants,” analyst Thanos Moschopoulos wrote in a Tuesday note. “In our view, tariff-related disruption will make this competitive differentiator all the more relevant, driving accelerated share gains.” SHOP YTD mountain Shopify stock in 2025. Shares have…
Workers at a wet market count and return New Taiwan Dollar notes to customers, as Taiwan is expected to show positive GDP and economic growth, amid the covid-19 pandemic, in Taipei, Taiwan, 15 Aug 2021. Ceng Shou Yi | NurPhoto | Getty ImagesTaiwanese dollar pulled back Tuesday after a historic surge that saw it clock multi-decade gains amid speculation about pressure from Washington on strengthening the local currency.It weakened over 3% against the U.S. dollar on Tuesday, after a meteoric 9% rally over the previous two trading days to hit three-year highs, and logging its sharpest daily gains Monday since…
Two decades ago, before Friedrich Merz came back from the private sector to win the German chancellorship, he accepted an invitation to a gathering of the French Foreign Legion in Corsica. At the last moment, the organizers asked him to arrive on the parade ground not by road or rail, but by parachute.Mr. Merz, then a corporate lawyer, had never jumped out of a plane. But a fellow attendee recalled recently that Mr. Merz did not hesitate. He made the jump — successfully, but with a bit of a rough landing.Now 69 and a politician, Mr. Merz is attempting a…
Traders work on the floor of the New York Stock Exchange on May 1, 2025. NYSES&P 500 futures fell early Tuesday, as investors awaited the start of the Federal Reserve’s first policy meeting since President Donald Trump announced “reciprocal” tariffs in early April. S&P 500 futures fell around 0.56%. Futures tied to the Dow Jones Industrial Average were down 143 points or 0.35%. Nasdaq-100 futures declined 0.79%. During Monday’s main session, the S&P 500 fell 0.6% to snap its nine-day rally — its longest winning streak since 2004. The tech-heavy Nasdaq Composite dropped 0.7%, while the Dow slipped 0.2%. Tariff uncertainty continues to…
An employee places an item in the window display at a delicatessen in the Piazza Campo di Fiori in Rome, Italy, on Tuesday, Dec. 6, 2016.Bloomberg | Bloomberg | Getty ImagesThe euro zone economy continued to expand in April but at a slower pace as demand weakened and the dominant services sector nearly stagnated, suggesting the region’s recovery remains fragile, a survey showed.The HCOB Eurozone Composite PMI Output Index, compiled by S&P Global, fell to 50.4 from 50.9 in March. The reading was only just above the 50 mark separating growth from contraction.”Euro zone economic growth slowed at the start…
Friedrich Merz, designated Federal Chancellor (CDU), is pictured during the signing of the coalition agreement between the SPD, CDU, and CSU on May 05, 2025 in Berlin, Germany.Florian Gaertner | Photothek | Getty ImagesFriedrich Merz failed to get the majority needed to become German chancellor in a parliamentary vote Tuesday.Merz needed at least 316 votes to become chancellor and only 310 members of parliament voted in his favor.The German Dax stock market index extended losses after the result to trade around 1% lower by 9:30 a.m. London time. The result marks an unanticipated setback for Merz who was widely expected…
