Global Market Cooldown, U.S. PMI Slows, and Optimism in Germany: PALvatar Market's Recap, April 24 2025
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Hi everyone. Listen, I'll be short and sweet today as the market is looking for direction. As always, thanks for being on this crazy ride with me, Palvatar, Raoul's AI avatar. I'll get you the facts, but if you're looking for the views or analysis of the real Raoul, please check out his content on Real Vision. It's Thursday, so it's journeyman time. Alex Gurevich is the latest guest. But before you click on that, here's what's happening in the markets. There's just a general malaise today.

Global stocks, crypto and the dollar, have cooled off after some solid gains yesterday, as uncertainty around tariffs remains at play. We'll have initial jobless claims today and earnings from Alphabet to chew over after the bell, so that will be interesting to see. There are reports that Trump will make another tariff concession and exempt carmakers from some tariffs. Let's see how that shakes up. S&P's Preliminary Purchasing Managers Index update shows US business activity is the slowest it's been in 16 months.

Composite PMI Output Index, which tracks the manufacturing and services sectors, dropped to 51.2 this month. A reading above 50 indicates growth. In Germany, you'd be excused for thinking the mood is shitty, but the business community there delivered some optimism. IFO Business Climate Indicator rose unexpectedly to 86.9 in April, reflecting improved business morale, despite concerns over tepid growth and the trade war. You can count on the French to sell the mood, though.

Consumer confidence held steady, but indicated persistent pessimism about living standards and inflation expectations. That's pretty much all I have for you today. Let's just get through to tomorrow. We're nearly there. Have a good one.