What’s in store for US shoppers?

Tuesday 29th April 2025

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Markets were more subdued for most of the session overnight, with shares in the US down until a reversal in the last hour of trade. The hopes of a quick resolution to US-China is seeming less likely. For a start, are the two sides talking? NAB’s Tapas Strickland says President Trump claimed he had spoken to President Xi, but China denies any negotiations are taking place. Meanwhile shipments from China are well down and will be felt in retail stores in a week or so. The Dallas Fed manufacturing general business activity index fell 20 points to -35.8, its lowest reading since May 2020, during COVID. UK economist Paul Krugman overnight likened it all to COVID, without a vaccine.

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