

Daybreak Weekend: Nvidia Preview, Poland Election, BOK Decision
May 23, 2025
Stuart Paul, a U.S. economist with Bloomberg Economics, shares valuable insights on upcoming GDP and personal spending data that could influence Federal Reserve policies. Hyosung Kwon, reporting from Seoul, discusses South Korea's economic landscape, addressing challenges like declining vehicle exports and surging semiconductor sales. They also delve into the political climate leading to Poland's presidential election and the implications for EU relations, along with NVIDIA's earnings prospects amid trade restrictions.
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Weak US GDP Growth Expected
- The U.S. first quarter GDP growth is expected to be weak, possibly flat after revision.
- Inventory growth revisions might inflate current readings but will subtract from future growth, indicating persistent trade-related economic drag.
Inflation Mix Masks Future Risks
- The April PCE inflation measure will show low price growth, masking rising core goods prices due to tariffs.
- Services prices have declined recently but may rebound, foreshadowing rising inflation ahead.
Nvidia Earnings Resilience Amid Challenges
- Despite export restrictions and potential large charges, Nvidia is expected to beat earnings estimates with strong Blackwell chip sales.
- The company adapts to China export limits by designing compliant chips, regaining revenue later.