Bloomberg Daybreak: US Edition
Daybreak Weekend: U.S Retail, ECB Meeting, TSMC Earnings
Apr 11, 2025
Geetha Ranganathan, a Bloomberg Intelligence Analyst, breaks down the implications of mixed signals in U.S. retail, especially amid tariff wars. Jane Lanhee Lee provides insights into TSMC's strategic $100 billion investment in U.S. chip factories in response to trade tensions. Yana Randow discusses the upcoming ECB meeting and the complexities of monetary policy in uncertain economic times. Expect revelations on Netflix's pivot to advertising and the impact of global economic factors on consumer behavior.
38:55
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Quick takeaways
- March retail sales are expected to grow by 1.3% as consumers front-load purchases ahead of tariff increases, despite a subdued Q1 GDP outlook.
- TSMC's upcoming earnings report is crucial as the company adapts to global trade changes while investing significantly in U.S. manufacturing to mitigate tariff effects.
Deep dives
Impact of Tariffs on U.S. Retail Sales
The retail sales data for March is anticipated to reveal significant insights against the backdrop of escalating tariffs between the U.S. and China. Retail sales may show a growth of approximately 1.3%, buoyed by consumer behavior that reflects front-loading purchases prior to expected tariff increases. Notably, sales of big durable goods like automobiles surged, indicative of consumers anticipating price hikes. However, despite this positive March outlook, concerns linger regarding the overall economic health, particularly as Q1 GDP growth for real consumer spending is projected to remain subdued between 0.6% and 0.8%.
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