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Erik Schafhauser Zürich

Morning Brew May 13 2025

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  Sino/US deal lets stocks and USD fly

Good morning,

Indexes rise: Dow 2.81%, S&P 500 3.26%, Nasdaq 4.35%  Consumer discretionary the strongest sector, up 5.5%, with strong performances from megacaps like Apple, Nvidia, Amazon, Meta, Alphabet, and Tesla. Pharmaceutical stocks fell as Trump announced plans to cut prescription drug prices. Volumes were massive at 20 billion shares.

European Equities gained with the STOXX 50 and STOXX 600 reaching the highest levels since March. The GER40 traded an amazing range from 23925 to 23350 to now trade 23560.  Rheinmetall was the outlier yesterday, falling 6% on hopes of peace in Ukraine.

The US Dollar surged, marking its best day in a month, the Dollar Index, the trade weighted performance of the USD rose more than 1% to above 101.6 level. EURUSD traded as low we 1.1066 now 1.1111, right on the 50 day MA. USDJPY is 147.85 and GBPUSD 1.32 Bitcoin remains above the 100,000 level.

Gold tested the 3210 to recover to 3255, Silver fell below 32 to now trade at 33. 10 Year Yields int eh US rose to 4.45, Oil soared.

The United States would cut the low value "de minimis" tariff on China shipments to 54% from 120%, with a flat fee of $100 to remain, starting from May 14

Donald Trump said the EU was nastier than Chima as it let the US subsidize it’s healthcare system.  He will set out to the middle east today and is considering to join the Ukrainian / Russian summit but this is not yet confirmed.

Today we are awaiting the ZEW from Germany and the US CPI expected at 2.4%. Given the political turmoil and tariff news. As we saw yesterday, news are more potent than economic data at the moment, remain agile. And be aware of your risks.

 

Tuesday, May 13

- Germany ZEW

- U.S. Consumer Price Index (CPI) & Core CPI (April): Key inflation data

- NFIB Small Business Index (April

Earnings: JD.COM, Honda, Under Armor,

 

Wednesday, May 14

- Germany Inflation (HICP)

- San Francisco Fed President Mary Daly speaks

Earnings: Sony, Tencent, Cisco,

 

Thursday, May 15

- UK GDP

- EU GDP

- U.S. Retail Sales (April): Important consumer spending data & Initial Jobless claims

- Fed Chair Jerome Powell speech: Closely watched for monetary policy signals

Earnings: Walmart, JohnDeere,

 

Friday, May 16

- EU Trade Balance,

- US House Prices & University of Michigan Sentiment

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