Japan Jibun Bank Manufacturing PMI Final

Australia Export Prices QoQ

Australia Import Prices QoQ

Australia Exports MoM

US stock futures rose sharply on Thursday, fueled by robust earnings from two major tech giants. In extended trading, Microsoft jumped more than 7% after reporting better-than-expected fiscal third-quarter earnings and revenue, driven by strong performance in its Azure cloud segment. Meta Platforms also climbed nearly 6% after beating revenue expectations for the first quarter. During regular trading on Wednesday, markets initially dipped following data showing the US economy contracted by 0.3% in the first quarter — the first negative growth in three years. However, investors largely shrugged off recession fears and bought the dip. The Dow and S&P 500 closed up 0.35% and 0.15%, respectively, while the Nasdaq Composite edged down 0.09%. Markets are increasingly hopeful that tariff pressures may have peaked under the Trump administration. Looking ahead, investors await additional key earnings and economic reports on Thursday, with particular focus on results from Apple and Amazon.

US Futures Jump on Upbeat Tech Earnings

Equities in New Zealand rose 25 points, or 0.2%, to 11,928 in Thursday morning trade, after closing lower in the previous two sessions. The gains were largely supported by strength in industrials, tech, real estate, and consumer staples. The NZX 50 attempted to rise amid hopes of a de-escalation in the trade war between the US and China, after China compiled a list of US-made goods exempt from its 125% tariffs. Traders shrugged off government budget spending cuts while hoping for interest rate reductions to support the economy amid potential global fallout from the trade war. However, Wednesday's data capped the gains, as the country’s consumer mood fell to a nine-month low and China, New Zealand's top trading partner, reported disappointing PMI data. Among early gainers were Auckland International Airport (up 2.4%), Skellerup Holdings (1.7%), Westpac Banking Corp. (0.9%), Infratil (0.5%), and A2 Milk (0.5%).

New Zealand Shares Trade Slightly Higher

The S&P Global Australia Manufacturing PMI came in at 51.7 in April, down from 52.1 in March, signaling continued sector improvement. Though growth slowed from March’s 29-month high, it remained strong. Output rose for the third time this year, driven by new orders, with businesses citing development plans and stockpiling. Staffing levels grew for the second straight month, with job creation at its fastest in two years. Despite this, manufacturers faced a backlog due to increased demand and supply delays, extending lead times for the twenty-second consecutive month. Higher orders and production boosted purchasing activity, increasing inventories. However, business confidence fell to its lowest in six months, as trade uncertainty concerns grew, while input cost inflation led to the fastest price hikes since February 2023.

Australia's Manufacturing Sector Sees Continued Growth

The Ibovespa closed marginally lower at 135,067 on Wednesday, halting a seven-day winning streak and easing from its highest level since September, pressured by disappointing corporate results and weakness among commodity producers, while investors parsed through the latest employment data. WEG’s shares plunged 10.8% on margin compression and earnings narrowly missing consensus, while Petrobras (-1.5%) and Vale (-1.8%) softened on concerns over weakening global commodity prices and stalled capital spending. Economically, Brazil’s unemployment rate rose to 7.0% in Q1—the highest since May 2024—signaling a less resilient labor market amid restrictive borrowing costs and trade uncertainty. On the international front, US first-quarter GDP unexpectedly contracted at a 0.3% annualized pace and private-sector hiring tumbled to its weakest level since September 2024—stoking fears that President Trump’s tariff barrage is already denting America’s growth.

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