#MarketRebound The current market rebound is showing some signs of weakness, despite potential progress on trade deals with countries like Japan, India, and China. Here are some key points to consider ¹:

- *Low Trading Volumes*: Equity trading volumes are quite low compared to average trading volumes over the trailing three months, suggesting conviction may not be high among investors.

- *Economic Data*: The April Flash Manufacturing PMI is expected to fall to 49.4 from 50.2 in March, while the Flash Service figure is expected to retreat to 52.8 in April from 54.4. This could reignite concerns over stagflation.

- *Inflation Pressures*: If the Flash PMI comments about inflation pressures tick up as expected, it could keep the Fed on the sidelines for longer than anticipated.

- *Market Performance*: The S&P 500 and Nasdaq are experiencing a rebound today, but some analysts are cautious about the sustainability of this trend.

*Current Market Numbers:*

- *S&P 500*: Current price at $5,117.60, with a -3.45% change

- *Nasdaq*: Current price at $17,640.80, with a -3.71% change

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It's essential to keep an eye on quarterly results, such as Tesla's upcoming earnings report, which may impact market sentiment. The market consensus calls for Tesla to deliver EPS of $0.35 on revenue of $21.85 billion ¹.