🇺🇸US Manufacturing

Sector Shrinks

The manufacturing PMI fell to 48.7 in April, the lowest level since November 2024. This also marks the second consecutive monthly contraction. New orders rose by 2 points to 47.2, but remain below 50.0 for the third month in a row. Such a low level of production has only been observed during economic downturns in the past. The US manufacturing sector is facing challenges.

📈However, yesterday the S&P 500 closed its ninth consecutive trading session in the green. Bitcoin faced a resistance range at $98,000, and yesterday the capital inflow into ETFs came solely from BlackRock, totaling $674 million.

🐲China's exports shrank by 10% year-on-year, marking the largest decline in the last 15 years.

🎌Japan threatens to divest from US Treasury bonds if trade negotiations do not go smoothly. Japan is one of the largest holders of US government bonds.