Morning Economic Report 5-2-25

Sentiment in financial markets a tad more buoyant as the Chinese Commerce Ministry is reportedly evaluating the US proposal for trade talks. As encouraging as it seems, a trade agreement is an awfully long way off. Earnings from Amazon and Apple were tepid. The euro zone manufacturing PMI edged up in April but at 49.0 it still shows contraction. Inflation in the common currency area was steady at 2.2% last month. Global stocks are advancing impressively, although gold is in demand again and the dollar is being sold off.