US markets ended the week on a glum note as traders await April’s planned tariffs, despite relatively benign economic data releases. The Philadelphia Federal Reserve’s March business survey showed a decline in sentiment and sharp new orders readings, while prices paid jumped.
FedEx (FDX.N) dropped 5% after cutting its full-year profit and revenue forecasts due to tariff-related impacts. However, Micron Technology (MU.O) beat expectations with strong demand for AI-related chips, boosting shares by 2%.
US President Donald Trump said the US will sign a minerals and natural resources deal with Ukraine shortly, while Japan’s core inflation hit 3.0% in March. Canada’s house prices and January retail sales will be closely watched on Friday.
The Organisation for Economic Cooperation and Development (OECD) warned that Trump’s tariff hikes could slow growth in Canada, Mexico, and the US while driving up inflation. Funding the net-zero emissions transition will be a significant challenge, with outstanding government and corporate bonds globally exceeding $100 trillion last year.
Source: https://www.reuters.com/markets/us/global-markets-view-usa-2025-03-21