Usually, when consumer sentiment is low, people pull back on spending. Not this time. Fresh data out this morning showed surprisingly strong retail sales last month. The reason? More folks are stocking up to beat price increases resulting from President Donald Trump's tariffs. Also: Tariffs may shrink the price gap between organic and standard produce, and the U.S. African Development Foundation is fighting against cuts from the Trump administration.
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A proposed tax credit to help protect homes from natural disasters
From wildfires in California to more recent flooding in the Midwest and South, the toll of recovering from natural disasters can be staggering. Sen. Tim Sheehy, a Republican from Montana, and Sen. Adam Schiff, a Democrat from California, have an idea: a tax credit to harden homes against natural disasters. We'll hear more. But first: why chipmaker stock prices are down and how Beijing is preparing for tougher trade relations with the U.S.
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While China's growth beat expectations, tariffs still loom large
From the BBC World Service: China says its economy grew by 5.4% in the first three months of this year, but analysts warn the economy will slow in the second quarter as the effects of President Donald Trump's 145% tariffs on Chinese goods are felt. Meanwhile, Chinese manufacturers are taking to TikTok to urge American consumers to bypass intermediary retailers like Shein, Temu or Amazon and buy directly from them.
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Diversification is the name of the game
So far, it's been a calm morning for stocks. But statements will soon trickle in for brokerage accounts for January to March — a quarter where the S&P fell 4.6%, the Nadsaq fell 10%, and the Dow fell 9%. (That's before recent tariff tumult.) Today: the importance of portfolio diversification and how to think about financial planning during market turbulence. Also: inklings of tariff exemptions for the auto industry.
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Why was today's date circled in your calendar again?
It's Tax Day today! While your taxes may be due, you can file for an extension — and the extension is automatic for some this year. We'll discuss more with Nina Olson of the Center for Taxpayer Rights and learn how taxpayers might run into the effects of IRS budget cuts and hiring freezes. But first: Water bills keep going up, and the Trump administration is signaling tariffs ahead for imported pharmaceuticals and semiconductor chips.
In less than 10 minutes, we'll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace's David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you'll get a global markets update from the BBC World Service in London.
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