Good evening. The S&P 500 ended the week down -9.1%. Here are the top stocks to watch this week, and what’s moving the markets.

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KV’s S&P 500 Levels

Weekly Market Recap

Tariff Turmoil

The U.S. announced a sweeping 10% reciprocal tariff on all countries starting April 5, with even higher rates for nations with larger trade deficits, like China (now 34%). While Canada and Mexico were exempt from the worst, the global nature of the tariffs sparked market volatility and Chinese retaliation. Uncertainty remains high, as the scope and duration of these tariffs are still unclear.

Growth vs. Inflation

Tariffs are expected to pressure economic growth and raise goods inflation. With U.S. imports at $3.3 trillion, a 20% average tariff could generate $660B — about 2.3% of GDP. Still, the U.S. enters from a strong position: solid job growth, household health, and robust earnings. Inflation may tick up in the short term, but anchored long-term expectations give the Fed room to cut if needed.

Stay Diversified

Markets may stay choppy, but investors should stay grounded. Historical data shows pullbacks are common, and missing just a few strong rebound days can greatly hurt returns. Diversification has helped in 2025, with international stocks and bonds offsetting U.S. equity weakness. Maintaining balance across styles, sectors, and geographies is key — especially with policy shifts still unfolding.

Coming Up…

Important economic releases this week include CPI inflation for March and the University of Michigan Consumer Sentiment Survey. On the earnings front, JPM, TLRY, WBA, DAL, WFC, and MS are expected to report this week.

Key Headlines We’ve Been Reading

This is what’s caught our eye over the past 7 days.

• Why OPEC+ is accelerating oil production as prices are tanking and tariffs hammer markets.
• Trump brings European wineries to their knees even before tariffs hit.
• Trump tariffs slam markets, stunned investors brace for slow growth, retaliation.
• Microsoft steps back from data center developments globally.
• SoftBank in talks for $16.5 billion bridge loan to accelerate U.S. AI expansion.

Trading Quote Of The Week

That was it for this week!

Stay safe,
KV 👋

Week #14 | April 6, 2025

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