By Asset Allocator Journal Staff
The U.S. trade deficit narrowed to $73.8 billion in April, the smallest since September 2023, down from $75.1 billion in March, according to Advisor Perspectives. Exports increased by $2.1 billion to $263.7 billion, driven by civilian aircraft and industrial supplies, while imports fell $1.9 billion to $337.5 billion due to lower demand for consumer goods. The Department of Commerce reported this shift.
Global stock markets rose as investors anticipated Federal Reserve rate cuts amid cooling inflation, the Financial Times reports. Emerging markets, particularly in Asia and Latin America, led with gains in tech and commodity stocks. The MSCI World Index advanced 2.3%, marking its best weekly performance in three months.
Per Advisor Perspectives, U.S. initial unemployment claims rose by 8,000 to 229,000 for the week ending May 31, exceeding forecasts of 220,000. Continuing claims increased by 5,000 to 1.79 million, with the four-week moving average at 222,250. The Department of Labor reported these figures.
HMRC reported £47 million stolen through phishing scams targeting 100,000 UK taxpayer accounts, per the Financial Times. Fraudsters used emails and texts mimicking HMRC to steal personal and financial data, exploiting online tax system vulnerabilities. The scams showed a significant rise in activity.
Advisor Perspectives notes JPMorgan Chase appointed Marianne Lake to lead its consumer banking division, including retail, credit cards, and wealth management. Lake, a contender to succeed CEO Jamie Dimon, assumed these roles in a leadership restructuring. The bank announced this as part of its succession planning.
Concerns arose that Tata Steel may be excluded from a U.S.-UK trade deal under negotiation, BMMagazine reports. Trump’s tariff policies prioritize U.S. industries, potentially affecting Tata’s UK operations, particularly its Port Talbot plant. Talks between the Starmer government and the U.S. remain ongoing.
Trump’s Truth Social platform is nearing SEC approval for a Bitcoin ETF to track Bitcoin’s performance, according to Advisor Perspectives. The ETF aims to provide cryptocurrency exposure through traditional markets. The platform has engaged with regulators to meet compliance requirements.
Commonwealth reports advisors are using AI tools for personalized portfolio management, predictive analytics, and automated client communication. A survey showed 68% of advisors using AI reported improved client satisfaction and efficiency. These tools allow tailored investment strategies.
