🚀 Auto sales up ahead of tariffs

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. U.S. automakers, led by GM’s 16.7% sales surge, saw a strong first quarter as consumers rushed to buy vehicles ahead of Trump’s impending 25% auto tariffs, set to take effect Thursday. Hyundai, Kia, and Honda also posted gains, while Ford lagged slightly due to discontinued models. Analysts say fears of higher car prices drove a last-minute buying spree, though uncertainty remains over whether automakers will pass costs to consumers. While companies like Hyundai are ramping up U.S. production, the tariffs are expected to generate over $100 billion in revenue but could weigh on corporate earnings and consumer affordability.

2. President Trump is set to announce sweeping tariffs on imports Wednesday, a high-stakes gamble aimed at reshaping the U.S. economy by reducing the trade deficit and encouraging domestic manufacturing. While the administration touts the move as a step toward fairer trade, critics warn of inflation, economic stagnation, and potential retaliation from key trading partners. Markets remain on edge, with analysts divided on whether the tariffs will revive American industry or lead to stagflation and recession. Goldman Sachs has already slashed its U.S. growth forecast, and businesses report delaying investments due to uncertainty. With proposed tariff rates reaching as high as 60% for China, the world is bracing for a new era of economic brinkmanship.

3. The U.S. Department of Justice will seek the death penalty against Luigi Mangione for the December 4 murder of UnitedHealthcare CEO Brian Thompson, Attorney General Pam Bondi announced. Bondi called the killing a “premeditated, cold-blooded assassination” and framed the decision as part of President Trump’s push to restore capital punishment. Mangione, a 26-year-old Ivy League graduate, allegedly shot Thompson outside a New York City hotel in what the DOJ calls an act of “political violence” aimed at sparking debate over the healthcare industry. His attorney condemned the decision as a politically motivated execution. Mangione, held without bail, faces both state and federal charges, with New York prosecutors seeking life without parole, as the state lacks the death penalty.

4. Headlines

   1. Joelle Pineau, Meta’s VP of AI Research is leaving the company on May 30th.

   2. Cliff Asness’s hedge fund has returned 9% in Q1 despite the significant market collapse.

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