🚀 IBM investing $150B into US

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. IBM announced it will invest $150 billion in the U.S. over the next five years, including more than $30 billion dedicated to boosting American manufacturing of its mainframe and quantum computers. CEO Arvind Krishna emphasized the company's long-standing focus on U.S. jobs and technology leadership, framing the move as key to maintaining IBM’s role at the forefront of computing and AI. The announcement follows President Trump's rollout of new "reciprocal" tariff policies aimed at supporting U.S. manufacturing, although key tech components like chips and smartphones remain exempt. IBM’s investment mirrors a broader trend, with Nvidia also committing to significantly ramp up U.S.-based AI infrastructure production.

2. Chinese factories are pausing production, furloughing workers, and scrambling to find new markets as new U.S. tariffs, which more than doubled this month, begin to take effect, with industries such as toys, sporting goods, and low-cost goods hit hardest. Exporters are trying strategies like livestreaming to sell domestically, aided by tech platforms like Baidu and JD.com, but these efforts barely dent the scale of lost U.S. business. Meanwhile, companies are diversifying to Europe, Latin America, and Southeast Asia, though shifting away from the U.S. won’t be easy or fast, and many businesses may not survive the sudden cost shocks.

3. As PayPal kicks off fintech earnings this week, investors are bracing for signs that Trump’s sweeping new tariffs, including the end of de minimis exemptions on low-cost Chinese imports, could dampen consumer spending and rattle e-commerce. PayPal, Block, and Affirm have all seen their stocks fall sharply this year, though hopes for a softened trade stance have fueled a small rally. With tariffs as high as 145% on Chinese goods and universal import tariffs set at 10%, companies like PayPal, which rely heavily on consumer transactions and international markets, are warning of margin pressures and slowing growth. Analysts expect modest revenue growth from PayPal and Block, and a sharp slowdown at Affirm, all of which are vulnerable to discretionary spending declines as consumers adjust to higher prices and economic uncertainty.

4. Headlines

   1. Deliveroo ‘s shares hit a three-year high on rumours of a takeover offer from Doordash.

   2. Trump’s approval rate is starting to drop significantly as he approaches 100 days in office.

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*The Deloitte rankings are based on submitted applications and public company database research.}

Onwards and Upwards,

Liam Gill