🚀 Consumer Sentiment Reaches Record Low

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Market Overview
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Year To Date Performances:

1. The University of Michigan's consumer sentiment index plunged to an all-time record low of 47.6 in April, driven by intense anxiety over energy prices and the geopolitical fallout of the Iran war. This 10.7% monthly drop coincided with a sharp escalation in one-year inflation expectations, which jumped to 4.8%—a full percentage point increase from March. While survey director Joanne Hsu noted that most interviews occurred prior to the April 7 ceasefire, the data underscores a public deeply rattled by the conflict. Parallel to the sentiment drop, the Bureau of Labor Statistics confirmed a 0.9% monthly surge in the Consumer Price Index (CPI) for March, pushing the annual inflation rate to 3.3%. This inflationary spike was almost entirely fueled by energy costs, as the global oil market reacted to the initial disruptions in the Persian Gulf.

2. Taiwan Semiconductor Manufacturing Co. reported a record-breaking first-quarter revenue of $35.6 billion, marking a massive 35% year-on-year increase. Driven by an insatiable demand for high-end AI silicon from top-tier clients like Nvidia and Apple, the world’s leading foundry significantly outperformed analyst expectations despite global economic headwinds and Middle Eastern supply chain anxieties. March was particularly explosive, with revenue surging 45.2% compared to the previous year, as the company effectively leveraged its dominance in cutting-edge manufacturing nodes and reportedly implemented price hikes for its most advanced chips. While the broader consumer electronics market, including PCs and smartphones, has struggled with memory shortages and fluctuating demand, the AI infrastructure segment has more than compensated for these losses.

3. President Donald Trump used his Truth Social platform to laud Palantir Technologies (PLTR) for its "great war fighting capabilities," even as the stock faced a bruising 15% weekly decline. Despite the presidential endorsement, market sentiment remained pressured by broader software sell-offs and renewed skepticism from high-profile short-seller Michael Burry, who continues to bet against the company. Palantir's stock, currently trading around $127.40, has become a central fixture of the U.S.-Iran conflict infrastructure, with the military reportedly utilizing its Maven Smart System to identify targets in the Middle East.

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   2. CPI in March rose by 3.3%