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AMAZON $AMZN CEO ON TARIFFS:
"Obviously, none of us knows exactly where tariffs will settle or when. We haven’t seen any attenuation of demand yet."
"To some extent, we’ve seen some heightened buying in certain categories that may indicate stocking up in advance of any potential tariff impact."
"We also have not seen the average selling price of retail items appreciably go up yet. Some of this reflects some forward buying we did in our first-party selling, and some of that reflects some advanced inbounding our third-party sellers have done. But a fair amount of this is that most sellers just haven’t changed pricing yet."
"Again, this could change depending on where tariffs settle."
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AMAZON $AMZN CEO ON TARIFFS:
"Obviously, none of us knows exactly where tariffs will settle or when. We haven’t seen any attenuation of demand yet."
"To some extent, we’ve seen some heightened buying in certain categories that may indicate stocking up in advance of any potential tariff impact."
"We also have not seen the average selling price of retail items appreciably go up yet. Some of this reflects some forward buying we did in our first-party selling, and some of that reflects some advanced inbounding our third-party sellers have done. But a fair amount of this is that most sellers just haven’t changed pricing yet."
"Again, this could change depending on where tariffs settle."
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$AAPL sees ~$900M Q3 tariff hit, says full impact unclear. Guides June rev up low-mid single digits YoY; Gross Margin seen at 45.5%-46.5% vs 46.7% est.
Apple now expects most U.S.-sold iPhones to be made in India, with iPads, Macs, Watches, and AirPods shifting to Vietnam. https://t.co/7N02B1q3rM
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$AAPL sees ~$900M Q3 tariff hit, says full impact unclear. Guides June rev up low-mid single digits YoY; Gross Margin seen at 45.5%-46.5% vs 46.7% est.
Apple now expects most U.S.-sold iPhones to be made in India, with iPads, Macs, Watches, and AirPods shifting to Vietnam. https://t.co/7N02B1q3rM
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Amazon $AMZN CEO Andy Jassy: “Our AI business is now a multi-billion dollar run-rate, growing triple digits YoY. As fast as we add capacity, it’s being consumed. Demand is outpacing supply—we simply can’t build AI fast enough.” https://t.co/eLYtQaA87A
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Amazon $AMZN CEO Andy Jassy: “Our AI business is now a multi-billion dollar run-rate, growing triple digits YoY. As fast as we add capacity, it’s being consumed. Demand is outpacing supply—we simply can’t build AI fast enough.” https://t.co/eLYtQaA87A
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Forget earnings or macro. We’re now predicting how many times Elon tweets by May 2. We’ve officially hit peak capitalism, lol 😂 https://t.co/HTllYa5hn7
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Forget earnings or macro. We’re now predicting how many times Elon tweets by May 2. We’ve officially hit peak capitalism, lol 😂 https://t.co/HTllYa5hn7
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Wall St Engine
Today's Key Events (All EST) — 05/02/2025
08:30: US Unemployment Rate (Est. 4.2%)
08:30: US Nonfarm Payrolls (Est. 138K)
08:30: US Average Earnings YoY
10:00: US Factory Orders MoM
10:00: US Durable Goods Revised
Before Open 👇
02:00: Shell $SHEL
05:00: Magna International $MGA
06:00: Cigna $CI
06:00: DuPont $DD
06:15: Chevron $CVX
06:30: Exxon Mobil $XOM
06:30: Eaton $ETN
06:30: Apollo Global Management $APO
06:30: Westlake Chemical $WLK
06:30: Cinemark $CNK
06:30: Westlake Partners $WLKP
06:55: Brookfield Renewable $BEP
07:00: Wendy's $WEN
07:00: T. Rowe Price $TROW
07:30: Cboe Global Markets $CBOE
08:00: Piper Sandler $PIPR
08:30: Franklin Resources $BEN
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Today's Key Events (All EST) — 05/02/2025
08:30: US Unemployment Rate (Est. 4.2%)
08:30: US Nonfarm Payrolls (Est. 138K)
08:30: US Average Earnings YoY
10:00: US Factory Orders MoM
10:00: US Durable Goods Revised
Before Open 👇
02:00: Shell $SHEL
05:00: Magna International $MGA
06:00: Cigna $CI
06:00: DuPont $DD
06:15: Chevron $CVX
06:30: Exxon Mobil $XOM
06:30: Eaton $ETN
06:30: Apollo Global Management $APO
06:30: Westlake Chemical $WLK
06:30: Cinemark $CNK
06:30: Westlake Partners $WLKP
06:55: Brookfield Renewable $BEP
07:00: Wendy's $WEN
07:00: T. Rowe Price $TROW
07:30: Cboe Global Markets $CBOE
08:00: Piper Sandler $PIPR
08:30: Franklin Resources $BEN
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Wall St Engine
TRUMP ENDS DE MINIMIS EXEMPTION FOR CHINA SHIPMENTS
Starting today, small-value packages from China and Hong Kong—like those from Shein and Temu—will no longer enter the U.S. duty-free. Trump called the loophole a “big scam,” and it’s now closed. Those parcels will face a 120% tariff or a flat fee starting at $100 and rising to $200 by June. The move hits low-cost imports hard, with Shein already hiking prices on top-selling items by 50% or more. $PDD Temu says its U.S. pricing won’t change—for now—as it shifts sales to local sellers.
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TRUMP ENDS DE MINIMIS EXEMPTION FOR CHINA SHIPMENTS
Starting today, small-value packages from China and Hong Kong—like those from Shein and Temu—will no longer enter the U.S. duty-free. Trump called the loophole a “big scam,” and it’s now closed. Those parcels will face a 120% tariff or a flat fee starting at $100 and rising to $200 by June. The move hits low-cost imports hard, with Shein already hiking prices on top-selling items by 50% or more. $PDD Temu says its U.S. pricing won’t change—for now—as it shifts sales to local sellers.
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CHINA EVALUATING US TRADE TALKS
China’s MOFCOM said the U.S. 🇺🇸 “has recently taken the initiative to convey information to China 🇨🇳 through relevant parties,” seeking to reopen tariff talks. China is “currently conducting an assessment” and warns, “If the U.S. does not correct its erroneous unilateral tariff measures… it has no sincerity.” China added, “If we fight, we fight to the end. If we talk, the door is open.”
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CHINA EVALUATING US TRADE TALKS
China’s MOFCOM said the U.S. 🇺🇸 “has recently taken the initiative to convey information to China 🇨🇳 through relevant parties,” seeking to reopen tariff talks. China is “currently conducting an assessment” and warns, “If the U.S. does not correct its erroneous unilateral tariff measures… it has no sincerity.” China added, “If we fight, we fight to the end. If we talk, the door is open.”
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Wall St Engine
China’s Ministry of Industry is telling automakers to ramp domestic chip use to 25% this year, up from just 15% in late 2024 — a tough ask, given reliance on U.S. and European suppliers. Beijing quietly exempted key American auto chips from tariffs last month after lobbying by Chinese carmakers, underscoring the country’s continued dependence despite a big localization push. One state-owned automaker put it bluntly: “We need to move faster to replace American parts from the system.”
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China’s Ministry of Industry is telling automakers to ramp domestic chip use to 25% this year, up from just 15% in late 2024 — a tough ask, given reliance on U.S. and European suppliers. Beijing quietly exempted key American auto chips from tariffs last month after lobbying by Chinese carmakers, underscoring the country’s continued dependence despite a big localization push. One state-owned automaker put it bluntly: “We need to move faster to replace American parts from the system.”
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