— Earnings from S&P 500 companies are expected to rise 7% for 1st quarter 2025 (down from estimated 11% growth at the start of the year), with twice as many companies so far (66) reporting “negative guidance.”
— The U.S. Federal Reserve held its key interest rate steady and signaled two rate cuts in 2025; Fed sees U.S. economy growing less than 2% this year with higher inflation.
— The Bank of England also held its key interest steady at 4.5% as global uncertainty over trade and geopolitics has intensified.
— The OECD cuts its U.S. economic growth forecast to 2.2% for this year and 1.6% for 2026, with its forecast for global economic growth dropping slightly to 3.1% for 2025 and 3.0% for 2026.
— In his first act in office, Canada’s new Prime Minister Carney ended the 2019 carbon tax that applies to consumers but is keeping it for businesses to encourage fewer emissions and clean energy.
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