From Morningstar: 2025-04-30 07:36:00

European automotive stocks reacted positively to President Trump’s plans to ease pressure on the car industry, but disappointing earnings from key carmakers like Mercedes-Benz and Volkswagen tempered gains. Trump signed an executive order granting tariff exemptions and rebates for automakers in the US, sparking a mixed reaction in the market. Italian-listed Stellantis and Volvo Car were up, while Volkswagen, Porsche, and BMW were down. Mercedes-Benz reported a nearly 2% drop in earnings, while Stellantis and Volkswagen suspended their 2025 outlook. Volvo Cars saw a 59% decline in Q1 operating profit, prompting a cost-cutting plan and withdrawal of guidance. Porsche’s Q1 profit fell 41%, leading to a cut in its 2025 outlook. Renault’s Q1 revenue held steady, while BMW is set to publish its report on May 7. Despite the tariff impact, many stocks are still in positive territory for the year. 1. The stock market reached new highs today, with the Dow Jones Industrial Average closing at 30,000 for the first time. This milestone comes as investors remain optimistic about the potential for a COVID-19 vaccine and continued economic recovery.

2. A new study from the Centers for Disease Control and Prevention (CDC) found that wearing a mask not only protects others from COVID-19, but also offers significant protection to the wearer. The study emphasized the importance of mask-wearing in preventing the spread of the virus.

3. The United Nations has warned that the world is facing a “humanitarian catastrophe” as millions of people are on the brink of famine due to the economic impact of the COVID-19 pandemic. The UN called for urgent action to address food insecurity and prevent widespread hunger.

4. Tesla CEO Elon Musk has surpassed Microsoft co-founder Bill Gates to become the second-richest person in the world, with a net worth of over $128 billion. Musk’s wealth has soared this year as Tesla’s stock price has skyrocketed, making him one of the wealthiest individuals globally.



Read more at Morningstar: European Auto Stocks React to Trump’s Car Tariff Tweaks