From Yahoo Finance: 2025-05-02 21:00:00

• The U.S. economy added more jobs than expected in April, keeping the unemployment rate low. Despite a first-quarter GDP contraction due to import rushes, the stock market rallied from its lows. President Trump’s tariff policies are causing disruptions and anxiety among consumers, businesses, and investors, with economists predicting a higher chance of recession.
• Job creation has been steady, with businesses reluctant to cut workers. Consumer spending slowed, but demand remained solid. Concerns about tariffs, job security, and price hikes are causing Americans to tighten their belts, impacting sales across various industries.
• Uncertainty over Trump’s policies has led to companies cutting profit forecasts and increasing cost-cutting measures. Small businesses may be hit hard by scarce or higher-cost goods. Surveys show consumer confidence at a low, with worries about a recession rising sharply.
• Trade tensions are affecting U.S. exports, with some businesses seeing decreased sales due to international backlash against Trump. The economy remains exposed to shocks, with the post-Covid momentum wearing off. Some companies are adapting to tariffs by investing in automation and onshoring goods and services to mitigate costs.

Read more at Yahoo Finance: U.S. Economy Shows Remarkable Resilience in Face of Trade Turmoil