The Week in Numbers: Tariffs, Nvidia Earnings, Tesla Sales, and Box Office Records

US Tariffs and Trade Negotiations

• ⚠️ A potential 50% US tariff on EU products was threatened by Trump but later retracted after a call with the European Commission Chief.
• 💬 Treasury Secretary Scott Bezant stated that tough talk proved effective in bringing the EU to the negotiating table quickly.

Nvidia's Mixed Financial Performance

• 📈 Nvidia reported a 69% surge in sales for its latest quarter, initially cheering markets.
• 📉 However, the company warned that US restrictions on shipments to China would reduce sales by $8 billion, leading to a forecast below Wall Street expectations.

Tesla's European Sales Decline

• 📉 Tesla experienced a 49% plunge in European sales for its EVs in April, despite overall market growth.
• 🚗 Analysts suggest the updated Model Y crossover is not boosting sales, and brand perception may be affected by Elon Musk's political stances.

Xiaomi's Record Revenue and Automotive Push

• 💰 Xiaomi achieved a record revenue of nearly $15.5 billion.
• 🚗 The phone maker is expanding into the car market with its new YU7 SUV, aiming to compete with Tesla.

North American Box Office Records

• 🎬 The top 10 films at North American cinemas set a record for Memorial Day weekend revenue, nearing $327 million.
• 🍿 Blockbusters like the latest Mission Impossible and Disney's Lilo and Stitch remake boosted takings, providing a needed lift to the film industry.