US and Ukraine Sign Minerals Deal; US Economy Contracts; Tech Earnings Roundup

US-Ukraine Minerals Agreement

• 🤝 The US and Ukraine have signed a significant minerals deal, granting the US preferential access to Ukrainian mineral resources.
• 💰 This agreement also includes US funding for the reconstruction of Ukraine.
• 🇺🇦 Ukraine hopes this deal will secure continued US support in its defense against Russia.

US Economic Performance

• 📉 The US economy contracted by 0.3% in the first three months of 2025, a worse-than-expected figure.
• 📈 This contraction was attributed to companies stockpiling goods from abroad to avoid impending tariffs.
• 📊 US stock markets experienced a decline following this economic news but recovered some losses by the end of the session.

Big Tech Earnings and Market Movers

• ☁️ Microsoft saw its share price rise by 7% after reporting stronger-than-expected growth in its Azure cloud computing business.
• 📈 Meta also reported a strong performance, primarily driven by its advertising revenue, leading to a 5% share price increase.
• 🍎 Apple is expected to report increased first-quarter revenue despite flat iPhone sales.
• 📦 Amazon anticipates revenue growth due to its cloud business, with investors keen to understand its retail arm's performance amidst trade tensions.
• 🚗 Tesla's share price has fallen approximately 30% this year, with the chair denying reports of the board considering replacing CEO Elon Musk.

Global Economic Watch

• 🏦 The Bank of Japan maintained its interest rates at 0.5% but sharply cut its growth forecasts.
• 🌍 The central bank cited uncertainty surrounding US tariffs and their potential impact on Japan's exports as a key concern.