• Global financial markets showed signs of stabilizing on Tuesday after China’s retaliatory tariffs against imports from the US rattled Wall Street. While Asian stocks ended lower, major European indices are trading higher while Dow futures point to mild recovery.
• The unemployment rate in the UK fell in the first quarter of 2019 to its lowest level since 1974, showing further signs of tightening despite Brexit uncertainties. UK’s unemployment rate edged lower to 3.8 percent from 3.9 percent, while the employment rate sat at a record high of 76.1 percent.
• Dallas Federal Reserve Bank President Robert Kaplan said that the Fed’s rate-setting is where it should be in the current environment. On US-China trade dispute Kaplan commented that he was hopeful that both the nations would work out something. He is expecting however, that tensions will remain elevated for some time.
• European Trade Commissioner Cecilia Malmström expects US President Donald Trump to delay a May 18 deadline for US tariffs on cars imported from the European union. Trump is due to decide about tariffs which could affect some $53 billion worth of car and auto part exports.
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