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Consumer spending climbs 0.7% in March. Auto sales surge.

PCE shows inflation rate decelerating to 2.3%

Norwegian Cruise Line’s stock fell more than 8% in premarket trading on Wednesday after the cruise operator warned it expects to fall short of Wall Street analyst estimates for its second quarter as it faces an uncertain economic outlook.

“The first quarter of 2025 played out largely as expected,” Etsy said.

While Humana affirmed its full-year profit outlook, which can be viewed as a positive in the current uncertain economic environment, quarterly revenue came up a bit shy, and the earnings outlook for the current quarter was below Wall Street projections.

The U.S. economy contracted in the first quarter of 2025 for the first time in three years, reflecting a surge in imports ahead of President Trump’s tariffs and a slowdown in consumer spending.

Caterpillar expects “negative economic growth” in the second half of the year.

Amazon reports earnings on Thursday, and investors will be focused on the outlook for signs of tariff-related pressure.

Goldman Sachs strategist Vickie Chang is not convinced the S&P 500’s tariff-induced wild days are over yet.

OPEC+ shocked the market earlier this month with plans to ramp up crude output, setting oil prices up for their worst monthly performance in years. Now the group of oil producers might add even more barrels.

Social Security claiming is usually permanent, but there are some exceptions.

Chrysler owner Stellantis and Mercedes-Benz withdrew their guidance for the year while Volkswagen said it was expecting profits at the low end of a previous range as automakers struggle to assess the impact of President Donald Trump’s tariff policy.