Trump calls Fed chief a fool after decision + US auto industry criticizes Trump's deal with UK + Half of high-tech chips to come from US + Trade Desk beats expectations for first quarter

Trump calls Fed chief a fool after decision

• US President Donald Trump has called Fed Chairman Jerome Powell a fool following the Federal Reserve's decision to leave the key interest rate unchanged for the time being.
• "Jerome Powell is a fool who has no idea", Trump wrote on his Truth Social platform.
• He had already attacked Powell several times in the past, calling him a "loser" or "Mr. Too Late".
• The Fed had been on a collision course with Trump, who is vehemently calling for interest rate cuts, the day before.
• In view of Trump's aggressive tariff policy, it had opted for a wait-and-see approach and does not want to commit to cutting interest rates any time soon.
• "We have to wait and see how the situation develops," said Fed Chairman Powell when asked by a reporter whether the central bank should cut interest rates at all this year.
• The Fed left the key interest rate at a high level in the range of 4.25 to 4.5 percent.

US car industry criticizes Trump's deal with the UK

• US President Donald Trump's trade pact with the UK has gone down badly with the US automotive industry.
• The reason for this is the reduction in import duties for 100,000 British cars from 25 to 10 percent.
• This would favor manufacturers from the UK over their own industry, criticized the industry association AAPC.
• It represents the big three US car manufacturers: Ford $F (+0.78%) , General Motors $GM (-0.7%)and the Stellantis Group $STLAM (-1.17%)with brands such as Jeep and Dodge.
• Trump's government had imposed tariffs of 25 percent on imported vehicles and components.
• The US manufacturers produce some car models in Mexico and Canada and also source parts from there for production in the USA.
• A large proportion of these are initially exempt from the tariffs as long as the requirements of the USMCA free trade agreement are met.
• Association sees damage for US industry
• Over time, however, the foreign components of USMCA-compliant imported vehicles will also be subject to a 25 percent tariff.
• The trade pact will make it cheaper to bring a British car to the USA than a vehicle from Canada or Mexico, half of which consists of US parts, criticized the association.
• This would harm American manufacturers, suppliers and employees.
• Trump's Secretary of Commerce Howard Lutnick had argued that 100,000 vehicles only made up a small part of the US car market but were a relevant amount for British manufacturers such as Rolls-Royce, Bentley, Jaguar and Land Rover.

US Secretary of Commerce: Half of high-tech chips to come from the USA

• US President Donald Trump's administration has set a new ambitious target for the semiconductor market: 50 percent of modern high-tech chips are to be produced in the USA.
• This should give the country the "firepower" to develop artificial intelligence, said Secretary of Commerce Howard Lutnick on US broadcaster CNBC.
• The majority of chips have been produced in Asia for decades.
• The most modern semiconductors for smartphones or AI data centers, for example, come from Taiwan from contract manufacturer TSMC $TSM (-0.63%).
• There is great concern in the West that China could cut off supplies.
• Trump's predecessor Joe Biden therefore tried to bring more production to the USA.
• His government promised subsidies of around 39 billion dollars (35 billion euros) for this, and several plants are currently being built.
• Trump criticized the aid as a waste of money and wants to focus on tariffs instead.
• Restrictions on the export of US chips At the same time, Trump's government under Biden overturned export barriers for AI technology.
• Export restrictions were planned for many countries - to prevent chips and software from reaching countries such as China via detours.
• Lutnick criticized that this would have cut off allies such as Poland from modern US technology.
• The Trump administration has a different approach.
• According to this, chip deliveries should be permitted if they come to data centers of US operators, said Lutnick.
• As a second requirement, the data center would have to be connected to a cloud infrastructure "from someone we trust".

The Trade Desk $TTD (-3.74%)exceeds expectations for the first quarter thanks to strong demand for advertising technology

• Trade Desk released first-quarter revenue and earnings figures on Thursday that beat analysts' expectations thanks to strong demand for automated ad-buying technology.
• The company's shares rose by 14% in after-hours trading.
• The advertising company's strong results come at a time when companies are reducing their marketing spending due to prevailing recession fears and the uncertain economic situation.
• The advertising platform offers advertisers access to an extensive network of publishers and media partners across a range of industries, enabling them to target their advertising campaigns with precision.
• The Trade Desk is expanding support for its advertising ID "Unified ID 2.0" (UID2), which it says is more privacy-focused and an improvement and alternative to third-party cookies.
• Revenue increased by 25% to USD 616 million in the first quarter, exceeding estimates of USD 584 million, according to data from LSEG.
• On an adjusted basis, the company posted earnings of 33 cents per share for the quarter, above estimates of 25 cents.
• Trade Desk, which has partnerships with retailers such as Walmart, is forecasting second-quarter sales of at least $682 million, slightly below analysts' average estimate of $683.2 million.

Friday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• Allianz EUR 15.40
• MTU Aero Engines EUR 2.20
• Talanx EUR 2.70
• IBM USD 1.68
• Mensch und Maschine Software EUR 1.85
• Kuehne + Nagel International 8.25 CH
• Pfizer 0.43 USD
• Walmart 0.24 USD

• Quarterly figures / company dates USA / Asia
• 16:00 Colgate-Palmolive | AbbVie AGM

• Quarterly figures / company dates Europe
• 07:00 Commerzbank | Krones Quarterly figures
• 07:30 Bechtle quarterly figures
• 08:00 PNE AG | International Consolidated Airlines Quarterly figures
• 09:00 Commerzbank Analyst Conference
• 10:00 Drägerwerk AGM | PNE AG Analyst and Press Conference
• 10:30 Commerzbank | Bechtle PK
• 11:00 Villeroy & Boch AGM
• 13:00 Krones Analyst Conference

• Economic data

04:00 CN: April trade balance PROGNOSE: +97.60bn USD previous: +102.64bn USD Exports PROGNOSE: +2.5% yoy previous: +12.4% yoy Imports PROGNOSE: -5.5% yoy previous: -4.3% yoy

12:45 IS: Fed Governor Barr and Fed Governor Kugler (14:30) and Fed Governor Waller (17:30) et al, Reykjavik Economic Conference

14:30 US: Fed Richmond President Barkin to participate in Loudon County Chamber of Commerce Fireside Chat

16:00 US: Fed-Chicago President Goolsbee, attends Fed list-serve event

17:30 US: Fed Richmond President Barkin, attends Greater Washington Board of Trade event

No time specified:

- DE: Start of the trade fair "Invest - the financial event for your future ", Stuttgart

- RU: China's President Xi, visit to Russia

- FR: France's President Macron and Poland's Prime Minister Tusk sign defense agreement

Small compensation for the modest share price performance... $STLAM (-1.17%)

Johnson & Johnson (Pharmaceuticals) - $JNJ (+1.7%) Invests over 55 billion US$ in the USA within four years to expand production and researchreuters.com. Four new plants are planned (the first in Wilson, North Carolina, has already been launched)reuters.com. This step was taken in March 2025, shortly after the Trump administration imposed a import tariff of 25 % on medicines on medicines and is intended to help produce more medicines domesticallyreuters.com
reuters.com. (Source: company statement/Reuters)

Roche (Pharmaceuticals) - $ROG (+1.52%) The Swiss pharmaceutical company announced 50 billion US$ investments in the USA over the next five yearsfaz.net. This is Roche's response to President Trump's threat to impose tariffs of ~25 % on pharmaceutical importsto produce more important medicines in the USAfaz.net
faz.net. Plans include 1,000 new jobs in production and research (plus approx. 11,000 jobs with suppliers and construction) in the USAfaz.net. Announcement was made in April 2025 (Source: Company statement/F.A.Z.)

Eli Lilly (Pharma) - $LLY (+1.41%) Announced in Feb. 2025, 27 billion US$ to invest in the construction of four new production facilities in the USAreuters.com. This is expected to more than double US production capacity and create over 3,000 new high-tech jobs (plus ~10,000 construction jobs)reuters.com. The background to this is the threat of a 25% tariff on drug imports, which is prompting Lilly to relocate production from Ireland & Co. to the USAfaz.net. (Source: Company statement/Reuters)

Novartis (Pharma) - $NOVN (+1.7%) Plant 23 billion US$ for the expansion of 10 US sites (including 6 new production plants and an R&D center in San Diego)reuters.com. This five-year investment offensive (announced on April 10, 2025) comes two days after Trump announced "big tariffs" on drug imports
reuters.com. Novartis wants to relocate the production of important drugs to the USA (>1,000 new highly qualified jobs plus ~4,000 jobs in construction and support)reuters.com
reuters.com. (Source: Company statement/Reuters)

Merck & Co (Pharmaceuticals) - $MRK (+1.06%) In March 2025, the US pharmaceutical company (not to be confused with Merck KGaA) opened a new US$ 1 billion plant in North Carolina and announced plans to invest a total of ~8 billion US$ in the USA by 2028reuters.com
reuters.com. Trump is increasing the pressure on the industry to move production back and has threatened to impose 25 % tariffs on pharmaceutical products
reuters.com. Merck has responded by investing over USD 12 billion in US plants since 2018 and is continuing to expand in order to circumvent import tariffsreuters.com
reuters.com. (Source: Reuters)

Hyundai (Automotive) -$HYUD In March 2025, the South Korean manufacturer announced a package of 21 billion US$ of investments in the USAspectrumlocalnews.com. This includes, among other things US$ 5.8 billion for a new steel mill in Louisiana (approx. 1,400 jobs)spectrumlocalnews.com and a new e-car plant in Georgia (US$ 8 billion)which will create over 8,500 jobsspectrumlocalnews.com. Hyundai is thus increasing its US production capacity to over 1 million vehicles/year
autohaus.de
spectrumlocalnews.com. President Trump saw this as a success for his tariffs - Hyundai would "produce its steel in America and build cars in America and thus not have to pay tariffs"
autohaus.de
spectrumlocalnews.com. (Source: Company statement/Spectrum News)

Stellantis (Automotive) - $STLAM (-1.17%) The Fiat-Chrysler/PSA Group provides 5 billion US$ to expand its US production facilitieswhitehouse.gov. The centerpiece is the reopening of the Belvidere plant (Illinois), which was shut down in 2023 to produce new models (including a mid-size pickup)automotivemanufacturingsolutions.com. This will create around 1,500 jobs for regular UAW employees will be restoredautomotivemanufacturingsolutions.com
automotivemanufacturingsolutions.com. This investment was announced in late 2024/early 2025 in connection with the new UAW collective bargaining agreement and Trump's auto tariffs (25% on imported cars from April 2025) agreed - Stellantis' Chairman met personally with Trump to "secure the future of the company"automotivemanufacturingsolutions.com. (Source: Company statement/FT/AMS)

TSMC (Semiconductor) - $TSM (-0.63%) The Taiwanese chip contract manufacturer TSMC announced in March 2025 that it will invest an additional 100 billion US$ to invest in the USAreuters.com. The plan is to build five new factories over the next few years (three chip fabs, two packaging plants and a large R&D center)reuters.com
reuters.com. The background to this is US efforts to be less dependent on Asian chips (national security) - Trump emphasized that key semiconductors "be built here in the USA"reuters.com. TSMC's expansion is expected to create 40,000 construction jobs in four yearsreuters.com and reduce dependence on imports. (Source: Company statement/Reuters)

Apple (Electronics) - $AAPL (-0.13%) The tech company announced 2025, 500 billion US$ to invest in US manufacturing and educationwhitehouse.gov. This enormous sum (over 4 years) includes already planned expenditures, but signals Apple's willingness, to relocate more production and value creation to the USA
reuters.com. Apple has been under pressure because many of its products (iPhone, Mac) are manufactured in China and are being targeted by Trump's China tariffs could be targeted by Trump's China tariffs. The investment pledge - including new US locations and supplier programs - is intended to help maintain exemptions from import tariffs and promote "Made in USA"reuters.com
reuters.com. (Source: Company statement/White House, Reuters)

Sources: Primary data from the companies and reports (F.A.Z., Reuters, Spectrum News, etc.), see citations.

Chevron sentenced for environmental damageA court in the USA has sentenced Chevron $CVX (-0.28%) for damages after the environmental organization Lowlander Center uncovered alarming environmental problems. The organization points out that the canals dug for oil and gas rigs in the Gulf of Mexico significantly impede the natural flow of water in the adjacent wetlands. The consequences are serious: during heavy storms, masses of water can flow unhindered inland instead of being distributed in the branches of the marshland. A law dating back to 1978 obliges companies to restore used areas to their original state after the end of operations, but Chevron has not complied with this obligation. The lawsuit accuses the company of failing to obtain proper permits and to properly dispose of wastewater, resulting in contamination of the affected areas. The court's decision could have far-reaching consequences for Chevron and the entire industry, as it puts a clear focus on the responsibility of companies for environmental damage.

US car tariffs force Nissan to halt sales and Ford to offer discountsThe new car tariffs in the USA are already having an impact and are causing turbulent times in the automotive industry. Nissan $NISA has therefore temporarily stopped selling vehicles in the USA in order to escape the effects of the tariffs. This decision shows how quickly companies have to react to economic changes. Ferrari $RACE (-0.16%) is not unaffected by the new tariffs and has increased the prices of its models by up to 10 percent. This is one of the first reactions of a manufacturer to the increased customs duties. Stellantis $STLAM (-1.17%)the parent company of Opel and Chrysler, has also announced that it will cease production in Canada for 14 days. This measure was announced by the trade union Unifor via Facebook and makes it clear that the new customs regulations not only have a significant impact on manufacturers, but also on the US workforce. The automotive industry is facing a challenging time in which strategic action and adaptability are required.

Sources:

https://www.manager-magazin.de/unternehmen/industrie/usa-gericht-verurteilt-chevron-zu-schadensersatz-fuer-umweltschaeden-a-e999ccc6-0c14-4673-8786-d47405c81d69

https://www.manager-magazin.de/unternehmen/autoindustrie/us-autozoelle-in-kraft-volkswagen-stoppt-auslieferung-stellantis-unterbricht-produktion-a-4712a802-0776-482a-9eca-8e637ee3580a

The profit of Stellantis $STLAM (-1.17%) slumped by almost two thirds in 2024, which also had a negative impact on the share price. Experts advise streamlining the portfolio, with a particular focus on the premium brands Alfa Romeo, DS and Lancia.

In order to become competitive again in the USA, Stellantis announced massive investments at the beginning of the year. The Group plans to invest over 5 billion dollars in the US markets in the coming years. As part of this strategy, Chairman of the Board of Directors Elkann also sought talks with US President Donald Trump.

Source: https://www.manager-magazin.de/unternehmen/stellantis-gewinn-sinkt-um-fast-zwei-drittel-a-c6abd743-df49-43b4-9526-f8d30b1d8d44

Let's continue with the quarterly figures😬

among others

$NVDA (-1.09%)
$HIMS (-6.95%)
$HD (+1.16%)
$LOW (+1%)
$CRM (-0.15%)
$SNOW (+0.37%)
$VST (-1.55%)
$TMDX (-0.73%)
$O (+1.04%)
$STLAM (-1.17%)
$AXON (+0.05%)
$KDP (+2.42%)
$DOM (+0.63%)
$INTU (+1.75%)
$ZETA (-4.57%)

In the current issue, "Der Aktionär" recommends these dividend stocks.

For a peaceful night's sleep (conservative):

• E.On $EOAN (+1.15%)
• Johnson & Johnson $JNJ (+1.7%)
• Munich Re $MUV2 (+1.32%)
• PepsiCo $PEP (+1.95%)
• Procter & Gamble $PG (+2.18%)

Top dividend with medium risk can be seen in:

• Andritz $ANDR (-0.55%)
• Freenet $FNTN (+2.5%)
• Imperial Brands $IMB (-0.31%)
• Traton $8TRA (-4.78%)

Dividends with a yield kick are located in these shares:

• Frontline $FRO (-1.35%)
• Petrobas $PETR3 (-1.09%)
• Repsol $REP (-0.41%)
• Stellantis $STLAM (-1.17%)

Source: Der Aktionär, Issue 08.2025

Happy New Year everyone! We are starting the new year with adjustments to the Sina ETF. (The performance here below somehow no longer corresponds to the actual performance, but so be it...) After this post you'll have peace and quiet from my ETF again :D

I sold some stocks and invested the dividends I received last year. That left me with 19 euros in cash, so it's still a 40-share ETF ;)

If this were my only portfolio, I would probably have held more cash and not reinvested directly, as the entry point doesn't always seem optimal. But I also proceeded without regard to entry points.

For the question of how high the profits or losses were, please refer to the portfolio.

Out are:

$STLAM (-1.17%) (loss)

$AFX (-0.49%) (loss)

$MC (-2.97%) (loss)

$OR (+1.35%) (loss)

$7203 (-1.58%) (loss)

$D05 (+1.56%) (Profit)

$RHM (+4.73%) (Profit)

$ENR (+2.87%) (Profit; also dropped from my "real" portfolio)

Partial sale:

$WMT (-1.03%) at 50%

Increased by:

$AAPL (-0.13%)

$MSFT (+0.51%)

$ASML (-0.25%) Since the position was down over 20%, but I am convinced in the long term

$GOOGL (-0.17%)

New additions:

$BKNG (-0.01%)

$JPM (+0.05%)

$NU (-1.93%)

$COST (+1.55%)

$AFL (+1.32%)

$INTC (-0.08%)

$CRM (-0.15%)

$NOVO B (+0.97%)