By coinnews 
00:00 Speaker A
So let’s get to the three things you need to know today.
00:03 Speaker B
First up, US stock futures falling this morning as trade volatility returns to markets. President Trump lashing out against China today saying that they have violated their trade agreement. His comments coming after Treasury Secretary, Scott Benson said talks with China are quote a bit stalled. All of this following a federal appeals court ruling that offered a temporary reprieve to Trump from the trade court that had deemed his tariffs illegal.
00:34 Speaker A
Plus the latest read on the economy out this morning. Inflation data coming in soft for the month of April, but consumer spending is showing signs of slowing. The standout in today’s economic data, however, are some of the imports to the US which saw their biggest drop on record. April imports fell nearly 20% last month, according to the Census Bureau’s advanced economic indicators report.
01:01 Speaker B
And gap shares sinking this morning after the company predicted a tariff impact of $250 to $300 million and revealed weakness at Banana Republic and Athleta. The retailer is just the latest in the sector to highlight the impact of President Trump’s trade war. The stock falling as much as 18%, putting it on track to erase almost its entire year to date gain.