When Will Tesla See Sunny Days... Wall Street Downgrades Again [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① Soaring Living Costs Lead to Declining Consumer Sentiment
② Next Fed Chair Candidate Publicly Criticizes Powell
③ Global Advisory Firms: Is Their Influence Too Great?

MARKET INDEX

- US New York Stock Exchange's three major indices closed lower
- Momentum remains weak due to high price concerns
- Market eyes the consumer price index on the 29th

Top3 NEWS

■ Consumer Sentiment Index Falls for the First Time in 4 Months Amid Soaring Living Costs

- Bank of Korea reports decline in March consumer sentiment
- Impact of rising prices of apples, pears, and other living expenses
- "Consumers feel prices remain at a high level"

■ Tesla in Crisis... Wall Street Downgrades Investment Ratings Again

- Wall Street lowers rating from buy to neutral
- Stock price has already plummeted over 30% since the beginning of the year
- Wells Fargo and Goldman Sachs also cut target prices

■ Next Fed Chair Candidate Publicly Criticizes Powell: "Stimulating US Economy"

- Kevin Warsh, former Fed governor and next Fed chair candidate
- Publicly criticizes Powell for stimulating the economy
- "Service inflation excluding housing exceeds 4%"

Graphic News: Global Advisory Firms, Excessive Influence with Few Personnel?

- Global advisory firms control voting rights of foreign investors
- Very few staff in charge of Korea... 10 people manage 100 companies
- "Provide accurate information to foreigners... Need to nurture domestic advisory firms"

the Chart: Cement Companies Recorded Strong Performance Last Year, What About This Year?

- Cement companies posted strong results last year
- Benefits from stabilization of thermal coal prices and others
- Construction industry faces 'dark clouds' this year... Costs rising

Terms in the News: Expanding Authority through Special Legislation, 'Teukrye-si' (Special City)

[Image source=Yonhap News]

- Granting autonomy and discretionary powers to metropolitan cities with populations over 1 million
- Four special cities launched: Suwon, Yongin, Goyang in Gyeonggi Province, and Changwon in Gyeongnam Province
- Administrative services can be promoted under their own authority... Hwaseong City expected to join

Today's Key Schedule

○ Domestic

- 06:00 April Manufacturing Business Survey Index
- 27th KOSDAQ Hana 32 SPAC listing, offering price 2,000 KRW

○ Overseas
- 01:30 US Atlanta Fed Q1 GDPNow
- 05:30 US Petroleum Association Weekly Crude Oil Inventory
- 17:00 Spain March Consumer Price Index
- 20:00 France Total Job Seekers
- 23:30 US Crude Oil Inventory

◇ Lunch & Commute Weather

○ Lowest temperature 4℃(▼1℃) ｜ Highest temperature: 16℃(▼2℃)
○ Precipitation probability 10% in the morning｜20% in the afternoon
○ Fine dust Good in the morning｜Moderate in the afternoon

OK in 3 minutes, essential time-efficient economic news. Published daily at 8 AM.