Morning Report 04 Feb 25: Trump delays Mexico tariffs by a month

US share markets rebounded from recent lows on hopes of a resolution to tariff tensions, while US bond yields fell as investors sought safety. Manufacturing activity in the US expanded for the first time since 2022, offering a positive signal for the economy. However, European shares recorded their steepest daily drop of 2025, and the US dollar softened following a one-month pause on Mexico tariffs. In company news, Moderna led declines on the S&P 500, citing challenges from the latest tariff announcements. Meanwhile, gold surged to a record high, and oil rebounded from a four-week low. Looking ahead, Aussie shares are expected to open higher on Tuesday, with packaging giant Amcor set to release earnings. The Australian dollar also showed resilience, recovering from a five-year low.

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