Investors are preparing for a pivotal week marked by crucial economic indicators and high-profile earnings reports, even as global financial markets experience a shortened trading schedule due to Easter holidays in the United States and Europe.

Attention will center on fresh economic data from the manufacturing and services sectors, with S&P Global scheduled to release preliminary Purchasing Managers’ Indices (PMIs) for April on Wednesday. These indices, which reflect business activity based on orders, employment, and confidence, are seen as early indicators of economic trends. Readings above 50 suggest expansion, while those below indicate contraction.

Europe: Slowing Momentum Expected

In the eurozone, business activity showed signs of stabilizing in March, with the manufacturing PMI improving to 48.6—its best reading since early 2023. Germany and France both reported notable gains. However, geopolitical tensions and cautious spending continue to weigh on sentiment.

April forecasts suggest a modest pullback, with the eurozone manufacturing PMI expected to dip to 47.4. Germany and France are projected to post similar declines at 47.5 and 47.9, respectively. Meanwhile, services activity is expected to expand for a fifth consecutive month, though at a slower pace. The eurozone services PMI is forecast to ease to 50.4.

Germany’s Ifo Business Climate Index, due Thursday, will provide additional insight into Europe’s largest economy. The index rose to 86.7 in March, buoyed by major fiscal reforms, but is expected to edge lower amid uncertainty over new US tariffs.

UK Outlook: Manufacturing Under Pressure

In the UK, manufacturing remains a point of concern. March’s PMI fell to 44.9—its weakest in 17 months—and April is forecast to decline further to 44.0. The services sector fared better, with March’s revised PMI at 52.5, though April is projected to moderate to 51.4 as cost-of-living pressures and geopolitical risks weigh on sentiment.

US Forecasts Mixed Ahead of Earnings Season

In the United States, March data revealed a sharp drop in manufacturing PMI to 50.2, with expectations of a return to contraction in April at 49.3. Meanwhile, services activity remains robust, though the PMI is projected to dip from 54.4 to 52.9. Business confidence has also weakened, reflecting concerns over federal policy changes and trade tensions.

All Eyes on Big Tech

Adding to the week’s significance, major US tech firms—including Tesla, Microsoft, and Alphabet—are set to release first-quarter earnings. These results could be pivotal for markets, particularly amid growing concern over the impact of newly imposed US tariffs on global supply chains.

Tesla, in particular, faces scrutiny. While revenue is expected to grow 2.6% year-on-year, earnings per share are forecast to decline, partly due to factory retooling and a slowdown in demand, exacerbated by CEO Elon Musk’s recent political interventions.

As market participants digest a busy week of data and earnings, uncertainty surrounding trade policies and global economic conditions is expected to keep volatility elevated.

DHL Express, the international courier division of Germany’s Deutsche Post, announced it will temporarily suspend global business-to-consumer (B2C) shipments valued over $800 to individuals in the United States starting April 21. The move comes in response to new U.S. customs regulations that have extended clearance times for incoming goods.

According to a notice published on the company’s website, the suspension affects only shipments above the $800 threshold sent to private individuals. Business-to-business (B2B) shipments will continue but may experience delays due to the new processing requirements. Shipments under $800, whether destined for individuals or businesses, remain unaffected.

The change follows an April 5 update to U.S. customs rules, which now require formal entry processing for all imports valued over $800. Previously, this threshold stood at $2,500. DHL cited the revised policy as the reason for the temporary suspension, as the additional paperwork and procedural requirements have significantly slowed customs clearance.

“This is a temporary measure,” the company stated, without specifying when services might resume.

While the announcement was undated, online metadata indicates it was compiled on Saturday. The update marks a significant shift for international logistics companies that rely on streamlined processes to handle high-volume e-commerce shipments.

DHL’s decision comes amid rising trade tensions and shifting import policies in the United States, particularly concerning packages from China and Hong Kong. Last week, Hongkong Post suspended sea mail services to the U.S., accusing Washington of “bullying” after the United States revoked duty-free trade provisions for packages from the region.

In response to earlier inquiries from Reuters, DHL emphasized its commitment to compliance, saying it would continue processing shipments from Hong Kong “in accordance with the applicable customs rules and regulations.” The company also said it is working with customers to help them adapt to the upcoming changes, particularly those set to take effect on May 2.

Industry analysts say the new U.S. customs policy could have a wide-reaching impact on cross-border e-commerce, as formal entry requirements typically involve additional documentation, processing fees, and longer delivery times. Retailers and logistics firms alike are now reassessing their operations to minimize disruption for customers.

DHL has not provided a specific date for when high-value B2C shipments to the U.S. will resume but indicated that the pause is a precautionary response to the evolving regulatory environment.

The Trump administration on Thursday announced new fees targeting Chinese-built and Chinese-owned vessels docking at U.S. ports, escalating the ongoing trade war between Washington and Beijing. The move is aimed at countering China’s growing dominance in the global shipbuilding industry and protecting U.S. maritime interests.

The announcement, made by the Office of the United States Trade Representative (USTR), follows a year-long investigation launched under the Biden administration into China’s shipbuilding practices. USTR Ambassador Greer said the decision is designed to “begin to reverse Chinese dominance, address threats to the U.S. supply chain, and send a demand signal for U.S.-built ships.”

The new policy will introduce fees based on net tonnage per voyage for Chinese-built and owned vessels entering U.S. ports. This first phase is set to take effect in 180 days. A second phase, targeting foreign-owned liquefied natural gas (LNG) vessels built in China, will be implemented within three years.

The fees could reach as high as $1 million for each Chinese-built ship and $1.5 million for foreign-owned carriers with Chinese-built vessels in their fleets, according to findings from the USTR investigation. The move marks a significant shift in maritime trade policy, as the U.S. seeks to reduce its dependency on Chinese-made ships.

The USTR probe, launched in April 2024 under Section 301 of the 1974 Trade Act, was prompted by a petition from five national labor unions raising concerns over China’s increasing control over global shipping. The USTR concluded that China’s practices unfairly displaced foreign competitors and reduced global competition in maritime logistics.

China currently dominates the global shipbuilding market, with Chinese-built vessels accounting for 81% of the total market share in 2024. In the energy sector, China controls 48% of the liquefied petroleum gas (LPG) vessel market and 38% of the LNG sector, according to Veson Nautical.

In response to last year’s proposal, China’s Ministry of Commerce criticized the U.S. investigation as “a mistake on top of a mistake.” However, no official statement has been issued following the latest U.S. policy announcement.

Despite the new maritime fees, President Trump appeared to signal a pause in further tariff hikes. Speaking to reporters, he said, “At a certain point, I don’t want [tariffs] to go higher because… you make it where people don’t buy.” Trump indicated he may lower existing tariffs to avoid further disruption in trade flows.

Currently, the Trump administration has imposed tariffs of 145% on all Chinese imports, while China has retaliated with 125% tariffs on U.S. goods. In response, Beijing has hinted at shifting its countermeasures to the U.S. services sector, including legal consultancy, tourism, and education.

As tensions continue to rise, the shipping fee move represents a broader effort by Washington to reshape global trade and strengthen domestic manufacturing — though it risks inflaming economic ties with China even further.