CNBC

Trump draft executive order would make sweeping changes to the U.S. State Department

• The draft executive order proposes the elimination of all “non-essential embassies and consulates in Sub-Saharan Africa” and the consolidation of regional bureaus around the world.
  It also calls for terminating offices and positions within the department focused on climate, women’s issues, democracy, human rights, migration and criminal justice.

Trump tariffs could lead to a summer drop-off in economic activity after an ‘artificially high’ start, Chicago Fed chief says

• “Preemptive purchasing” by businesses, as well as consumers, of big-ticket items at pre-tariff prices may cause an “artificially high” level of economic activity, the central banker said.

Trump tariffs push Asian trade partners to weigh investing in massive Alaska energy project

• President Donald Trump’s tariffs are pushing Japan, South Korea and Taiwan to consider investing in a massive natural gas project in Alaska.
• Alaska LNG would build an 800-mile pipeline, gas processing plant and LNG facility at a cost of more than $40 billion.
• Treasury Secretary Scott Bessent said the countries are considering financing the project and buying large amounts of gas.

AP

Zelenskyy says Russia is trying to create an ‘impression of a ceasefire’ as attacks continue

• Despite Putin’s declaration of an Easter ceasefire on Saturday, Zelenskyy said Ukrainian forces had recorded 59 instances of Russian shelling and five assaults by units across various areas along the front line, as well as “dozens” of drone strikes.

Reuters

Pope Francis makes brief Easter appearance, calls for Gaza ceasefire

• He is still recovering from pneumonia

Two dead in Oklahoma as severe weather hits US South and Midwest

• Tornado, storm, flood

Yahoo Finance

Tesla, Alphabet highlight earnings rush as tariff fallout drives markets: What to know this week

• Results from Alphabet (GOOGL, GOOG), Tesla (TSLA), Chipotle (CMG), Boeing (BA), and Verizon (VZ) are set to lead a week in which quarterly reports from more than 120 S&P 500 companies are expected for release.

Trump tariffs live updates: Beauty brands, Chinatown neighborhood markets in the US, and gaming companies brace for impact

• On Thursday, Trump struck an optimistic tone about negotiations with China, telling a reporter “we are going to make a very good deal with China.” Later in the day, the president again touted talks with the country, adding that he is reluctant to keep raising tariffs on China and may even want them to be lower to protect consumer spending.

Americans are expecting a tariff-fueled price surge. A new Fed survey says they’re right.

• “firms planned to pass along the expected tariff-induced changes in unit costs to their customers through price increases; the extent of this cost pass-through would vary under different tariff scenarios.”