Investors Brace for Volatility Ahead Despite Positive Jobs Growth

Warren Buffett warns that the US economy is facing an inventory build-up as consumers are no longer splurging, which could lead to lower earnings for Berkshire Hathaway this year. Meanwhile, China's April exports grew 8.5% in US dollar terms, beating the 8% forecast, but imports fell 7.9% YoY. Banking fears persist amid high interest rates, with the Federal Reserve's most recent Financial Stability Report identifying banking-sector stress as a major economic fear. Additionally, concerns about persistent inflation and tighter monetary policy persist, while the specter of the US defaulting on its debt looms as Congress meets to discuss the issue.