Dollar General Corp. surged after increasing its annual guidance, helped by luring more higher-income shoppers looking for deals. The discount chain also said it expects to mitigate a significant amount of the tariffs currently in place.

The discount retailer raised its outlook after assessing the impact of tariffs on its business and consumer behavior, and posted better-than-expected first-quarter results.

The OECD’s gloomy assessment comes after the dollar slid towards a three-year low yesterday and US government bonds came under pressure, as weak manufacturing data and growing warnings over the sustainability of the country’s debt pile unnerved investors. Futures trading is pointing to a lower open on Wall Street this morning.

President Donald Trump is hiking tariffs on aluminum and steel as his administration presses countries to speed up trade talks, amid legal battles.

Global economic growth is expected to take a hit, in part as a result of President Donald Trump’s tariffs, if major nations remain mired in unresolved trade disputes, the Organization for Economic Cooperation and Development said in a report released Tuesday.