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U.S. stock futures jumped Sunday night after the Trump administration
announced a �trade deal� with China following negotiations over the
weekend in Switzerland.
Dow Jones Industrial Average futures
rallied 408 points, or 1%. S&P 500
and Nasdaq-100 futures
climbed 1.1% and 1.3%, respectively.
Without providing specifics, Treasury Secretary Scott Bessent said two
days of trade talks with Chinese officials in Geneva were �productive� and yielded �a great deal� of productivity. Bessent said details would be
provided in a briefing Monday morning.
�This is a huge positive in the right direction for the markets,� Dan
Ives, Wedbush Securities global head of technology research, said in a
note to clients. �We would characterize this weekend so far as a best case scenario that shows the framework for a bigger US/China deal is now on the table.�
Tensions between China and the U.S. soared after President Donald Trump
last month unveiled 145% tariffs on imported goods from China. Beijing
then retaliated with 125% duties of its own targeting U.S. goods.
Commerce Secretary Howard Lutnick said Sunday that the 10% baseline tariff
rate on imports from other countries is likely to �be in place for the foreseeable future,� echoing Trump�s comments from days prior.
All three major averages are coming off their first losing week in three.
The S&P 500 and Nasdaq Composite shed 0.5% and 0.3%, respectively. The Dow slipped 0.2% last week.
Investors this week will look for signs on how the rising trade tensions
are impacting the economy. The consumer price index reading for April is
due Tuesday morning, while retail sales and the producer price index �
another inflation measure � are set for release on Thursday.
https://www.cnbc.com/2025/05/11/stock-market-today-live-updates.html
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