Trump says US has reached a trade deal in China
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The dollar is mostly a little firmer against the G10 currencies, though the euro and Swiss franc are notable exceptions, but barely. Click to read.
Wall Street digested the progress on US-China trade negotiations and braced for the release of the May consumer inflation report.
The latest trade truce between China and the United States offered investors the hope of an eventual deal that the feuding superpowers can live with, though the possibility of another tariff flare-up remained a risk for markets.
Asian equities started the week on a strong note as Hong Kong and South Korea outperformed, while Australia was closed for the King’s Birthday and Indonesia and Pakistan were closed for Eid al-Adha.
The crypto market cap stood at $3.44 trillion as President Donald Trump claimed that the trade deal with China has been finalized, pending final approval from him and President Xi Jinping. The U.S. gets 55% tariffs, and China gets 10% tariffs, Trump added. He also said:
Big Chinese tech companies are pointedly asking for new, young recruits to have AI skills. Complicating the job market further is China's work-heavy culture. This report is from this week's CNBC's The China Connection newsletter,
US stocks edged higher on Tuesday as renewed US-China trade talks entered their second day after an upbeat initial meeting. Both the S&P 500 and Nasdaq are now within striking distance of their all-time closing highs — 6,
2don MSN
In addition to inflation and US-China trade, a key bond auction is on investors' radar. A $22 billion sale of 30-year bonds is scheduled for Thursday.
3hon MSN
Global shares are mostly trading higher after China and the U.S. said they have a framework for following up on the trade truce.
China is tapping an often overlooked pool of funds worth 10.9 trillion yuan ($1.5 trillion) to salvage its housing sector, offering people an alternative to bank mortgages.