US-China Trade Talks Boost Stock Futures 1%
1min read On May 10th and 11th, high-ranking officials from China and the US engaged in crucial discussions in Geneva, Switzerland, which resulted in significant progress in their trade relations. This development provided a much-needed boost to market sentiment, leading to a surge in US stock futures. The Dow, S&P 500, and Nasdaq futures all increased by over 1%, reflecting optimism among investors.
Concurrently, a landmark trade framework between the US and UK was announced on May 8th, aimed at reducing tariff barriers and enhancing market access. This agreement was hailed as a transformative step by President Trump. The positive news from both the US-China trade talks and the US-UK trade framework not only halted a three-week decline in major US stock indices but also propelled Bitcoin to surpass the $100,000 threshold, marking a 6% increase in just one day.
Despite the US Commerce Secretary indicating that the existing 10% benchmark tariff will remain in the short term, the recent US-UK agreement serves as a potential blueprint for future negotiations. Analysts highlight that while specific agreement details are still pending, the current climate of optimism regarding global economic recovery and reduced trade tensions suggests that risk assets are poised for continued strength in the near term.
Ask Aime: How do US-China trade talks affect the stock market?
In the midst of these developments, BiyaPay has emerged as a pioneering force in the crypto trading landscape. As the first multi-asset trading wallet, it seamlessly connects 30 fiat currencies with 200 digital currencies, facilitating instant exchanges. Users can conveniently engage with the US stock markets by converting USD to USDT at a 1:1 ratio, with zero fees applicable for digital currency spot and contract trades as a Maker.
