Global Markets Steady Awaiting US-China Trade Talks, Bitcoin Surges 6.7%

Global markets maintained a steady course as investors awaited the outcome of high-stakes trade talks between the United States and China. The anticipation of these discussions, coupled with the recent U.S.-U.K. tariff deal, kept traders on their toes, leading to a week of cautious trading.

Equity markets saw minimal movement, with MSCI’s all-country equity index inching up by 0.11% to 846.80, trimming a 0.3% weekly loss. European markets, including the STOXX 600 and Germany’s DAX, showed slight gains, while U.S. markets ended the week with negative tallies. The Dow Jones Industrial Average fell by 0.29%, the S&P 500 slipped by 0.07%, and the Nasdaq eked out a fractional gain.

The U.S. Dollar Index slipped by 0.28% to 100.37, despite preserving a weekly advance against major currencies. Benchmark 10-year Treasury yields crept up to 4.386%, while the 2-year note eased to 3.887%. The softening of the dollar and hopes for a thaw in trade tensions boosted commodities, with WTI crude settling at $61.02, Brent closing at $63.91, and spot gold firming to $3,327.53 per ounce.

In the digital asset space, Bitcoin surged to $103,224, marking its highest point since January and a fourth-straight daily advance. Ether rallied by 6.7% to $2,493. Traders cited lingering uncertainty in traditional assets and optimism about eventual rate cuts as drivers for the gains in digital assets.

All eyes are now on the upcoming Geneva summit between U.S. Treasury Secretary Scott Bessent and China’s Vice-Premier. While analysts doubt a breakthrough, even incremental signs of progress could set the tone for global risk assets and crypto markets into next week’s U.S. CPI release and the mid-May Federal Reserve minutes.