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Oil prices jump about 4% on US-China tariff reductions
US and China agree to 90-day on pause on tariffsDeal raises hopes of an end to trade warOil extends gains after 4% rise last weekBy Robert Harvey LONDON, May 12 (Reuters) - Oil prices jumped by about 4% on Monday after the U.S. and China said they would ease some of their tariff measures, raising...Reuters
2 hours ago
US STOCKS-Wall St set to surge at open as US, China slash tariffs
May 12 (Reuters) - Wall Street's main indexes were set to open sharply higher on Monday as the United States and China reached a deal to reduce tariffs, signaling a truce in a punishing trade war that had kept markets on edge for weeks.Reuters
3 hours ago
US customers should get Chinese rare earth permits more easily after trade truce, say sources
BEIJING, May 12 (Reuters) - Rare earth export permits for U.S. customers are likely to have an easier time getting approval from Beijing after Monday's trade war truce, however a complete removal of the restrictions is unlikely, according to two sources in the industry in China.Reuters
3 hours ago
US Dollar soars to one-month high on US-China deal to temporarily lower tariffs
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, jumps more than 1% on Monday after China and the United States (US) agreed to a 90-day pause in their trade war by slashing tariffs on both sides.Fxstreet
4 hours ago
Nissan to cut over 10,000 more jobs, NHK reports
TOKYO, May 12 (Reuters) - Nissan Motor 7201.T will cut more than 10,000 jobs globally, bringing the number of layoffs, including those previously announced, to about 20,000 or 15% of its workforce, Japan's public broadcaster NHK reported on Monday.Japan's third-biggest automaker is striving ...Reuters
5 hours ago
China’s Ace, America’s Achilles’ Heel: Is Rare Earth the Key to the U.S.-China Tariff Cut?
TradingKey – The first round of U.S.-China economic and trade talks concluded with both sides agreeing to significantly cut tariffs — a move officially justified by the importance of bilateral trade relations for both nations and the global economy. However, behind the scenes, strategic industries..TradingKey
5 hours ago
Stocks surge, dollar rallies as US and China pledge to slash tariffs
LONDON, May 12 (Reuters) - Wall Street stock futures surged, the dollar rallied and gold prices slumped on Monday as U.S. and Chinese officials pledged to slash reciprocal tariffs in a move that swept trade war fears out of global markets, at least for now.
Reuters
6 hours ago
Cryptocurrencies Did Not Rally After the U.S.-China Trade Deal. Is the Tariff Agreement Bullish or Bearish?
TradingKey – Following the conclusion of U.S.-China tariff negotiations, both countries jointly announced on May 12 a temporary 90-day reduction in tariffs, with cuts far exceeding market expectations. While risk assets such as U.S. equity futures and oil prices surged in response, Bitcoin (BTC)...
Eli Lilly's Zepbound outperforms Novo Nordisk's Wegovy for weight loss in trial
May 12 (Reuters) - Eli Lilly LLY.N said on Sunday its drug Zepbound was superior to Novo Nordisk's NOVOb.CO Wegovy across five weight-loss targets such as reducing waist circumference, citing data from a head-to-head trial.
Reuters
6 hours ago
U.S.-China Tariff Deal Exceeds Expectations, Risk Assets Rally in Major Reversal! Nasdaq Futures Up 3%, Hong Kong Stocks Jump 6%, Oil Rises 3%, Gold..
TradingKey – Following high-level economic and trade talks, both China and the United States announced "substantial progress" in their negotiations. According to a joint statement released on May 12, China will cut its tariffs on U.S. goods from 125% to 10%, while the U.S. will reduce tariffs on...
TradingKey
7 hours ago
Crude Oil Market Imbalance: Weak Q1 Results from “King of Oil” Aramco May Be Just the Beginning
TradingKey – Before U.S. President Donald Trump’s official visit to Saudi Arabia, Saudi Aramco — the kingdom’s cash cow and the world’s largest oil producer — released its first-quarter 2025 earnings report. Affected by persistently weak global oil prices, Saudi Aramco’s profits fell by 4.6%...TradingKey
7 hours ago
US and China reach deal to slash tariffs, officials say
GENEVA, May 12 (Reuters) - The United States and China said on Monday they have agreed a deal to slash reciprocal tariffs as Washington and Beijing seek to end a trade war that has disrupted the global economy and set financial markets on edge.Reuters
8 hours ago
U.S.-China Tariff Talks Bring Positive News, Could Chinese Yuan Return to the "6" Level?
TradingKey - Following two days of high-level talks over the weekend, U.S.-China trade negotiations have achieved "substantial progress," easing global trade tensions sparked by the tariff war under the Trump 2.0 administration. Goldman Sachs forecasts that the Chinese yuan could appreciate...TradingKey
9 hours ago
Bund yields hit fresh one-month high as trade talks ease economic concerns
May 12 (Reuters) - Euro area benchmark Bund yields hit a fresh one-month high and markets cut bets on European Central Bank interest rate cuts on Monday as less severe trade and geopolitical tensions eased concerns about economic growth.Reuters
9 hours ago
Bitcoin awaits catalyst to push BTC above $109,000, US-UK and China deals fails to trigger rally
The United States unveiled its first major trade deal with the UK last week. The announcement was followed by talks of a highly anticipated deal with China. Both developments failed to catalyze a re-test of the all-time high in Bitcoin.Fxstreet
9 hours ago
Japan's Ishiba signals increasing corn imports as part of US trade talks
TOKYO, May 12 (Reuters) - Japanese Prime Minister Shigeru Ishiba on Monday signalled that increasing corn imports from the U.S. would be among options in trade negotiations with Washington.Speaking in parliament, Ishiba repeated that Japan won't sacrifice the domestic agriculture industry for th...Reuters
10 hours ago
Japan's Nikkei rises on US-China trade deal hopes
TOKYO, May 12 (Reuters) - Japan's Nikkei share average rose on Monday as indications of progress in U.S.-China trade talks boosted hopes of a deal between the major economies.As of 0202 GMT, the Nikkei .N225 was up 0.2% at 37,573.27. The broader Topix .TOPX edged 0.02% higher at 2,734.09."I...Reuters
13 hours ago
Gold falls as 'positive' US-China talks erode safe-haven appeal
May 12 (Reuters) - Gold prices slipped on Monday as U.S.-China trade talks ended on a positive note, easing investor anxiety and denting demand for the safe-haven asset.FUNDAMENTALS* Spot gold XAU= fell 1.1% to $3,286.86 an ounce as of 0014 GMT. U.S. gold futures GCcv1 lost 1.6% to $3,291.60.* The UReuters
15 hours ago
Fed’s Hammack wants clear data before moving on rates, not much data by June
PALO ALTO, California, May 9 (Reuters) - The Federal Reserve needs more time to see how the economy responds to U.S. President Donald Trump's tariff and other policies before figuring out the right response, Cleveland Fed President Beth Hammack said on Friday, noting that much of the administration'Reuters
15 hours ago
US, China hail 'constructive' Geneva trade talks, details due Monday
GENEVA, May 11 (Reuters) - The U.S. and China ended high-stakes trade talks on a positive note on Sunday, with U.S. officials touting a "deal" to reduce the U.S. trade deficit, while Chinese officials said the sides had reached "important consensus" and agreed to launch another new economic dialogueReuters
15 hours ago