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SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6857.13
6857.13
6857.13
6865.94
6827.13
+7.41
+ 0.11%
--
DJI
Dow Jones Industrial Average
47850.93
47850.93
47850.93
48049.72
47692.96
-31.96
-0.07%
--
IXIC
NASDAQ Composite Index
23505.13
23505.13
23505.13
23528.53
23372.33
+51.04
+ 0.22%
--
USDX
US Dollar Index
98.920
99.000
98.920
99.000
98.740
-0.060
-0.06%
--
EURUSD
Euro / US Dollar
1.16506
1.16514
1.16506
1.16715
1.16408
+0.00061
+ 0.05%
--
GBPUSD
Pound Sterling / US Dollar
1.33447
1.33457
1.33447
1.33622
1.33165
+0.00176
+ 0.13%
--
XAUUSD
Gold / US Dollar
4227.77
4228.18
4227.77
4230.62
4194.54
+20.60
+ 0.49%
--
WTI
Light Sweet Crude Oil
59.256
59.286
59.256
59.543
59.187
-0.127
-0.21%
--

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Lebanon Says Ceasefire Talks Aim Mainly At Halting Israel's Hostilities

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Ukraine's Military Says It Hit Russian Port In Krasnodar Region

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Jumped The Gun, Says Morgan Stanley, Reverses Dec Fed Rate Call To 25Bps Cut

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Lebanese President Aoun:Lebanon Welcomes Any Country Keeping Its Forces In South Lebanon To Help Army After End Of Unifil's Mission

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China Cabinet Meeting: Will Firmly Prevent Major Fire Incidents

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China Cabinet Meeting: China To Crack Down On Abuse Of Power In Enterprise-Related Law Enforcement

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          How India And Pakistan Pulled Back From The Brink With U.S.-brokered Ceasefire

          Glendon

          India–Palestine conflict

          Summary:

          At 2.09 am on Saturday, Ahmad Subhan, who lives near an air base in the Pakistan military garrison city of Rawalpindi, heard the first explosion that rattled the windows of his house - and took South Asia to the brink of war.

          At 2.09 am on Saturday, Ahmad Subhan, who lives near an air base in the Pakistan military garrison city of Rawalpindi, heard the first explosion that rattled the windows of his house - and took South Asia to the brink of war.

          As dawn broke, the heaviest fighting in decades between nuclear-armed India and Pakistan reached a crescendo, after nearly three weeks of escalating tensions.

          Fighter jets and missiles crisscrossed the skies of one of the world's most populated regions. Pakistani officials said they would convene an emergency meeting of their top nuclear decision-making body.

          The critical eight-hour window also saw Indian missile barrages on three major Pakistan air bases and other facilities, including Nur Khan, which is ringed by civilian homes like Subhan's, and just a 20-minute drive to the capital, Islamabad.

          After the initial blast, Subhan and his wife grabbed their three children and ran out of their home. "We were just figuring out what had happened when there was another explosion," said the retired government employee, who remembered the precise time of the strike because he was just about to make a call.

          This account of Saturday's events - which began with the looming specter of a full-blown war and ended with an evening cease-fire announcement by U.S. President Donald Trump - is based on interviews with 14 people, including U.S., Indian and Pakistani officials, as well as Reuters' review of public statements from the three capitals.

          They described the rapid escalation of hostilities as well as behind-the-scenes diplomacy involving the U.S., India and Pakistan, and underscore the key role played by Washington in brokering peace.

          The attack on Nur Khan air base saw at least two missile strikes as well as drone attacks, according to Subhan and two Pakistani security officials, who like some of the people interviewed by Reuters, spoke on condition of anonymity.

          The barrage took out two roofs and hit the hangar of a refuelling plane, which was airborne at the time, according to one of the officials, who visited the base the next day.

          A senior Indian military officer, however, told reporters on Sunday that an operation command center at Nur Khan had been hit.

          "The attack on Nur Khan... close to our capital, that left us with no option but to retaliate," Pakistan Foreign Minister Ishaq Dar told Reuters.

          Nur Khan is located just over a mile from the military-run body responsible for Pakistan's nuclear planning.

          So, an attack on the facility may have been perceived as more dangerous than India intended - and the two sides shouldn't conclude that it is possible to have a conflict without it going nuclear, said Christopher Clary, an associate professor at the University at Albany in New York.

          "If you are playing Russian roulette and pull the trigger, the lesson isn't that you should pull the trigger again," said Clary.

          India's defense and foreign ministries, as well as Pakistan's military and its foreign ministry, did not immediately answer written questions submitted by Reuters.

          A U.S. State Department spokesperson did not directly respond to questions from Reuters about the American role, but said that further military escalation posed a serious threat to regional stability.

          In the early hours of May 10, Indian missiles hit Pakistan's Nur Khan air base in Rawalpindi, where the headquarters of the nuclear-armed country's military is located.

          VANCE CALLS MODI

          India and Pakistan have fought three major wars and been at loggerheads since their independence. The spark for the latest chaos was an April 22 attack in Indian Kashmir that killed 26 people, most of them tourists. New Delhi blamed the incident on "terrorists" backed by Pakistan, a charge denied by Islamabad.

          It was the latest of many disputes involving Kashmir, a Himalayan territory ravaged by an anti-India insurgency since the late 1980s. Both New Delhi and Islamabad claim the region in full but only control parts of it.

          Hindu-majority India has accused its Muslim-majority neighbor of arming and backing militant groups operating in Kashmir, but Pakistan maintains it only provides diplomatic support to Kashmiri separatists.

          After a go-ahead from Prime Minister Narendra Modi, the Indian military on May 7 carried out air strikes on what it called "terrorist infrastructure" in Pakistan, in response to the April attack in Kashmir.

          In air battles that followed, Pakistan said it shot down five Indian aircraft, including prized Rafale planes New Delhi recently acquired from France. India has indicated that it suffered losses and inflicted some of its own.

          Senior U.S. officials became seriously concerned by Friday, May 9 that the conflict was at risk of spiralling out of control, according to two sources familiar with the matter.

          That evening, Modi took a call from Vice President J.D. Vance, who presented a potential off-ramp to the Indian prime minister that he described as a path the Pakistanis would also be amenable to, the people said.

          Vance's intervention came despite him saying publicly on Thursday that the U.S. was "not going to get involved in the middle of war that's fundamentally none of our business."

          The sources didn't provide specifics but said that Modi was non-committal. One of the people also said that Modi told Vance, who had been visiting India during the Kashmir attack, that any Pakistani escalation would be met by an even more forceful response.

          Hours later, according to Indian officials, that escalation came: Pakistan launched attacks on at least 26 locations in India in the early hours of May 10.

          Pakistan said their strikes occurred only after the pre-dawn Indian attack on its air bases, including Nur Khan.

          NUCLEAR SIGNALS

          A little over an hour after that Indian attack began, Pakistan military spokesman Lt. Gen. Ahmed Sharif Chaudhry confirmed Indian strikes on three air bases.

          Some Indian strikes on Saturday, May 10 also utilized the supersonic BrahMos missile, according to a Pakistani official and an Indian source. Pakistan believes the BrahMos is nuclear-capable, though India says it carries a conventional warhead.

          By 5 a.m. local time on Saturday, Pakistan's military announced it had launched operations against Indian air bases and other facilities.

          About two hours later, Pakistani officials told journalists that Prime Minister Shehbaz Sharif had called a meeting of the National Command Authority, which oversees the nuclear arsenal.

          Dar told Reuters on Tuesday that any international alarm was overblown: "There was no such concern. There should not be. We are a responsible nation."

          But signalling an intention to convene NCA reflected how much the crisis had escalated and "may also have been an indirect call for external mediation," said Michael Kugelman, a Washington-based South Asia expert.

          About an hour after the NCA announcement, the U.S. said Secretary of State Marco Rubio had spoken to Pakistan Army Chief Gen. Asim Munir - widely regarded as the most powerful man in that country - and was pushing both sides to de-escalate.

          Rubio also soon got on the phone with Dar and Indian Foreign Minister S. Jaishankar.

          "Rubio said that Indians were ready to stop," Dar told Reuters. "I said if they are ready to stop, ask them to stop, we will stop."

          An Indian official with knowledge of Rubio's call with Jaishankar said that Rubio passed on a message that the Pakistanis were willing to stop firing if India would also cease.

          'GREAT INTELLIGENCE'

          Pakistan Defense Minister Khawaja Muhammad Asif, who only days earlier warned of conflict, dialled into a local TV news channel at around 10:30 am on Saturday.

          Two-and-a-half hours after Pakistani officials shared news of the NCA meeting, Asif declared that no such event had been scheduled, putting a lid on the matter.

          The international intervention anchored by Rubio paved the way to a cessation of hostilities formalized in a mid-afternoon phone call between the Directors General of Military Operations (DGMO) of India and Pakistan. The two spoke again on Monday.

          Pakistan Lt. Gen. Chaudhry said in a briefing that New Delhi had initially requested a call between the DGMOs after the Indian military's May 7 strikes across the border.

          Islamabad only responded to the request on Saturday, following its retaliation and requests from international interlocutors, according to Chaudhry, who did not name the countries.

          Almost exactly 12 hours after Pakistan said it had launched retaliatory strikes against India for hitting three key air bases, Trump declared on social media there would be a cessation of hostilities.

          "Congratulations to both Countries on using Common Sense and Great Intelligence," he said.

          Source: Reuters

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
          Share

          US Treasuries Gain as Traders Eye Inflation for Clues on Fed

          Adam

          Bond

          Central Bank

          Treasuries gained ahead of the release of US inflation data, paring sharp losses sparked by the temporary US-China trade truce that’s dimmed the odds of a global recession.
          With market-implied expectations for Federal Reserve interest-rate cuts receding and a multi-trillion-dollar tax package seen likely to worsen the US government budget deficit, focus is now on Tuesday’s inflation data for any signs of a pickup in price pressures. The report will be the first to show tariff-related costs.
          The yield on policy-sensitive two-year bonds fell nearly three basis points to 3.98% on Tuesday, outperforming European peers. The rate surged 12 basis points on Monday after the world’s biggest economies agreed to temporarily cut tariffs, dimming the odds of a recession and fueling a rally in risk assets.
          “The ‘trade-relief rally’ has started to stall overnight,” said Evelyne Gomez-Liechti, a strategist at Mizuho International. The moves reflect “profit-taking and consolidation ahead of today’s CPI report. We think there’s room for more.”
          Economists forecast the annual pace of consumer price growth held the same as the month prior, according to estimates compiled by Bloomberg. Core inflation is expected to remain at a 2.8% level.
          Traders have lowered their expectations for Federal Reserve interest-rate cuts this year amid easing trade tensions, and swaps now favor a quarter-point cut by September and another to follow by year-end. At the end of last month, markets were betting on a first move by July, and a total of four cuts this year.
          Goldman Sachs said Monday that it now expects three quarter-point rate Fed cuts starting in December instead of July, with just a 35% probability of a recession versus 45% previously. Citigroup economists also pushed back their prediction for the Fed’s next rate cut to July from June after tempering of US-China tariffs.
          Barclays now expects the Federal Reserve to deliver just one interest-rate cut this year compared to two previously.
          “If you have to put a gun to my head and say what’s the most likely single view it probably would be that the Fed maintains rates on hold this year because inflation stays pretty elevated,” said Mark Dowding, chief investment officer of BlueBay Fixed Income.
          Fed Governor Adriana Kugler said even with the 90-day levy reduction on Chinese goods, President Donald Trump’s tariff policies risk sparking a rise in inflation and unemployment.
          Bloomberg Economics estimates the new tariff levels will translate into a 1.5% hit to US GDP and 0.9% boost to core PCE over a period of two to three years, about half the shock predicted before the US-China talks.
          Since the end of April, US government bonds have slumped, pushing yields across all maturities higher. Benchmark 10-year yields trade at 4.45%, well above the lows of this month of 4.12%. Policy sensitive two-year yields have risen nearly 40 basis points.
          Dowding said he is looking to buy 10-year Treasuries if yields move back to 4.8% — around the peak level of 2025 reached in mid-January — and sell them if rates fall below 4.2%.
          Tax Bill
          Despite the administration touting they can extend Trump’s 2017 tax cuts without worsening the US deficit, market participants are less clear that will pan out. The plan announced Monday will take a big step toward advancing through the House as soon as this week, with the House Ways and Means Committee scheduled to begin debate on it Tuesday.
          Economists at Deutsche Bank in a note earlier this month said the final package will likely keep the US deficit-to-GDP level stuck near 6.5% for the next few years.
          “If you look at what’s coming down the road out of Washington, the administration is talking about Independence Day for the tax package,” said Gregory Faranello, head of US rates trading and strategy for AmeriVet Securities. “So the Fed is going to wait that out,” as well as move slowly to monitor economic data.
          Faranello also sees rising Treasury yields as providing good opportunities to purchase more debt as he expects the labor market to crack and the Fed cutting rates sometime in the second half of the year.

          Source: finance.yahoo

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
          Share

          History Rhymes? XRP Price Gained 400% the Last Time Whale Flows Flipped

          Warren Takunda

          Cryptocurrency

          Key takeaways:
          XRP price has risen 55% since April and is now flashing bullish continuation signals.
          Whale flows have flipped positive for the first time since November 2024, historically signaling trend reversals.
          A falling wedge breakout projects 40% gains ahead, but $2.80 may act as interim resistance.
          XRP has bounced by more than 55% since forming a local bottom at around $1.61 in April. It now signals a further price surge owing to bullish technical patterns and onchain data.History Rhymes? XRP Price Gained 400% the Last Time Whale Flows Flipped_1

          XRP/USD daily price chart. Source: TradingView

          XRP’s whale flows mirror 2024 price boom

          XRP whale wallets (addresses holding large amounts of XRP) have been aggressively reducing their holdings since November 2024, according to data resource CryptoQuant.History Rhymes? XRP Price Gained 400% the Last Time Whale Flows Flipped_2

          XRP whale flow 30-day moving average vs. price. Source: CryptoQuant

          The trend pushed net flows deep into negative territory, preceding the sharp correction in XRP’s price from above $3.55 to under $2.00.
          As of mid-May 2025, however, the trend has reversed.
          Whale outflows have been slowing down, turning the 90-day moving average of net flows positive. In the past, most instances where whale flows turned positive after a prolonged negative trend has marked major bottoms or trend reversals.
          A notable example is XRP’s rally from around $0.43 in July 2024 to $3.55 in January 2025, or around 400% gains, which began as whale outflows slowed and eventually flipped to net inflows.

          XRP price technical breakout targets $3.45

          XRP price technicals show it breaking out of a multimonth falling wedge pattern on the 3-day chart, typically viewed as a bullish reversal setup.
          The wedge, formed between December 2024 and early May 2025, had been compressing price action while volume declined, a classic sign of accumulation.History Rhymes? XRP Price Gained 400% the Last Time Whale Flows Flipped_3

          XRP/USD three-day price chart. Source: TradingView

          The breakout occurred in early May near the $2.25 level, just above the 50-period exponential moving average (EMA), which now acts as key support. Based on the wedge’s height, the breakout projects a price target near $3.45, around 40% above current levels.
          XRP’s relative strength index (RSI) also supports the bullish case, bouncing back above 57 and showing renewed buying momentum.
          The move may not be a straight shot to the target, however. Analyst Mags highlights a key resistance near $2.80 that could temporarily cap XRP’s upside.History Rhymes? XRP Price Gained 400% the Last Time Whale Flows Flipped_4

          Source: X/Mags

          In the near term, XRP may consolidate above its 50-day EMA, particularly as whale inflows often signal the start of an accumulation phase before a stronger price breakout.
          “The pace of outflows is slowing, and the bars are curling upward,” wrote Kripto Mavsimi, an analyst associated with CryptoQuant, adding:
          “It’s not full reversal yet — but it’s the first real sign of stabilization in months.”
          Such a base-building period would be a healthy development if consistent with how previous whale-driven rallies have unfolded.

          Source: Cointelegraph

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
          Add to Favorites
          Share

          Stocks edge up, dollar eases as trade-deal sugar rush fades

          Adam

          Stocks

          Forex

          China–U.S. Trade War

          A rally in global stocks and the dollar lost some momentum on Tuesday, as initial euphoria over a trade truce between the United States and China gave way to investors' persistent concerns about the standoff's impact on the global economy.
          The world's two largest economies have initiated a 90-day pause in their trade war, bringing down reciprocal tariffs and removing other measures while they negotiate a more permanent arrangement.
          The agreement has reignited investor appetite for stocks, cryptocurrencies and commodities, unleashing a 3.3% rally on Wall Street on Monday.
          By Tuesday, some of that enthusiasm had ebbed, leaving European stocks up 0.2% (.STOXX) , opens new tab by midday in the region, boosted by upbeat corporate results from the likes of German pharma group Bayer and Danish wind turbine maker Vestas (VWS.CO) , opens new tab, which both jumped 10%.
          Futures on the S&P 500 and Nasdaq fell 0.2-0.3%, underscoring the caution towards U.S. assets.
          "It's the pause that refreshes and makes you feel better. You just hope that there is more to come. It does show you that this administration is not immune to market volatility. It does have a breaking point," IG chief market strategist Chris Beauchamp said.
          Following the Geneva talks, the U.S. said it will cut tariffs imposed on Chinese imports to 30% from 145% while China said it would cut duties on U.S. imports to 10% from 125%.
          Ratings agency Fitch estimates the U.S. effective tariff rate is now 13.1%, a notable decline from 22.8% prior to the agreement but still at levels unseen since 1941 and above the 2.3% that prevailed at the end of 2024.
          The U.S. government went one step further on Tuesday, announcing it will cut the "de minimis" tariff on Chinese shipments of items valued at up to $800.
          The broader markets offered little reaction to this latest U.S. concession. Shares in Amazon (AMZN.O), opens new tab eased 0.4% in premarket trading, following Monday's 8% rally.

          FAREWELL 'CRAZY US EXCEPTIONALISM'?

          Trump's unpredictable approach to the economy, trade and international diplomacy have fanned concern about the outlook for U.S. growth. Together with a lack of progress in hashing out deals with trade partners, these factors have driven investors out of U.S. assets for weeks, to the benefit of safe-havens like gold, the Japanese yen and Swiss franc.
          Economists, fund managers and analysts have said that while the 90-day pause is welcome, it has not changed the bigger picture.
          "When all is said and done, tariffs will still be dramatically higher and will weigh on U.S. growth," Christopher Hodge, chief U.S. economist at Natixis, said.
          The dollar surged against a basket of currencies on Monday by the most in a day since April 22. On Tuesday, some of that had faded, leaving most other major currencies stronger across the board.
          The euro was up 0.18% at $1.1109, while the yen strengthened, leaving the dollar down 0.3% at 148.04, and the pound rose 0.2% to $1.3206.
          "You still get that sense from people generally that for the moment, we will be putting more money back to work in the U.S., but we won't be going back to this crazy 'U.S. exceptionalism trade' of December of just whatever you do, it has to be in the U.S. We've got to be a bit more circumspect now," IG's Beauchamp said.
          For now, investors will focus on U.S. inflation data on Tuesday.
          The shift in U.S.-China trade relations has led traders to reduce their expectations for Federal Reserve rate cuts, as they believe policymakers may have more leeway if the risks to inflation abate.
          Traders are now pricing in 56 basis points of cuts this year, down from forecasts for over 100 basis points during the height of tariff-induced anxiety in mid-April.
          U.S. Treasury yields were around one-month highs, with the benchmark 10-year yield <US10YT=RR> flat at 4.455%.
          Oil rose on Tuesday, up 0.8% at $65.48 a barrel, having risen 1.2% on Monday to a two-week high above $66 a barrel. Gold edged up 0.6% to $3,254 an ounce, having fallen 2% on Monday as investors ditched some safe havens.

          Source: reuters

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          EURUSD Rebounds, But Key Levels Loom Ahead

          Michelle

          Technical Analysis

          EURUSD technicals

          The EURUSD is seeing a modest rebound today after sharp declines yesterday, driven in part by a stronger USD following news of US-China tariff reductions (set for a 90-day period at least). The move lower on Monday found buyers just ahead of the 38.2% retracement of the January–April rally at 1.10395 — a level that remains a critical support line.

          A break below that 38.2% level would signal a deeper corrective move is underway, shifting the bias further to the downside.

          The pair is moving higher helped by the CPI data which was more modest than expectations (0.2% vs 0.3% for the headline and the core measures). There has been a modest move higher with the pair trading to a new high at 1.11349.

          On the topside technically, the pair now eyes the April 3 swing high at 1.11452. A sustained move above this level would tilt the bias more bullish and target the next resistance zone, which includes:

          • The 200-bar MA (4H) currently near 1.1200

          • A swing area up to 1.1213

          For now, the bounce is corrective, but traders will be watching whether the pair can push through key resistance or fall back toward the retracement level to confirm trend direction.

          Technical Summary:

          • Support: 1.10395 (38.2% retracement)

          • Resistance: 1.11452 (Apr 3 swing), 1.1200–1.1213 (MA/swing zone and the 200 bar MA on the 4-hour chart)

          • Bias: Neutral near-term; bearish below 1.10395, more bullish above 1.11452

          Source: ForexLive

          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          5 things to know before the stock market opens Tuesday

          Adam

          Stocks

          Economic

          China–U.S. Trade War

          CPI watch

          Investors’ fears of a trade war — and a resulting recession — calmed on Monday after the U.S. and China agreed to drastically lower tariffs on each other’s imports for 90 days. The Dow Jones Industrial Average closed up 1,160.72 points, or 2.81%, while the S&P 500 gained 3.26% and the Nasdaq Composite climbed 4.35%. Stock futures were lower before the bell Tuesday as traders braced for April’s consumer price index report, due out at 8:30 a.m. ET. CPI is expected to remain at a 2.4% rate for the month on a year-over-year basis, according to the Dow Jones consensus. Follow live market updates.

          Cure-all?

          President Donald Trump on Monday signed an executive order aiming to lower the cost of some prescription drugs by tying their prices to significantly lower ones abroad. The effort, known as the “most favored nation” policy, directs Trump’s trade and commerce officials to crack down on “unreasonable and discriminatory policies” in foreign countries. It also instructs the HHS secretary to establish a way for U.S. patients to bypass middlemen and buy drugs straight from manufacturers. But experts say it is unclear by how much the plan would reduce drug prices, which drugs it will affect, and whether it can be implemented at all. “The road ahead could be muddy,” JPMorgan analysts wrote in a note.

          Victory lap

          The U.S. and China appear to have avoided an all-out trade war, at least for now, and both countries are declaring victory. Trump on Monday said China “agreed to open up” and suspend its trade barriers as part of the temporary tariff reduction deal, while Beijing cast the agreement as a vindication of its negotiating strategy. “China’s firm countermeasures and resolute stance have been highly effective,” one social media account linked to China’s national broadcaster posted. Meanwhile, the Treasury Department reported a record $16.3 billion in customs duties in April as revenue from Trump’s tariffs began to flow in. That’s 86% more than the $8.75 billion collected in March and more than double the $7.1 billion in April 2024.

          New home base

          The S&P 500 just announced its newest member. Coinbase will join the benchmark index before trading on May 19, S&P Dow Jones Indices said Monday, causing shares of the cryptocurrency exchange to jump nearly 11% in extended trading. The move comes just days after Bitcoin jumped back above $100,000 for the first time since February. Since going public via a direct listing in 2021, Coinbase has been a volatile stock. It currently trades far below its 2021 peak and has underperformed Bitcoin so far this year, dropping 17% while the cryptocurrency is up 10%. Coinbase will replace Discover Financial Services, which is in the process of being acquired by Capital One Financial.

          Stepping down

          Shares of UnitedHealth Group dropped more than 10% before the bell Tuesday after the insurer suspended its 2025 guidance and announced that CEO Andrew Witty is stepping down for personal reasons. Stephen Hemsley, who previously served as UnitedHealth’s CEO from 2006 to 2017, will take Witty’s place, effective immediately. The company cited higher-than-expected medical costs as a reason for suspending its guidance. The announcement comes weeks after UnitedHealth reported its first quarterly earnings miss since 2008 and slashed its annual profit forecast.

          Source: cnbc

          To stay updated on all economic events of today, please check out our Economic calendar
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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          UBS Cuts U.S. Stocks View After 11% Rally on Fading Trade Fears

          Glendon

          Economic

          Stocks

          UBS downgraded U.S. equities to Neutral from Attractive following an 11% rally in the S&P 500 since early April.

          The bank pointed to reduced upside after progress on U.S.-China trade talks drove market gains.

          “We downgrade U.S. equities to Neutral from Attractive,” UBS said, noting that “risk-reward in equities is now more balanced.”

          The firm had upgraded U.S. stocks on April 10, arguing that excessive trade-related pessimism was priced in. But with tariffs temporarily paused and markets rebounding, UBS believes the easy gains are behind.

          On Monday, the S&P 500 rose 3.3% and the Nasdaq jumped 4.4% after the U.S. and China agreed to reduce tariffs for 90 days while negotiations continue.

          U.S. levies on Chinese imports will fall to 30% from 145%, while China will cut tariffs on U.S. goods to 10% from 125%.

          “The pace and scale of tariff reductions agreed in this initial round have exceeded market expectations,” UBS said.

          Despite the downgrade, UBS emphasized it is “not a bearish view, nor a call to sell equities.”

          “Uncertainty is still high,” UBS cautioned, “and investors will soon begin to focus on whether this temporary fix can evolve into a lasting agreement.”

          The bank continues to advise a full strategic allocation to U.S. stocks and expects equities to be higher 12 months from now.

          UBS’s sector preferences remain unchanged, with Attractive ratings on communication services, tech, health care, and utilities.

          Looking ahead, UBS said the “durability of this rally will depend on two key factors: whether U.S.-China negotiators can turn this into a lasting trade agreement, and how Beijing proceeds with anticipated stimulus.”

          Source: Investing

          To stay updated on all economic events of today, please check out our Economic calendar
          Risk Warnings and Disclaimers
          You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
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