Trump also told Time Magazine that Chinese President Xi Jinping had called him to strike a tariff deal, but did not specify when the call was made or what the two leaders discussed.
Wall Street's three-day rally came to a pause on Friday, with major indices hovering near the flatline by midday in New York as caution returned amid mixed signals on U.S.-China trade relations.
The order will expedite the extraction of minerals such as nickel, copper, and rare earth elements from the ocean floor — resources crucial to the production of electric vehicle batteries, wind turbines, and other clean-energy technologies.
U.S. equity markets are coming off a three-day rally, but escalating trade tensions and increasing uncertainty between the US and China have capped momentum.
He stressed that investors are increasingly wary of U.S. Treasury bonds, traditionally viewed as safe-haven assets, due to the unpredictability introduced by the trade war.
The S&P 500 and the Nasdaq Composite ended Thursday at their highest levels since early April 2, suggesting a return to the levels before the tariff announcement.
P&G CFO Andre Schulten said the company will focus on pricing, productivity, and innovation in the near term to counter the impact of President Donald Trump’s recent tariffs.
Hammack told CNBC that the Fed can afford to be patient with rate changes and said it will act swiftly if needed, but current data does not yet warrant a move.
US durable goods orders surged in March, but with a mixed picture. Transportation equipment led the gain, while other sectors showed minimal growth or decline.
U.S. equities are pushing higher for a third straight session, eyeing the longest winning streak since the Trump tariff announcement on April 2, as optimism over corporate earnings and easing trade tensions boosts risk sentiment.
While Wednesday’s gains were sparked by signs that Trump may be rethinking his approach on tariffs, the Chinese government stated that it had not held talks with the White House, “let alone reach an agreement.”
Retail investors are raising concerns over U.S. Treasury Secretary Scott Bessent's recent remarks on tariffs and the ongoing trade tensions with China, delivered at a closed-door investor summit hosted by JPMorgan Chase & Co. (NYSE: JPM).
Highlighting the positives of Wednesday's rally, a technical strategist said all the Nasdaq 100 stocks closed in the green for the first time since October 2022, when the current bull market began.
Evercore’s Krishna Guha warned that Federal Reserve Chair Jerome Powell remains a convenient scapegoat for any economic fallout tied to President Donald Trump’s trade war.
In a severe downside scenario, global public debt could hit 117% of GDP by 2027, surpassing World War II levels, the IMF said in its latest Fiscal Monitor report.
Risk-on sentiment dominated Wall Street on Wednesday, as upbeat earnings reports and conciliatory messages from the Trump administration helped lift investor confidence.
Katsunobu Kato, a member of parliament, is set to meet U.S. Treasury Secretary Scott Bessent this week in Washington, with the second round of trade talks set to follow later this month.
Among the earnings to watch on Wednesday are AT&T (T), Boeing (BA), International Business Machines (IBM), Lam Research (LRCX), and Texas Instruments (TXN).
