Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
The United States and China have signed on to a 90-day truce beginning Wednesday, May 14, 2025, which entails steep tariff cuts. The U.S. would reduce its tariffs on Chinese goods from 145% to 30%, while China would reduce its tariffs on U.S. goods from 125% to 10%. The move is to ease trade tensions and give a chance for further negotiations.
Apart from slashing tariffs, China will remove some non-tariff barriers, including restrictions on export of rare earth to America. The two countries have agreed to resume talks on more fundamental issues of trade. Nevertheless, analysts suggest that the agreement brings relief for only a limited period and does not deal with underlying conflicts.
Release of these tariff cuts has seen a surge in global stock markets as a sign that there is a chance of a reduction in trade tensions. Despite this positive market response, there is still doubt whether the long-term settlement of trade disputes will be realized.
