According to BlockBeats, high-level economic and trade talks between China and the US were held in Geneva from May 10 to 11, announcing substantial progress. As a result of this news, US stock futures surged across the board, with the Dow Jones, S&P 500, and Nasdaq futures all rising by more than 1%.
At the same time, the US and UK reached a framework for a trade agreement on May 8, which Trump called 'breakthrough'. The agreement will reduce tariff barriers and expand market access. This dual positive news stimulated market sentiment, leading to the three major US stock indexes ending a three-week decline, while Bitcoin surged over 6% in a single day, breaking through the $100,000 mark.
US Secretary of Commerce Ross emphasized that the 10% benchmark tariffs on multiple countries will remain 'unchanged in the short term', but the US-UK agreement may provide a reference for future trade negotiations. Market optimism regarding global economic recovery and the easing of trade frictions has significantly increased, and risk assets may continue to perform strongly in the short term.
