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. Following this news, US stock futures surged across the board, with the Dow Jones, S&P 500, and Nasdaq futures all rising more than 1%.
At the same time, the UK and the US reached a trade agreement framework on May 8, which Trump called a 'breakthrough'. The agreement will reduce tariff barriers and expand market access. The double positive boosted market sentiment, with the three major US stock indices ending a three-week decline, and Bitcoin skyrocketing over 6% in a single day, breaking through the $100,000 mark.
US Secretary of Commerce Ross emphasized that the 10% baseline tariff for 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 easing trade tensions has significantly increased, and risk assets may continue to perform strongly in the short term.
