#USChinaTradeTalks The trade talks between the U.S. and China are driving the markets, but investors are really waiting for the Fed chairman, Powell, to speak

The trade talks between the U.S. and China are driving the markets, but investors are really waiting for the Fed chairman, Powell, to speak

BY Ian Mount

May 7, 2025, at 7:02 AM EDT

Treasury Secretary Scott Bessent walks to his seat before his testimony before the Financial Services and General Government Subcommittee of the House Appropriations Committee on May 6, 2025, at the U.S. Capitol in Washington.

Treasury Secretary Scott Bessent walks to his seat before his testimony before the Financial Services and General Government Subcommittee of the House Appropriations Committee on May 6, 2025, at the U.S. Capitol in Washington.

Tom Brenner—The Washington Post via Getty Images

The S&P 500 fell 0.8% yesterday, bringing it down 4.7% for the year so far, while S&P futures rose 0.6% this morning in premarket trading. The U.S. government said Treasury Secretary Scott Bessent would travel to Switzerland to meet with Chinese Vice Premier He Lifeng, Beijing's top economic envoy. Investors found hope in the prospect of negotiations between the two largest economic powers in the world, but their eyes were fixed on Fed Chairman Jerome Powell.