TARIFFS LATEST US, China to slash tariffs for 90 days Tokyo - Delayed Quote • JPY Sumitomo Bakelite Company Limited (4203.T) Follow Add holdings 3,563.00 +146.00 +(4.27%) At close: 3:30:00 PM GMT+9 Related News Stock market today: Dow gains 1,000 points, while S&P 500, Nasdaq surge as US-China deal spurs a rush into stocks US and China said they have agreed to slash most tariffs for 90 days while further trade talks take place. How sectors, names, & assets are moving on US–China trade truce US stocks (^GSPC, ^IXIC, ^DJI) are jumping after a trade truce was reached between the US and China. Yahoo Finance Markets and Data Editor Jared Blikre breaks down sector and asset class moves, with tech and consumer discretionary leading sector gains and defensive plays lagging. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. US, China agree to tariff truce: How Wall Street is reacting As US stock futures (ES=F, NQ=F, YM=F) perk up Monday morning after US and China officials agreed to a trade truce, the S&P 500 (^GSPC) is already on pace to claw back losses since President Trump's "Liberation Day" tariffs. Yahoo Finance senior markets reporter Josh Schafer expands upon the reactions he is hearing from Wall Street experts and what they will be paying attention to over the next 90 days, as per the tariff cool-off period agreed to by American and Chinese representatives. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. US-China tariff agreement may add fuel to 'Magnificent 7' stock rally The "Magnificent Seven" trade looks to be on again, for now. How 'negative' sentiment is driving defensive tech bets Tech stocks have clawed back some recent losses, but uncertainty around tariffs is keeping investors cautious. Baird managing director Ted Mortonson joins Market Domination to break down the shift in sentiment, highlighting why some still see big names like Microsoft (MSFT) and Amazon (AMZN) as relatively safe bets. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Amazon offers peek at new human jobs in an AI bot world The tech industry seems to have two thoughts when it comes to where human workers fit into the AI-powered world they are creating: Either they think that all the jobs, except perhaps their own, will be done by bots. (VC Marc Andreessen seems to think that his work as an investor could never be automated). Or they think that bots will do the icky, boring work, acting as human companions in jobs while humans do brand-new jobs that the bot revolution creates. The latter is the one most supported by Microsoft and OpenAI may be renegotiating their partnership OpenAI is currently in “a tough negotiation” with one of its biggest investors and partners, Microsoft, according to the Financial Times. The AI startup recently announced a major change to its corporate restructuring plans — while it still aims to convert its business arm into a for-profit public benefit corporation, its nonprofit board will remain in control. The FT says it spoke to multiple sources who describe Microsoft, which has invested $13 billion in OpenAI to date, as a key holdout need Stocks to Watch Monday: Nvidia, AMD, Broadcom, Apple ↗️ Amazon (AMZN); Apple (AAPL); Meta (META); Tesla (TSLA): The biggest U.S. tech stocks surged after the White House and China agreed to substantial tariff cuts. Among them, Amazon sells many Chinese-made products on its platform; China is an important market for Tesla; and Apple does much of its assembly in the country. Trump signals he could speak with China's Xi by end of the week President Donald Trump said on Monday that he could speak with China's President Xi Jinping at the end of the week amid progress between the two economic rivals on a trade deal. Trump said the negotiations between the two countries this past weekend has led to a "reset" between the two nations. (Reporting By Steve Holland, Jarrett Renshaw; Editing by Nick Zieminski) S&P 500, Dow Jones Pharma Stocks Boomerang As Trump Threatens Drug-Price Reform Pharmaceutical stocks slipped Monday after Trump said he would sign an executive order to lower drug prices in the U.S. The Dow surges 1,000 points and the Nasdaq soars as the U.S. and China call a trade war truce U.S. stocks soared Monday morning after Washington and Beijing struck a surprise deal to dramatically cut tariffs, marking a rare moment of clarity and good news in an otherwise volatile environment. Dow, S&P Surge After U.S., China Agree to Slash Tariffs Markets around the world surged after the U.S. and China agreed to slash tariffs on each other's goods, reassuring investors about the prospects for trade between the world’s two biggest economies, and boosting the global outlook. The tech-heavy Nasdaq Composite jumped nearly 4%. The S&P 500 rose 2.7%. S&P 500 jumps 2.9% after China and the U.S. announce a 90-day truce in their trade war S&P 500 jumps 2.9% after China and the U.S. announce a 90-day truce in their trade war. The Smartest Dividend Stocks in Bill Ackman's Portfolio to Buy With $1,000 Right Now Dividend stocks can be great for investors looking for reliable passive income. Bill Ackman has become one of the must-watched investors in recent years. Billionaire investor Bill Ackman has built quite the name for himself as one of the key investors to watch in the modern era. Sector Update: Consumer Stocks Edge Higher Pre-Bell Monday Consumer stocks edged higher pre-bell Monday as the Consumer Staples Select Sector SPDR Fund (XLP) w Here’s Why NVIDIA Corporation (NVDA) Fell in Q1 Baron Funds, an investment management company, released its “Baron Technology Fund” first quarter 2025 investor letter. A copy of the letter can be downloaded here. Market trends are often driven by sentiment in addition to fundamental elements, and the first quarter of 2025 was a clear example of this. January saw a strong performance for […] Eli Lilly Says Trial Patients Lost More Weight on Zepbound Than Rival’s Wegovy The obesity drug helped patients reduce their waist size by an extra two inches compared to those on Novo Nordisk’s Wegovy in a head-to-head study of the two drugs. Amazon Stock Rallies On China Tariff Deal. China E-Commerce Stocks Alibaba, PDD Also Jump. Amazon stock surged early Monday as the U.S. and China agreed to slash tariffs beyond Wall Street's expectations. Can the US and China maintain progress on trade talks? Have your say Stocks rallied on Monday, on the back of the news that the US and China had agreed to temporarily cut tariffs on each other, marking a de-escalation in trade tensions. These Stocks Are Moving the Most Today: Amazon, Nvidia, Tesla, Alibaba, Eli Lilly, Pfizer, RH, Newmont, and More Amazon.com, Nvidia, Tesla, and the rest of the Magnificent Seven stocks jump as the U.S. and China reach an agreement to temporarily slash most tariffs on each other’s goods, while Eli Lilly and Pfizer fall after President Donald Trump plans to sign an executive order that would reduce the cost of drugs in the U.S. Performance Overview Trailing total returns as of 5/12/2025, which may include dividends or other distributions. Benchmark is Nikkei 225 (^N225) Return 4203.T Nikkei 225 (^N225) YTD -6.85% -5.64% 1-Year -20.97% -1.53% 3-Year +81.26% +46.20%