TARIFFS LATEST US, China to slash tariffs for 90 days Dubai • AED Al Salam Bank B.S.C. (SALAM_BAH.AE) Follow Add holdings 2.0200 -0.0200 (-0.98%) At close: 10:30:35 AM GMT+4 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. Oil prices rise, gold slips, Kindly MD-Nakamoto merger Yahoo Finance host Josh Lipton tracks today's top moving stocks and biggest market stories in this Market Minute, including rising oil prices (CL=F, BZ=F) after US and Chinese officials agree to terms, gold prices (GC=F) slip, and Kindly MD (KDLY) shares skyrocket on headlines of its merger with Nakamoto to establish a bitcoin (BTC-USD) treasury. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute. Target, Astera Labs, Kindly MD: Trending Tickers Wealth host Brad Smith outlines some of today's trending stories. Target (TGT) was downgraded to Underperform from Market Perform by Bernstein analysts, citing the retailer's "difficult trade-off" between sales and margins. Astera Labs (ALAB) was upgraded to Overweight by Morgan Stanley, saying the stock's recent decline is a good entry point. Kindly MD (KDLY) stock skyrockets after announcing a merger with Nakamoto Holdings. To watch more expert insights and analysis on the latest market action, check out more Wealth here. Ford, GM, & Stellantis; retail stocks; Shopify: Trending Tickers Catalysts host Madison Mills takes a look at some of the trading session's top stories. US automaker stocks Ford (F), General Motors (GM), and Stellantis (STLA) are gaining on tariff negotiation progress. Retail stocks, like Nike (NKE), Lululemon (LULU), and Target (TGT), are also popping on the temporary US–China tariff cooldown. Shopify (SHOP) is set to replace software company MongoDB (MDB) on the Nasdaq 100 index (^NDX) on May 19. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. US and China to slash tariffs for 90 days as Trump and Xi likely to talk 'maybe at the end of the week' US and China agreed to a 90-day pause on their trade war following high-stakes talks this past weekend in Switzerland. 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. Secrets behind 'Magnificent 7' surge ahead of Nvidia earnings You can catch Opening Bid on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts. The Magnificent 7 stocks are performing strongly again, even with chipmaker Nvidia's earnings report not due until May 28. This leadership group, which had largely underperformed in 2025 due to valuation concerns and macroeconomic risks, has seen a rally since the April 8 lows. This resurgence can be attributed to a couple of key factors. First, tech mega-caps like Microsoft (MSFT) and Alphabet (GOOGL (GOOGL)) significantly exceeded earnings estimates. Barclays' data indicates that these large-cap tech companies beat analyst earnings estimates by an average of 8% in the first quarter. Second, the earnings growth for these major tech players in the first quarter was once again impressive. Goldman Sachs' (GS) data reveals that large-cap tech stocks within the Mag 7 achieved an average earnings growth of 28% in the first quarter, compared to just 9% for the other 493 stocks in the S&P 500. For full episodes of Opening Bid, listen on your favorite podcast platform or watch on our website. Yahoo Finance's Opening Bid is produced by Langston Sessoms 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 Tech Strategist 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. Nvidia Poised for Upside on Tariff Deal Wedbush sees April's 115% cut sparking tech rally into next talks Tesla (TSLA) Hits Trillion-Dollar Market Cap Amid Trade Breakthrough Tesla's Value Breaks $1 Trillion on Temporary Tariff Cut Apple Shares Rise as Tariffs on Devices Cut U.S. and China trim levies, easing iPhone production worries Trump Says China Agreed to Suspend Non-Tariff Barriers in Talks (Bloomberg) -- US President Donald Trump said China had agreed to remove non-tariff barriers to US imports as he announced a deescalation of his trade war with Beijing, suggesting even greater concessions could be in store if talks progress.Most Read from BloombergA New Central Park Amenity, Tailored to Its East Harlem NeighborsAs Trump Reshapes Housing Policy, Renters Face Rollback of RightsWhat’s Behind the Rise in Serious Injuries on New York City’s Streets?NYC Warns of 17% Drop in Foreign To Apple Plans AI-Powered Battery Management Mode for Devices in iOS 19 (Bloomberg) -- Apple Inc. is planning to use artificial intelligence technology to address a frequent source of customer frustration: the iPhone’s battery life. Most Read from BloombergA New Central Park Amenity, Tailored to Its East Harlem NeighborsAs Trump Reshapes Housing Policy, Renters Face Rollback of RightsWhat’s Behind the Rise in Serious Injuries on New York City’s Streets?NYC Warns of 17% Drop in Foreign Tourists Due to Trump PoliciesLA Mayor Credits Trump on Fire Aid, Stays Wary on Im The Good News on Trade Will Bring New Market Highs. Eventually. Stocks are soaring after weekend talks in Switzerland ended with the U.S. and China agreeing to reduce their so-called reciprocal tariffs. Nvidia, Broadcom, AMD Rally as U.S. and China Ease Trade Barriers Chip Sector Spikes as Tariffs Fall to 30% for Three Months CVS Health celebrates reopening of Hendersonville store destroyed by Hurricane Helene Today, leaders from CVS Health® (NYSE: CVS) were joined by state and local representatives to celebrate the reopening of one of its Hendersonville CVS Pharmacy stores. Located at 522 South Main Street, the store was severely damaged during Hurricane Helene and forced to close last September. After months of repairs, it is the first store to reopen at the busy intersection of South Main Street and Spartanburg Highway, marking a milestone for the community, which suffered extensive damage when Cle The Stock Market Isn't Out of the Woods Yet Surging stocks on Monday added an exclamation point to the market’s rally off its lows in April, but that doesn’t mean Wall Street is out of the woods yet. A sharp, but temporary, reduction in tariffs on goods from China gives the White House 90 days of breathing room to negotiate a trade arrangement that won’t cause massive headaches for businesses and consumers and risk major global economic fallout. Callie Cox, chief market strategist at Ritholtz Wealth Management, likens the reprieve to a trade embargo being lifted, for now. Shocking China news sends Apple stock surging today The tech leader is rallying today due to an unexpected announcement. Nvidia (NVDA) Tweaks H20 Chip to Keep China Business Alive Downgraded model aims to sidestep U.S. export curbs Stock Market Today: Dow Jones Soars 1,000 Points; Mag 7 Surge On China Trade Deal; Bitcoin Stocks Shine (Live Coverage) The Dow Jones surged on the stock market today. Treasury Secretary Bessent spoke out on China amid tariff progress. Alibaba cleared an entry. Performance Overview Trailing total returns as of 5/12/2025, which may include dividends or other distributions. Benchmark is MSCI WORLD (^990100-USD-STRD) Return SALAM_BAH.AE MSCI WORLD (^990100-USD-STRD) YTD +9.40% +2.16% 1-Year +9.95% -- 3-Year +165.09% +43.49%