{"id":9275,"date":"2025-05-08T23:49:00","date_gmt":"2025-05-09T03:49:00","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/05\/08\/stocks-finish-moderately-higher-on-us-uk-trade-deal-and-hope-for-weekend-china-talks\/"},"modified":"2025-05-08T23:49:00","modified_gmt":"2025-05-09T03:49:00","slug":"stocks-finish-moderately-higher-on-us-uk-trade-deal-and-hope-for-weekend-china-talks","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/05\/08\/stocks-finish-moderately-higher-on-us-uk-trade-deal-and-hope-for-weekend-china-talks\/","title":{"rendered":"Stocks Finish Moderately Higher on US-UK Trade Deal and Hope for Weekend China Talks"},"content":{"rendered":"<div class=\"layout__region nsdq-l-grid__item syndicated-article-body\">\n<section class=\"jupiter22-c-article-body\">\n<div class=\"body\">\n<div class=\"body__content\">\n<p>The\u00a0S&#038;P 500 Index ($SPX) (SPY) Thursday closed up +0.58%, the\u00a0Dow Jones Industrials Index ($DOWI)\u00a0(DIA) closed up +0.62%, and the\u00a0Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.98%. \u00a0June E-mini S&#038;P futures (ESM25) are up +0.61%, and June E-mini Nasdaq futures (NQM25) are up +0.97%.\u00a0<\/p>\n<p>Stock indexes settled higher Thursday, with the S&#038;P 500 and Nasdaq 100 climbing to 6-week highs and the Dow Jones Industrials posting a 5-week high.\u00a0Stocks rose Thursday after President Trump announced a \u201cmajor\u201d trade deal with the UK, bolstering optimism the US was making headway in tariff negotiations.\u00a0 The announcement raised hopes that President Trump\u2019s tariffs will be negotiated down, averting lasting economic damage to economic growth and corporate profits.\u00a0 Stocks rose to their highs Thursday after President Trump said investors should buy stocks now because tariffs could be lowered if US-China trade talks this weekend go well.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-AYU\"  class=\"btf-bodymidpagetwothirdswidth-1\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-AYU')) {             googletag.display('js-dfp-tag-AYU');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>     <span>Join 200K+ Subscribers: <\/span> Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.  <\/p>\n<p>\u00a0<\/p>\n<p>Semiconductor stocks on Thursday extended Wednesday\u2019s rally on a Bloomberg report that said the Trump administration plans to rescind Biden-era AI chip curbs as part of a broader effort to revise semiconductor trade restrictions.<\/p>\n<p>The weakness in drug makers and pharmaceutical companies Thursday was a bearish factor for stocks.\u00a0 Politico reported that President Trump plans to revive an effort to cut drug costs dramatically by tying the amount the government pays for some medicines to lower prices abroad.\u00a0<\/p>\n<p>Thursday\u2019s US economic news pushed bond yields higher and was negative for stocks after weekly initial unemployment claims fell more than expected, a sign of labor market strength.\u00a0 Meanwhile, Q1 nonfarm productivity declined for the first time in almost 3 years, and Q1 unit labor costs rose by the most in a year.\u00a0<\/p>\n<p>US weekly initial unemployment claims fell -13,000 to 228,000, showing a stronger labor market than expectations of 230,000.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-5mk\"  class=\"btf-bodymidpagetwothirdswidth-2\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-5mk')) {             googletag.display('js-dfp-tag-5mk');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>US Q1 nonfarm productivity fell -0.8%, right on expectations and the first decline in 2-3\/4 years.\u00a0 Q1 unit labor costs rose +5.7%, more than expectations of +5.1% and the most in a year.<\/p>\n<p>The markets are discounting the chances at 17% for a -25 bp rate cut after the June 17-18 FOMC meeting.<\/p>\n<p>Q1 earnings reporting season remains in progress.\u00a0 According to data compiled by Bloomberg Intelligence, the market consensus is for Q1 year-over-year earnings growth of +6.7% for the S&P 500 stocks, down from expectations of +11.1% in early November. \u00a0So far, of the 386 companies in the S&P 500 companies that have reported quarterly results, 78% have beaten estimates. \u00a0Full-year 2025 corporate profits for the S&P 500 are seen rising +9.4%, down from the forecast of +12.5% in early January. \u00a0<\/p>\n<p>Overseas stock markets on Thursday settled higher. \u00a0The Euro Stoxx 50 climbed to a 5-week high and closed up +1.12%. \u00a0China\u2019s Shanghai Composite rallied to a 5-week high and closed up +0.28%. \u00a0Japan\u2019s Nikkei Stock 225 rose to a 1-1\/4 month high and closed up +0.41%.<\/p>\n<p><strong>Interest Rates<\/strong><\/p>\n<p>June 10-year T-notes (ZNM25) Thursday closed down -24 ticks. \u00a0The 10-year T-note yield rose +10.4 bp to 4.373%. \u00a0June T-notes tumbled to a 2-week low Thursday, and the 10-year T-note yield rose to a 2-week high of 4.382%.\u00a0 T-notes came under pressure Thursday on reduced safe-have demand as stocks rallied sharply on signs of easing trade tensions after President Trump announced a trade deal with the UK.\u00a0 T-notes also have some negative carryover from Wednesday when Fed Chair Powell said the Fed was in no hurry to adjust interest rates.\u00a0 In addition, rising inflation expectations are bearish for T-notes after the 10-year breakeven inflation rate rose to a 1-1\/2 week high Thursday at 2.313%.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-gAE\"  class=\"btf-bodymidpagetwothirdswidth-3\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-gAE')) {             googletag.display('js-dfp-tag-gAE');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>T-note prices dropped to their lows Thursday on weak demand for the Treasury\u2019s $25 billion 30-year T-bond auction, which had a bid-to-cover ratio of 2.31 that was below the 10-auction average of 2.42.\u00a0<\/p>\n<p>European government bond yields on Thursday moved higher. \u00a0The 10-year German bund yield rose +6.0 bp to 2.535%.\u00a0The 10-year UK gilt yield rose +8.6 bp to 4.546%.<\/p>\n<p>German Mar industrial production rose +3.0% m\/m, stronger than expectations of +1.0% m\/m and the biggest increase in almost 3-1\/2 years.<\/p>\n<p>German trade news was mixed as German Mar exports rose +1.1% m\/m, stronger than expectations of +1.0% m\/m.\u00a0 However, Mar imports unexpectedly fell -1.4% m\/m versus expectations of a +0.4% m\/m increase.<\/p>\n<p>The BOE, as expected, cut the official bank rate by -25 bp to 4.25% from 4.50%, and BOE Governor Bailey said, \u201cInflationary pressures have continued to ease, so we\u2019ve been able to cut rates again today.\u201d<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-xcM\"  class=\"btf-bodymidpagetwothirdswidth-4\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-xcM')) {             googletag.display('js-dfp-tag-xcM');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>Swaps are discounting the chances at 93% for a -25 bp rate cut by the ECB at the June 5 policy meeting.<\/p>\n<p><strong>US Stock Movers<\/strong><\/p>\n<p>Chip stocks on Thursday extended Wednesday\u2019s gains on a Bloomberg report that said the Trump administration plans to rescind Biden-era AI chip curbs.\u00a0 Marvell Technology (MRVL), Intel (INTC), Micron Technology (MU), and ON Semiconductor (ON) closed up more than +3%.\u00a0 Also, Microchip Technology (MCHP) and GlobalFoundries (GFS) closed up more than +2%.\u00a0 In addition, Advanced Micro Devices (AMD), Analog Devices (ADI), KLA Corp (KLAC), and NXP Semiconductors NV (NXPI) closed up more than +1%.\u00a0<\/p>\n<p>Energy stocks rallied Thursday after the price of WTI crude oil rose more than +2%.\u00a0 As a result, Occidental Petroleum (OXY) closed up more than +6%, and Devon Energy (DVN) and Diamondback Energy (FANG) closed up more than +5%.\u00a0 Also, APA Corp (APA), Haliburton (HAL), and Valero Energy (VLO) closed up more than +4%.\u00a0 In addition, Marathon Petroleum (MPC), Phillips 66 (PSX), and Schlumberger (SLB) closed up more than +3%.\u00a0<\/p>\n<p>Cryptocurrency-exposed stocks jumped Thursday after the price of Bitcoin rose more than +4% to a 3-month high.\u00a0 Coinbase Global (COIN), MicroStrategy (MSTR), MARA Holdings (MARA), and Riot Platforms (RIOT) closed up more than +6%. \u00a0<\/p>\n<p>Axon Enterprises (AXON) closed up more than +14% to lead gainers in the S&P 500 and Nasdaq 100\u00a0 after boosting its full-year revenue estimate to $2.60 billion to $2.70 billion from a prior view of $2.55 billion to $2.65 billion.\u00a0<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-7zs\"  class=\"btf-bodymidpagetwothirdswidth-5\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-7zs')) {             googletag.display('js-dfp-tag-7zs');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>EPAM Systems (EPAM)\u00a0closed up more than +13% after reporting Q1 adjusted EPS of $2.41, better than the consensus of $2.27, and raising its full-year adjusted EPS forecast to $10.70-$10.95 from a previous forecast of $10.45-$10.75, above the consensus of $10.50.<\/p>\n<p>AppLovin (APP) closed up more than +11% after reporting Q1 revenue of $1.48 billion, stronger than the consensus of $1.38 billion.<\/p>\n<p>Carvana (CVNA) closed up more than +11% after reporting Q1 revenue of $4.23 billion, stronger than the consensus of $3.95 billion.<\/p>\n<p>MercadoLibre (MELI) closed up more than +6% after reporting Q1 adjusted Ebitda of $935.0 million, well above the consensus of $804.9 million.\u00a0<\/p>\n<p>Tapestry (TPR) closed up more than +4% after reporting Q3 net sales of $1.58 billion, stronger than the consensus of $1.53 billion.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-X60\"  class=\"btf-bodymidpagetwothirdswidth-6\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-X60')) {             googletag.display('js-dfp-tag-X60');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>Drug makers and pharmaceutical stocks were under pressure Thursday following a Politico report that said President Trump plans to revive an effort to dramatically cut drug costs by tying the amount the government pays for some medicines to lower prices abroad.\u00a0 As a result, AstraZeneca Plc (AZN) and Eli Lilly (LLY) closed down more than -3%.\u00a0 Also, Regeneron Pharmaceuticals (REGN) closed down more than -2%, and \u00a0AbbVie (ABBV), Vertex Pharmaceuticals (VRTX), Amgen (AMGN), Merck & Co (MRK) and Bristol-Meyers Squibb (BMY) closed down more than -1%.\u00a0<\/p>\n<p>Match Group (MTCH) closed down more than -9% to lead losers in the S&P 500 after forecasting Q2 adjusted operating income of $295 million-$300 million, below the consensus of $309.4 million and announced a -13% reduction in its workforce.<\/p>\n<p>Fortinet (FTNT) closed down more than -8% to lead losers in the Nasdaq 100 after forecasting full-year billings between $7.20 billion and $7.40 billion, the midpoint below the consensus of $7.35 billion.\u00a0<\/p>\n<p>Arm Holdings (ARM) closed down more than -6% after forecasting Q1 adjusted EPS of 30 cents to 38 cents, weaker than the consensus of 42 cents.\u00a0<\/p>\n<p>Molson Coors Beverage (TAP) closed down more than -4% after reporting Q1 underlying EPS of 50 cents, much weaker than the consensus of 81 cents.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-uHc\"  class=\"btf-bodymidpagetwothirdswidth-7\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-uHc')) {             googletag.display('js-dfp-tag-uHc');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>Genpact Ltd (G) closed down more than -14% after cutting its full-year revenue forecast to $4.86 billion-$5.01 billion from a previous forecast of $5.03 billion-$5.13 billion, weaker than the consensus of $5.08 billion.<\/p>\n<p><strong>Earnings Reports (5\/9\/2025)<\/strong><\/p>\n<p>Starwood Property Trust Inc (STWD), Ubiquiti Inc (UI).<\/p>\n<p><i>     On the date of publication,      Rich Asplund              did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy          here. <\/i><\/p>\n<p>\u00a0<\/p>\n<p> More news from Barchart <\/p>\n<ul>\n<li>Should You Buy the Post-Earnings Dip in This AI Dividend Stock?<\/li>\n<li>This Warren Buffett Stock Just Keeps Getting Hotter. Should You Buy It Now?<\/li>\n<li>Billionaire Dan Loeb Is Betting Big on U.S. Steel Stock. Should You?<\/li>\n<li>Is This \u2018Strong Buy\u2019 EV Stock a Smart Investment Amid Geely\u2019s Buyout Offer?<\/li>\n<\/ul>\n<p class=\"body__disclaimer\">The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p>        <script type=\"text\/javascript\">   \/\/ add oddAd class to every odd instance of body .ads__inline for different placeholder styles   let articleAds = document.querySelectorAll('.ads__inline');   for (let i = 0, len = articleAds.length; i < len; i++) {     \/\/ Do the below only if the curent count is less than 12     if ((i < 12) &#038;&#038; (i % 2 === 0)) {       articleAds[i].className += ' oddAd';     }   } <\/script>                                               <\/p>\n<div class=\"jupiter22-c-tags jupiter22-c-tags-default\">\n<h3 class=\"jupiter22-c-tags-title\">         Tags       <\/h3>\n<div class=\"jupiter22-c-tags-container\">Stocks<\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0S&#038;P 500 Index ($SPX) (SPY) Thursday closed up +0.58%, the\u00a0Dow Jones Industrials Index ($DOWI)\u00a0(DIA) closed up +0.62%, and the\u00a0Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.98%. \u00a0June E-mini S&#038;P futures (ESM25) are up +0.61%, and June E-mini Nasdaq futures (NQM25) are up +0.97%.\u00a0 Stock indexes settled higher Thursday, with the S&#038;P 500 and Nasdaq 100 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[18],"tags":[],"class_list":["post-9275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock","entry","has-media"],"_links":{"self":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/9275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/comments?post=9275"}],"version-history":[{"count":0,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/9275\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media\/9276"}],"wp:attachment":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media?parent=9275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/categories?post=9275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/tags?post=9275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}