TREASURY SECRETARY
Trump gets compared to Lincoln by Fox News
Donald Trump likened his initial days as president to those of Abraham Lincoln. This comparison follows praise from a Fox News host. Trump shared this on Truth Social. His approval ratings are historically low. Trade talks between the US and China are ongoing in Switzerland. Trump seeks a "total reset" of trade relations.
US-China tariff talks to continue Sunday, as Trump touts 'great progress made'
President Trump hailed “great progress” in US-China tariff talks in Switzerland, suggesting a possible “total reset.” While no major breakthrough occurred, negotiations will continue. Trump aims to ease trade tensions affecting global markets. Talks with Swiss leaders also addressed US tariffs on Swiss goods, prompting cautious Swiss responses amid economic concerns.
Trump hails 'total reset' in US-China trade relations as talks continue
US and China engaged in trade talks in Geneva, signaling a potential "total reset" amid escalating tariff tensions. Discussions aimed to de-escalate the trade war, with both sides acknowledging the current high tariffs are detrimental. While Trump hinted at tariff reductions, the US clarified that concessions from China are necessary for any changes.
Tariff talks begin between US and Chinese officials in Geneva as the world looks for signs of hope
U.S. officials initiated discussions with their Chinese counterparts in Geneva, aiming to de-escalate trade tensions marked by escalating tariffs. While a major breakthrough seems unlikely, both nations hope to scale back tariffs on each other's goods, potentially easing pressure on global markets.
US Stock Market predictions: S&P 500, Dow Jones, Nasdaq eye US-China trade talks
Stock Market in the USA will have another busy week as all eyes are on the Washington's trade talks with China, first since Donald Trump's tariff announcement.
Oil prices little changed ahead of Sino-US trade meeting
Oil prices remained steady on Friday after a previous surge, buoyed by easing U.S.-China trade tensions and a new U.S.-Britain trade agreement. Brent crude is at $62.91 a barrel, while WTI is at $59.98. U.S. and China will meet to resolve trade disputes, while Britain lowered tariffs on U.S. imports.
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Gold firms on dip buying; US-China trade talks in focus
Gold prices edged higher on Friday as investors sought refuge in the precious metal following a previous session dip, awaiting U.S.-China trade discussions this weekend. The market is also digesting the recent U.S.-UK trade agreement and anticipating insights from Federal Reserve officials regarding the economy and monetary policy. Geopolitical tensions in the Kashmir region further influenced market sentiment.
Asian stocks edge up on optimism about trade talks
Shares in Japan, which was negotiating with the US for a deal to lower levies, jumped 1.1% while a regional gauge made moderate gains. Treasuries were little changed at the open after yields surged in the prior session, with traders paring bets on interest rates. Bitcoin extended its rally, rising 0.4% to around $103,000. Gold rebounded early Friday after falling in its two previous sessions. The Nasdaq Golden Dragon China Index rose 1% during US trading.
Oil prices steady after dropping as economic uncertainty, supply concerns weigh
Oil prices saw stability on Thursday. This follows a previous drop due to worries about the U.S. and China trade discussions. These talks are scheduled for May 10 in Switzerland. Investors are concerned about the potential impact on global oil consumption. Rising U.S. gasoline inventories also contribute to demand concerns.
JD Vance warns World Cup visitors not to overstay visas: 'When time is up, they'll have to go home'
Vice President JD Vance jokingly suggested detaining foreign visitors who overstay their welcome during the 2026 World Cup, hosted by the U.S., Canada, and Mexico. This remark, referencing Homeland Secretary Kristi Noem's immigration enforcement, has sparked criticism amidst concerns about strained international relations and potential impacts on tourism. JD Vance said ‘badass’ Homeland Security chief Kristi Noem would be responsible for ensuring that supporters depart after Fifa tournament.
Trump proposes World Cup as incentive to end Russia-Ukraine war but caught off guard by basic question
In a shocking moment, US President Donald Trump was caught off guard by a basic question on World Cup about Russia. Russia have effectively been barred from FIFA and UEFA since Ukraine invasion. But Trump said that if Russia would participate in the World Cup it could provide an 'incentive' for the nation to end the war in Ukraine.
China stock market: Shanghai, Hong Kong show gains as investors eye crucial trade deal with USA
China's government bond yields showed mixed reactions to the rate decision. One-year bond yield dropped 1.45 bps, while the 10-year yield rose 2 bps.
Thank Trump for not getting your dolls: US Treasury Secretary tells girls amid ongoing trade war with China
US President Donald Trump recently faced backlash for repeatedly saying in recent days that children can get by with fewer dolls this year if his sweeping tariff policies drive up living costs for families. Trump's US Treasury Secretary Scott has now come out in his defense amid rising tensions with China.
European shares slip as investors assess earnings; Fed meet in focus
European shares experienced a dip on Wednesday as investors analyzed corporate earnings, U.S.-China trade talk developments, and awaited the Federal Reserve's rate decision. The STOXX 600 index declined by 0.4%, with healthcare shares leading the losses. Novo Nordisk saw a rise, while Ambu and Skanska faced declines after disappointing reports.
Moody's cuts India growth forecast for 2025 to 6.3%
Moody's has reduced India's economic growth prediction for 2025 to 6.3 percent. This revision is due to policy changes and trade uncertainties. Geopolitical risks, including India-Pakistan tensions, also contribute. The IMF and World Bank have also lowered their growth forecasts for India. China's and US's economic growth are also expected to slow down.
Gold slips on US-China trade talk hopes; traders eye Fed policy
U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will meet China's top economic official in Switzerland this week, U.S. officials said, in what could be the first step toward resolving a trade war disrupting the global economy.
US futures climb as Bessent-China talks confirmed
S&P 500 contracts rose 0.8% in early Asia trading on news that Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet with the Chinese government later this week in Switzerland. The planned talks could buoy investors eager to see a reduction in tariffs that risk crippling trade between the world’s two largest economies.
US Treasury Secretary Scott Bessent says US could announce trade deals with some countries this week
U.S. Treasury Secretary Scott Bessent announced that the Trump administration may reveal trade agreements with key partners this week, though specifics were not disclosed. Negotiations are ongoing with 17 major trading partners, excluding China. Bessent noted that many partners have presented favorable offers, and officials are currently re-negotiating these agreements.
Oil steadies after falling to four-year lows in previous session
Oil prices stabilized after a significant drop. This decline followed OPEC+'s decision to increase oil production. Concerns about oversupply grew due to rising US tariffs. Diamondback Energy reduced its output forecast. Barclays lowered its Brent crude forecast. The US Federal Reserve is expected to hold interest rates steady. Treasury Secretary Scott Bessent defended Trump's economic agenda.
Gold hits one-week high on safe-haven demand, Fed decision loom
Gold prices experienced a surge, reaching a one-week high due to escalating concerns surrounding President Trump's proposed tariffs, which heightened safe-haven demand. Investors are closely monitoring the upcoming Federal Reserve policy meeting for insights into the U.S. central bank's future rate decisions, amidst uncertainty caused by the tariff plans. Other metals like silver and platinum saw slight movements.
Trump admin again pokes the Federal Reserve, Scott Bessent says it's time for Jerome Powell to cut rates
The Trump administration is pressuring the Federal Reserve to lower interest rates. Treasury Secretary Scott Bessent cites bond market signals as justification. President Trump has repeatedly criticized Fed Chair Jerome Powell. The Fed's next policy meeting is scheduled for May 7. Markets predict a possible rate cut no sooner than June.
Japan says its $1 trillion in US Treasuries is among tools for trade talks
Japanese Finance Minister Katsunobu Kato suggested Japan might use its massive U.S. Treasury holdings as leverage in trade negotiations with the United States, a shift from his previous stance. This comes as trade talks continue amidst market volatility and U.S. tariffs, with concerns about currency manipulation and the potential impact of Treasury yield moves on Japan's economy. The U.S.
Scott Bessent wants Fed to yield on rates
Two-year Treasury yields were at 3.57% in early traders, compared with a benchmark federal funds rate of 4.33%. The Fed targets the key rate at a range of 4.25% to 4.5%.
Was April 30 Elon Musk's last working day in Donald Trump's administration? Has he packed up and left the White House? Cabinet apparently gave him a friendly send-off
Elon Musk's physical presence at the White House has ended, marking the conclusion of his role as a "special government employee" within the Department of Government Efficiency (DOGE). While he'll remain involved remotely, his focus shifts back to Tesla amidst criticisms of DOGE's impact on government expenditures. Officials commend Musk's contributions despite the changes.
Indian trade deal talks moving well, much easier to negotiate with India: US Treasury Secretary Bessent
The United States and India are nearing a trade agreement. Negotiations are progressing well due to India's high tariffs. US officials see potential deals with South Korea and Japan too. Earlier, reciprocal tariffs were suspended for many countries except China and Hong Kong. US Vice President JD Vance met Prime Minister Narendra Modi to advance trade talks.
After yield surge, US Treasury expected to keep auction sizes steady
The U.S. Treasury is likely to maintain current auction sizes for the fifth consecutive quarter, but investors are keenly awaiting clues about future increases or potential near-term cuts. The focus is on any forward guidance changes that could impact markets. Treasury's borrowing estimate for the second quarter is significantly higher than previously projected, influenced by debt ceiling restrictions.
One of first US trade deals may be with India: Scott Bessent
Speaking to reporters after two early morning TV interviews, Bessent said the first such trade agreement might come this week or next, but gave no further details. He told Fox News that President Donald Trump will be "intimately involved" in each of the bespoke trade deals with each of 15 to 18 important trading partners, but it will be important to reach agreements in principle soon.
Trump repeats old plan more tariffs = less income tax
Amid rising economic anxiety, US President Donald Trump suggested tariffs could lead to income tax cuts for those earning under $200,000. This proposal comes as polls indicate growing disapproval of Trump's economic policies.
Bessent defends 'strategic uncertainty' of Trump tariffs
US Treasury Secretary Scott Bessent defended President Trump's tariff policy as a tool for creating "strategic uncertainty" to gain leverage in trade negotiations. Trump has imposed tariffs on various trading partners, including China, prompting retaliatory measures. Bessent indicated positive progress in negotiations, particularly with Asian countries, while Trump anticipates announcing deals soon, citing job creation due to his tariff policies.
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