President Donald Trump will engage in trade talks with China this weekend
Futures on the Dow Jones Industrial Average (DJIA), Nasdaq-100 Index (NDX), and S&P 500 Index (SPX) are all pointed higher to end the week. Markets are getting a boost after President Donald Trump shared on TruthSocial he would consider lowering tariffs on China from 145% to 80% ahead of trade talks this weekend. Trump also suggested "many trade deals" are close to being solidified, an encouraging development for investor sentiment after yesterday's preliminary trade agreement with the U.K. Despite the strong finish to the week, only the Dow is on track for a weekly gain.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts and 934,284 put contracts exchanged on Thursday. The single-session equity put/call ratio came in at 0.54, while the 21-day moving average stayed at 0.59.
- Boeing Co (NYSE:BA) stock is up 0.6% before the open, after a price-target hike from UBS to $226 from $207. The analyst in coverage noted the company is well-positioned to withstand risks associated with tariffs. BA is up 8.3% so far in 2025.
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Lyft Inc (NASDAQ:LYFT) is up 10.2% in premarket trading, brushing off a revenue miss after the
rideshare giant beat profit estimates for the first quarter and boosted its share buyback plan to $750 million. LYFT carries a 26.9% year-over-year deficit.
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The shares of
Pinterest Inc (NYSE:PINS) are up 12.6% ahead of the open, after the
social media name beat revenue expectations for the first quarter, while profits missed the mark. The company issued upbeat second-quarter guidance, too. PINS is down 34.7% in the last 12 months.
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Key inflation data is due out
next week, including consumer price index (PPI) and producer price index (PPI) readings.
European Markets Rise on U.K.-U.S. Trade Deal
Asian markets were mixed Friday, as investors digested China’s better-than-expected April trade data and eyed looming U.S.-China trade talks. China’s exports surged 8.1% year-over-year in U.S. dollar terms -- handily beating estimates -- even as shipments to the U.S. plunged over 21% due to escalating tariffs. Meanwhile, the yuan weakened and the People’s Bank of China set its reference rate at the lowest level since April 24. Japan’s Nikkei led regional gains with a 1.6% pop, boosted by stronger-than-expected household spending, while Hong Kong Hang Seng rose 0.4% and China’s Shanghai dipped 0.3%.
In Europe, stocks are higher following confirmation of a U.K.-U.S. trade agreement and ahead of U.S.-China negotiations. Germany’s DAX was last seen 0.6% higher, but briefly touched record highs earlier in the session, while London’s FTSE 100 and France’s CAC 40 rise 0.3% and 0.7%, respectively.