{"id":98110,"date":"2025-05-13T13:14:09","date_gmt":"2025-05-13T13:14:09","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/98110\/"},"modified":"2025-05-13T13:14:09","modified_gmt":"2025-05-13T13:14:09","slug":"wall-street-dips-as-euphoria-over-china-us-trade-truce-fades-and-new-inflation-data-arrives","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/98110\/","title":{"rendered":"Wall Street dips as euphoria over China-US trade truce fades and new inflation data arrives"},"content":{"rendered":"

Wall Street is on track to open with losses Tuesday as the initial euphoria over the 90-day truce<\/a> in the U.S.-China trade war<\/a> faded and markets turned their attention to corporate earnings<\/a> and new inflation data<\/a>.<\/p>\n

Futures for the S&P 500 slipped 0.2% while futures for the Dow Jones Industrial Average fell 0.6%. Nasdaq futures ticked down just 0.1% ahead of the government\u2019s latest report on inflation at the consumer level.<\/p>\n

UnitedHealth Group shares tumbled more than 10% after it suspended its full-year financial forecast<\/a> due to higher-than-expected medical costs. The nation\u2019s largest health insurer also announced that CEO Andrew Witty was stepping down for personal reasons and that Chairman Stephen Hemsley will become CEO, effective immediately.<\/p>\n

Boeing shares got a small boost on media reports that China had lifted a ban on airlines there taking deliveries of the U.S. aerospace giant\u2019s planes. According to reports, China removed those obstacles as part of Monday\u2019s trade truce with the U.S. Boeing shares rose close to 2% in premarket trading Tuesday.<\/p>\n

Stocks soared Monday after the United States said in a joint statement<\/a> with China that it will cut tariffs on Chinese goods to 30% from as high as 145%, for 90 days. <\/p>\n

China, meanwhile, said its tariffs on U.S. goods will fall to 10% from 125%. The agreement allows time for more talks following the weekend\u2019s negotiations in Geneva, Switzerland, which the U.S. side said yielded \u201c substantial progress<\/a>.\u201d<\/p>\n

The outcome surpassed most expectations, reassuring investors, said Stephen Innes of SPI Asset Management. <\/p>\n

\u201cMake no mistake, this was highly stage-managed diplomacy. But the optics are good and the implications real. It signals that even this administration recognizes the economic drag of unrelenting tariffs,\u201d he said in a commentary.<\/p>\n

Still, big challenges remain in the negotiations between Beijing and Washington and many countries have yet to negotiate tariff-alleviating deals of their own.<\/p>\n

\u201cI think investors are aware that the trade deal is not done yet. It\u2019s not done deal yet,\u201d said Louis Wong, director for Phillip Securities Group in Hong Kong. \u201cI would advise investors to remain cautious in the near term and to be prepared for unexpected news from the trade front,\u201d he added. <\/p>\n

European markets edged higher, with Germany\u2019s DAX and the CAC 40 in Paris each gaining 0.1%. Britain\u2019s FTSE 100 was flat.<\/p>\n

Beijing\u2019s anger over the trade war remained apparent. Speaking to officials from China and Latin America on Tuesday, leader Xi Jinping reiterated China\u2019s stance that nobody wins a trade war and that \u201cBullying or hegemonism only leads to self-isolation.\u201d <\/p>\n

Tokyo\u2019s Nikkei 225 jumped 1.4% to 38,183.26. Automakers were among the big gainers after the U.S. dollar surged against the Japanese yen. Toyota Motor Corp. gained 3.5% and Suzuki Motor Corp. was 2.4% higher. <\/p>\n

Nissan Motor<\/a> Co. added 3% ahead of an announcement that it plans to lay off 20,000 of its workers as part of its restructuring efforts. The automaker said Tuesday that it racked up a loss of 670.9 billion yen ($4.5 billion) in the last fiscal year.<\/p>\n

The Kospi in South Korea was nearly unchanged at 2,608.42.<\/p>\n

Hong Kong\u2019s Hang Seng, which gained 3% a day earlier after Chinese and U.S. officials announced the agreement to pause tariffs and reduce them, fell 1.9% to 23,108.27 on heavy selling of technology shares. <\/p>\n

The Shanghai Composite index edged 0.2% higher to 3,374.87 and Taiwan\u2019s Taiex jumped 1%.<\/p>\n

India\u2019s Sensex fell 1.5%. <\/p>\n

In Australia, the S&P\/ASX 200 climbed 0.4% to 8,2769.00. <\/p>\n

In energy trading, U.S. benchmark crude oil added 64 cents to $62.59 per barrel. Brent crude, the international standard, gained 60 cents to $65.56 per barrel. <\/p>\n

___<\/p>\n

Associated Press video journalist Alice Fung contributed from Hong Kong. <\/p>\n","protected":false},"excerpt":{"rendered":"Wall Street is on track to open with losses Tuesday as the initial euphoria over the 90-day truce…\n","protected":false},"author":2,"featured_media":98111,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[45637,51,1395,7684,1700,3663,4179,4178,3058,45640,45643,45639,45641,41234,45642,16,15,45638,263],"class_list":{"0":"post-98110","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-andrew-witty","9":"tag-business","10":"tag-china","11":"tag-china-government","12":"tag-economy","13":"tag-financial-markets","14":"tag-general-news","15":"tag-inc","16":"tag-international-trade","17":"tag-louis-wong","18":"tag-stephen-hemsley","19":"tag-stephen-innes","20":"tag-suzuki-motor-corp","21":"tag-the-boeing-co","22":"tag-toyota-motor-corp","23":"tag-uk","24":"tag-united-kingdom","25":"tag-unitedhealth-group","26":"tag-world-news"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114500708847422037","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/98110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=98110"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/98110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/98111"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=98110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=98110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=98110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}