The USA and China Reach a Detente While the World Bank Cuts Its GDP Forecast
Chips for minerals deal keeps the U.S.-China trade truce alive
Highlights
• Chips for minerals deal keeps the U.S.-China trade truce alive
• Stocks take a small pause near record levels
• U.S. bond market is facing a supply glut, while Europe enjoys high demand
• May CPI data is in focus today
Key Takeaways
• Stock Rally Paused Just Below Record as Breadth Signals Strength: U.S. futures are in the red, but only after the S&P 500 came within 2% of its all-time high and the NYSE all-issue daily cumulative A-D line hit a record — a technically bullish signpost.
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