Markets.News
U.S. stocks surged as the Trump administration signed a trade agreement with the UK, boosting optimism for more global deals, particularly with China. The S&P 500 rose 1.3% to finish at 5,700, led by tech stocks, while the Russell 2000 soared 2.1%, fully recovering losses from earlier tariffs. The deal slashed U.S. tariffs on UK vehicles from 25% to 10% with a 100,000 vehicle quota for British carmakers. In exchange, the UK reduced tariffs on American beef and committed to purchasing $10 billion of Boeing aircraft. Trump hinted at potential tax cuts, urging investors to buy stocks, and indicated higher tariffs for nations with trade surpluses. Additionally, he responded to Fed Chair Powell's remarks on a lack of meeting invites.