U.S. Treasury Secretary Scott Bessent (middle) at Lancaster Home in London, U.Ok., on Monday, June 9, 2025.
Chris Ratcliffe | Bloomberg | Getty Photographs
Commerce negotiators from the U.S. and China have met in London, and talks are anticipated to proceed Tuesday, a supply aware of the scenario instructed CNBC’s Megan Casella.
On the high of the agenda for America seems to be a rest of China’s uncommon earths export curbs, in line with a CNBC interview with U.S. Nationwide Financial Council Director Kevin Hassett. If China’s actions late final week — when it seemingly gave Western automakers concessions concerning these minerals — are any indication, Beijing might be prepared to accede to the U.S. request.
However the world’s second-biggest economic system would demand reciprocity. On June 2, Beijing bristled at Washington’s tighter grip on exports of chip design software program to China. However it seems that Washington can be in a conciliatory temper. “Our expectation is that … instantly after the handshake, any export controls from the U.S. will probably be eased,” Hassett stated on CNBC’s “Squawk Field.”
If the U.S.-China talks go nicely, there’s an opportunity the S&P 500, solely round 2% off its February excessive as of Tuesday morning Singapore time, may attain a brand new peak, famous the JPMorgan buying and selling desk.
That’d be one thing to cheer, in fact. But it surely’s barely upsetting to comprehend that the S&P may have continued scaling heights from February, or at the least damaged its closing excessive a lot earlier within the 12 months, if not for truculent commerce coverage from the White Home — which, as is obvious from the assembly between U.S. and China, governments now are nonetheless making an attempt to undo.
What you should know at the moment
U.S.-China talks set to enter Day 2
U.S. President Donald Trump’s high commerce officers met Chinese language counterparts in London on Monday for talks aimed toward resolving their commerce dispute — significantly with regard to mineral exports. Discussions are set to proceed Tuesday. Late final week, in an obvious olive department, China appeared to supply U.S. and European auto giants one thing of a reprieve concerning its exports of uncommon earth components.
Shares within the U.S. rose marginally
U.S. shares edged up Monday. The S&P 500 added 0.09%, the Dow Jones Industrial Common was principally flat, and the Nasdaq Composite rose 0.31%. Europe’s Stoxx 600 index dipped 0.07%. Shares of chip designer Alphawave jumped 20% on a takeover by U.S. semiconductor large Qualcomm, whereas Spectris soared 60% after confirming it’s in talks over a takeover cope with non-public fairness group Creation Worldwide.
A brand new ‘Liquid Glass’ search for Apple’s iOS
Apple held its annual Worldwide Builders Convention keynote on Monday. On the occasion, the corporate introduced a redesign to its iOS system referred to as “Liquid Glass,” a digital glass look that was impressed by the Imaginative and prescient Professional; real-time translation to calls, texts and FaceTime; new gaming, video and enterprise options for its augmented actuality gadget Imaginative and prescient Professional; a brand new model of its Mac working system, named Tahoe.
UK in a ‘Goldilocks’ second: Nvidia CEO
“The U.Ok. is in a Goldilocks circumstance,” Nvidia CEO Jensen Huang stated Monday on a panel with British Prime Minister Keir Starmer and Funding Minister Poppy Gustafsson. “You possibly can’t do machine studying with no machine — and so the flexibility to construct these AI supercomputers right here within the U.Ok. will naturally appeal to extra startups,” Huang stated, although he added that the nation lacks homegrown AI infrastructure.
[PRO] New document for S&P quickly?
The S&P 500 ticked greater on Monday and continues to chip away on the hole to a brand new document excessive. The broad-based index is simply 2% under its document shut set in February. A number of occasions within the days forward may show to be the catalyst that vaults it excessive, in line with the JPMorgan buying and selling desk.
And at last…
A Bitcoin cryptocurrency brand in Warsaw, Poland, on Wednesday, Could 7, 2025.
Damian Lemanski | Bloomberg | Getty Photographs
Didi Taihuttu, patriarch of the so-called Bitcoin Household, stated he overhauled the household’s complete safety setup after a wave of high-profile kidnappings concentrating on cryptocurrency executives.
The Taihuttus — who offered every thing they owned in 2017, from their home to their sneakers, to go all in on bitcoin when it was buying and selling round $900 — have lengthy lived on the outer fringe of crypto ideology. They journey full-time with their three daughters and stay totally unbanked.
Over the previous eight months, he stated, the household ditched {hardware} wallets in favor of a hybrid system: Half analog, half digital, with seed phrases encrypted, cut up and saved both by means of blockchain-based encryption providers or hidden throughout 4 continents.
