By Katy Barnato

After the Trump administration's first-of-its-kind U.K. trade deal, investors await updates on coming talks with China.

U.S. and Chinese officials are set to meet this weekend, potentially paving the way for broader negotiations. Both sides have indicated the key objective for this meeting is to de-escalate tensions.

In the meantime, new data from China showed the early effect of the tariff assault-goods shipments to the U.S. fell 21% in April from a year earlier, while exports to Southeast Asia jumped.

The U.K. trade deal and hopes for the China talks fueled stocks Thursday. That rally may prove short-lived, with futures early Friday pointing to muted moves at the open.

Investors will be on watch for comments from several Federal Reserve policymakers-governors Michael Barr, Adriana Kugler, Christopher Waller and Lisa Cook. The Fed warned Wednesday that tariffs were raising the risks of both higher unemployment and inflation, and kept interest rates on hold.

In recent trading:

--Stock-index futures were muted. Pinterest and Expedia were among the big premarket movers.

--Treasury yields stabilized, after sharp gains Thursday.

--European stocks rose modestly, including the U.K.'s FTSE 100.

--Bitcoin extended Thursday's rally, which took prices above $100,000 for the first time since February.

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(END) Dow Jones Newswires

May 09, 2025 06:03 ET (10:03 GMT)

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