BlockBeats News, May 12th. The most anticipated Wall Street event, the high-level China-US economic and trade talks, took place in Geneva, Switzerland on May 10th to 11th. Subsequently, the high-level officials from China and the US announced that the talks had made substantial progress. Boosted by this news, US stock futures surged across the board on Sunday night, with Dow futures, S&P 500 futures, and Nasdaq futures all rising by over 1%. Meanwhile, the US and the UK reached a trade agreement framework on May 8th, which President Trump described as "groundbreaking," as the agreement will reduce tariff barriers and expand market access.

This double positive news stimulated market sentiment. The three major US stock indices ended a three-week decline, and Bitcoin soared by over 6% in a single day, breaking through the $100,000 mark. US Commerce Secretary Rutenick emphasized that the 10% benchmark tariff on multiple countries will remain unchanged in the "short term," but the US-UK agreement may serve as a reference for future trade negotiations. Analysts point out that although the details of the agreement still need to be refined, the market's optimistic expectations for global economic recovery and easing trade tensions have significantly warmed up, and risk assets may continue to be strong in the short term.

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