US Equities Markets End Higher Thursday as US Reaches Trade Agreement With UK

MT Newswires Live
5 hours ago

US benchmark equity indexes ended higher Thursday as President Donald Trump announced a trade deal with the UK and said pacts with other countries would follow.

* As part of its UK deal, the US will raise $6 billion in external revenue from 10% tariffs, $5 billion in "new export opportunities while creating an aluminum and steel trading zone, and a "secure" pharmaceutical supply chain, Trump said in a social media post. "Many more (deals) to come."

* US consumers' inflation expectations last month rose over the medium term and fell over the long term, a survey by the Federal Reserve Bank of New York showed.

* "Labor market expectations largely deteriorated in April," the Fed branch said. "Households also expect lower income growth over the next year, and their perceptions about both their current financial situation and their outlook for their financial situation one year from now deteriorated sharply."

* June West Texas Intermediate crude oil closed up $1.86 to settle at $59.93 per barrel, while July Brent crude, the global benchmark, was last seen up $1.74 to $62.88 amid speculation that trade tensions may ebb between the US and China.

* Axon Enterprise (AXON) reported Q1 non-GAAP earnings and revenue late Wednesday that beat market expectations. The shares surged 14%.

* Arm Holdings (ARM) US-listed shares fell 6.2%. The British semiconductor manufacturer late Wednesday issued a fiscal Q1 earnings outlook below market estimates.

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