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In just 2 days of talks, the U.S. & China have made what Bessent called “substantial progress.” Consequently, the White House has released a PR saying a deal has been reached, & they’ll share more details on Monday.

Polymarket odds of a trade deal before July now stand at 88% https://t.co/Zpqw8mg0jH
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U.S. President Trump: My next TRUTH will be one of the most important and impactful I have ever issued. 👀 https://t.co/G6sK48SBfR
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China’s 🇨🇳 Vice Premier He Lifeng says the U.S. 🇺🇸 and China have had “constructive” trade talks, made “substantive progress,” and reached “important consensus.” Both sides will issue a joint statement on May 12 and will establish a formal consultation mechanism going forward.
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What's your prediction for the S&P 500 tomorrow (Monday)?
- UP < 2%
- UP > 2%+
- DOWN > 2%+
- DOWN < 2%
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Here’s an early look at U.S. index futures as markets wait for more details on the U.S.-China deal, along with a likely "Earth-shattering" announcement from Trump—probably via Truth Social post. https://t.co/CtnQU1FP9v
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Lilly’s $LLY Zepbound outperformed $NVOs's Wegovy in the full SURMOUNT-5 trial, delivering 47% greater weight loss (20.2% vs 13.7%) and sharper waist reduction. https://t.co/1nvDJ2axbu
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TRUMP: Prescription drug prices in the U.S. will be cut 30–80% under a new executive order to be signed tomorrow. Plan includes a "Most Favored Nation" rule—tying U.S. drug prices to the lowest globally. Trump says it’ll bring fairness, cut costs, and save trillions. https://t.co/C6kMBJLJvw
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Today's Key Events (All EST) — 05/12/2025

03:00: Treasury Sec. Bessent Briefs on China Talks
10:25: Fed's Kugler Speaks
14:00: US Federal Budget Balance

Before Open 👇
Before Open: Fox Corporation $FOXA
Before Open: Chegg Inc. $CHGG
07:00: monday. com Ltd. $MNDY
08:00: 21St Century Fox Class B $FOX

After Hours 👇
16:00: Archer Aviation Inc $ACHR
16:00: Hertz Global Holdings, Inc. $HTZ
16:00: iHeartMedia $IHRT
16:00: Arrowhead Pharmaceuticals $ARWR
16:05: DaVita Inc. $DVA
16:05: Simon Property Group $SPG
16:05: $PLUG
16:05: GoPro, Inc. $GPRO
16:10: Coherus Biosciences, Inc. $CHRS
17:00: Microvast Holdings, Inc. $MVST
After Close: Petroleo Brasileiro SA Petrobras $PBR
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U.S. TREASURY SECRETARY BESSENT IS SET TO GIVE A BRIEFING ON THE CHINA TRADE TALKS AT 3 A.M. EST IN GENEVA, ACCORDING TO A U.S. OFFICIAL.
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US TO CUT TARIFFS ON CHINESE GOODS TO 30% FROM 145% FOR 90 DAYS

CHINA TO LOWER TARIFFS ON US GOODS TO 10% FROM 125% FOR 90 DAYS: BBG
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BESSENT SAYS NEITHER US NOR CHINA WANT TO DECOUPLE
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BESSENT SAYS US SEES POSSIBILITY OF CHINA PURCHASING AGREEMENTS
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The U.S. and China have issued a JOINT STATEMENT from Geneva confirming a 90-day tariff truce. The U.S. will lower tariffs on Chinese goods from 145% to 30%, while China will cut tariffs on U.S. goods from 125% to 10%. A new consultation mechanism will keep talks going. Bessent says neither side wants a decoupling, and the U.S. will maintain a 10% base tariff plus a 20% fentanyl-related levy.
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US TREASURY SECRETARY BESSENT: WE'LL PASS 'ONE BIG BEAUTIFUL BILL' BY MID-SUMMER
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