Apple has a strategy to avoid President Trump’s steep prices on China: make more of his iPhones in India. One source told Reuters that the technology giant is organizing urgent discussions with manufacturers Foxconn and Tata in order to produce most of its Iphones linked to the United States in India by the end of 2026.
American actions have closed above, with the Blue Chip Dow indices and the large S&P 500 indices marking their ninth day of consecutive winnings, on China news can be open to commercial talks with the United States
China explores the means to respond to American concerns on the role of the Asian nation in the fentanyl crisis, perhaps opening the door to talks, According to the Wall Street Journal.
Chinexi Jinpingssecurity Czar leaders, Wang Xiaohong, heard what Trump administration wants China to do with the chemical ingredients used to make fentanyl but noted discussions remain fluid, said WSJ, citing sources. China would also have wanted to see a relaxation of President Donald Trump’s position against China.
The DOW advanced 1.39%, or 564.47 points, to 41,317.43, the S&P 500 added 1.47%, or 82,53 points, to 5,686.67; And the Nasdaq, heavy in technology, won 1.51%, or 266.99 points, at 17,977.73. The reference yield at 10 years reached 4.308%. Nine consecutive days of victories are the longest sequence in the S&P 500 in 20 years.
The three clues ended higher for the second consecutive week. The S&P 500 and the Nasdaq have both recovered all their losses related to the price since April 2, the day Trump announced its aggressive price plan.
Earlier, China also hinted in a declaration its tariff talks who envisage with the United States and discreetly exempt a quarter of American products imported from prices, Bloomberg reported.
The United States has recently sent messages to China through parties concerned, hoping to start talks with China, the ChinaS Ministry of Commerce said on Friday stadium. China is currently evaluating this.
All of this reports a pivot for a possible thaw in American-Chinese relations after Trump increased rates up to 145% and Beijing retaliated. During last week, Trump insisted that the United States was in talks with China on prices, but China vehemently denied. China had sworn earlier to “fight until the end” against Trump’s steep prices.
In addition, China has exempted approximately 131 products which probably cover around $ 40 billion in imports, in what looks like an effort to soften the trade war against its own economy, Bloomberg reported. Exempted products include pharmaceutical products and industrial chemicals. It was not officially confirmed, but at least half a dozen companies in China have been able to bring goods from the list without paying prices, said Bloomberg, citing sources.
The job market is ok
Investors who were worried about the labor market who feared under federal layoffs and mass rates slowing investments found a certain relief on Friday morning in the monthly job report. The economy added 177,000 jobs in April, easily exceeding 135,000 average forecasts, according to Factst. The unemployment rate remained at 4.2%.
No signs of pricing stress on the job market, but strong hiring and stable wages, said Jamie Cox, director of Harris Financial Group. If you are going to embark on a trade war and your economy is based on consumption, this is the lever effect you want.
Cryptocurrency
Microstrategy has increased its Bitcoin yield objective at 25%, compared to 15% and announced a balance sheet of $ 21 billion to buy more bitcoin even after announcing disappointing quarterly results due to the recent drop in Bitcoin prices.
Bitcoin increased by 0.54% to 97,013.07 $.
This story has been updated with new information.
Medora Lee is a money journalist, markets and personal finances in USA Today. You can reach it at [email protected] andSubscribe to our Newsletter Freedaily MoneyFor personal finance advice and commercial news every Monday to Friday.