US markets keep the trade thaw as their anchor, with Washington and Beijing agreeing to tariff cuts on $30 billion in goods plus a new AI dialogue channel following the summit. Oil
US markets keep the trade thaw as their anchor, with Washington and Beijing agreeing to tariff cuts on $30 billion in goods plus a new AI dialogue channel following the summit. Oil stays the swing factor, as Trump rejected Iran's seven-day ceasefire proposal on the Strait of Hormuz, leaving energy tied to diplomacy rather than resolution. Meanwhile, mortgage rates back at 7% are strengthening the lock-in effect, and hiring is still expected to show a healthy labor market, keeping borrowing costs sticky.
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