From Yahoo Finance: 2025-05-09 12:01:00

The major averages surged on trade optimism and lower jobless claims. Trump announced a new trade deal with Britain and aims for deals with Europe and China. Bank of England cut rates, leading Trump to criticize Fed Chair Powell. Gold prices fall, oil rises on trade hopes.

Sarepta downgraded by Evercore ISI, Uber downgraded by Wedbush, Mosaic upgraded by RBC Capital, ADM downgraded by BofA, Centessa initiated with bullish view at Chardan. Warner Bros. Discovery misses Q1 consensus, Tapestry raises FY25 guidance, Zillow surpasses Q1 expectations, Peloton reports Q3 results.

Alibaba partners with RedNote, Baidu files animal vocalization patent, Tesla’s “Robotaxi” trademark refused, Nestle selects Rothschild for water division sale, Nvidia CEO warns of loss in China’s AI market. Dow up 1.35%, Nasdaq up 1.73%, S&P 500 up 1.32% near midday. Source: TheFly.

Read more: Trump announces trade deal, BoE lowers Bank Rate: Morning Buzz