Wall Street awaits US-China trade meeting with market holding steady

From Yahoo Finance: 2025-05-09 00:55:00

U.S. stocks ended a quiet week with the S&P 500 slipping 0.1% and the Dow Jones down 0.3%. High-level U.S. and Chinese officials are set to meet in Switzerland Saturday for trade talks. Trump floated reducing Chinese import tariffs to 80%, causing a brief market jolt. Markets await officials’ statements post-meeting.

Expedia reported stronger-than-expected profits but sank 7.3% due to weaker demand. Sweetgreen also reported larger losses than expected, causing a 16.2% drop. Lyft saw a 28.1% rally after delivering strong profits. Taiwan Semiconductor’s revenue leaped 48.1%. Insulet saw a 20.9% gain after strong quarterly results.

S&P 500 closed down 4.03 points, Dow Jones fell 119.07, and Nasdaq rose 0.78. European indexes rose while Asian markets were mixed. China reported an 8.1% rise in exports, with exports to the U.S. dropping over 20% due to tariff increases. 10-year Treasury yield edged up to 4.38%.



Read more at Yahoo Finance: Wall Street and other markets hold steady ahead of a highly anticipated US-China meeting on trade