Outlook 05/12: Stock futures jump early Monday after the U.S. and China agreed to temporarily slash tariffs following negotiations over the weekend. U.S. Treasury Secretary Scott Bessent said on Monday that talks with China had been “very productive” and both countries had agreed to cut “reciprocal” tariffs by 115% for 90 days. That brings U.S. tariffs on Chinese goods down to 30%, and Chinese tariffs on U.S. imports to 10%. Bessent said on Monday that he expects to meet once again with representatives from Beijing in the “next few weeks” to iron out a bigger agreement. Investors this week will look for signs on how the trade tensions are impacting the economy. The consumer price index reading for April is due Tuesday morning, while retail sales and the producer price index are set for release on Thursday.
ESM25 (JUN2025): YVAH 5691 YPOC 5671 YVAL 5681 GAP 5679
/ES Plan: Last session market closed bearish, but Sunday's reopening looks strong bullish (PBT 5935), moving well above previous value/range, so these're the opening and initial balance options for current session:
