Overview

• The U.S. and China agreed to a 90-day tariff pause, temporarily reducing reciprocal duties, which has bolstered investor sentiment globally.
• U.S. inflation slowed to 2.3% in April, its lowest level since 2021, alleviating concerns about economic stagnation and influencing Federal Reserve policy expectations.
• The S&P 500 has regained its year-to-date gains for the first time since February, supported by strong performances in tech stocks, particularly Nvidia and other chipmakers.
• In India, the Sensex fell 1.5% on profit booking after a record rally, but mid-cap and small-cap stocks outperformed, with gains of 1.19% and 1.63%, respectively.
• Asian and European markets showed mixed results, reflecting cautious optimism over the U.S.-China trade truce and ongoing geopolitical and economic uncertainties.