Global Markets See Uptick in Activity

The CNBC Daily Open article discusses the latest economic developments, including a lower-than-expected inflation rate in the US in April, which has reduced the threat of stagflation. The S&P 500 is up for 2025, and President Donald Trump's announcement to lift sanctions on Syria has been made. Microsoft is laying off 3% of its employees, while Coinbase shares have jumped due to its impending inclusion in the S&P 500. UBS Wealth has downgraded its rating on US stocks.

The stock market experienced a positive day on Tuesday, with the S&P 500 rising 0.72% and the Nasdaq Composite climbing 1.61% for its fifth straight positive session. The Dow fell 0.64%, weighed down by UnitedHealth. Stock futures were little changed overnight as investors reacted to the news that the U.S. and China announced a 90-day reduction on tariffs. Tech names were among the big winners, with Nvidia jumping more than 5% on news that it would send more than 18,000 of its artificial intelligence chips to Saudi Arabia. eToro priced its IPO at $52 a share, while Chime filed paperwork for an initial public offering. Robinhood reported a rise in customers and trading volume for April. American Eagle Outfitters fell nearly 15% after withdrawing its full-year guidance.

China and the US have agreed to a temporary truce in their trade war and have since signed major investment deals with other countries - China with Brazil and the US with countries in the Middle East. The deals aim to gain the upper hand in case tensions flare up again. China renewed a 190 billion yuan bilateral currency swap agreement with Brazil to boost local currency use and financial stability.