BiyaPay Analyst: Breakthrough in China-US Trade Talks, Boost from US-UK Agreement Lifts Market, US Stock Futures and Bitcoin Soar

May 12th. The most anticipated event on Wall Street, the high-level China-US economic and trade talks, took place in Geneva, Switzerland from May 10th to 11th. Subsequently, the high-level officials from China and the US announced that significant progress had been made during the talks. Driven by this news, US stock futures rose across the board on Sunday night. Dow futures, S&P 500 futures, and Nasdaq futures all increased by more than 1%. Meanwhile, the US and the UK reached a trade agreement framework on May 8th. President Trump described it as "groundbreaking" as the agreement will reduce tariff barriers and expand market access. This double positive news stimulated market sentiment. The three major US stock indices ended a three-week decline. Bitcoin soared by more than 6% in a single day and broke through the $100,000 mark. US Commerce Secretary Rutenick emphasized that the 10% benchmark tariff on multiple countries will remain unchanged in the "short term." However, the US-UK agreement may serve as a reference for future trade negotiations. Analysts pointed out that although the details of the agreement still need to be refined, the market's optimistic expectations for global economic recovery and the easing of trade tensions have significantly warmed up, and risk assets may continue to be strong in the short term. BiyaPay, as the world's first multi-asset trading wallet, showcases unique value. It has now connected 30 fiat currencies with 200 digital currencies for instant exchange. Users can directly participate in the US stock/Hong Kong stock market by exchanging USD for USDT at a 1:1 ratio and enjoy zero fees for digital currency spot/contract trades as a Maker.