US inflation accelerated to 3.8% in April — the highest reading in three years — as the conflict in Iran pushed fuel costs higher, adding pressure on global markets and complicating policy calculations for central banks.
President Trump arrived in Beijing today for a two‑day visit flanked by senior business executives, including Apple’s Tim Cook, Tesla’s Elon Musk and Nvidia’s Jensen Huang, underscoring the commercial significance of the summit alongside its diplomatic agenda.
The Xi–Trump talks will be watched closely worldwide, with trade, technology, Taiwan and the Iran war expected to dominate discussions and shape market sentiment.
Economic strains were also visible in Europe: France’s unemployment rate ticked above 8% for the first time since 2021, highlighting uneven recovery dynamics across the bloc.
In industry news, Bloomberg reports that BTD is in talks with Stellantis and other parties to take over European car plants, a deal that could reshape auto manufacturing footprint on the continent.
Corporate results and outlooks are also in focus. Cisco, Siemens, Tencent and Alibaba report earnings today, while Morgan Stanley says China’s profit outlook for 2Q26 is set to improve further after encouraging signs in 1Q26.
Market moves were muted: European stocks traded flat, Japan and Hong Kong advanced about 1%, and US futures pointed to a modestly higher open. Oil was steady with Brent near $108 a barrel.
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