June S&P 500 E-Mini futures (ESM25) are trending down -0.14% this morning after the U.S. and China agreed on a framework to ease trade tensions, but investors were left disappointed by the lack of details, with the focus now shifting to the release of key U.S. inflation data.
Representatives from the countries said the framework would effectively reinstate a pact they reached in Switzerland last month, a deal in which both sides reduced tariffs and which was partly based on Beijing’s pledge to speed up critical mineral-export licenses while the negotiations continue. Little detail from the talks was disclosed, but U.S. negotiators said they “absolutely expect” that issues concerning shipments of rare earth minerals and magnets will be resolved through the framework’s implementation.
