Nasdaq Enters Bull Market After U.S.-China Temporarily Slash Tariffs

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 12 May 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for May 12. U.S. stocks rallied today—with the Nasdaq entering a bull market, closing 20% above its April low—after the U.S. and China agreed to temporarily unwind most of the tariffs they have imposed on each other’s goods since April. Plus, President Trump signs an executive order intended to lower U.S. drug prices. WSJ White House correspondent Natalie Andrews joins to discuss the order and what it means for consumers. And the retail-property market, which had bounced back after the pandemic, is starting to fall flat. Kate King, who covers real estate for the Journal, talks about why that is and what it means for the broader state of the retail industry. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The NASDAQ enters a new bull market and U.S. stocks soar after a major thaw in U.S.-China trade relations.
0:11.0	Plus, President Trump signs an executive order aimed at lowering drug prices.
0:16.2	Consumers are not going to see anything right away, But it is putting a process into play behind the scenes
0:21.9	of telling the U.S. Trade Representative and the Commerce Department to look at any unreasonable
0:28.3	and discriminatory practices in foreign countries. And why the retail property market isn't
0:33.9	looking great for the rest of 2025. It's Monday, May 12th.
0:38.8	I'm Alex Osala for the Wall Street Journal.
0:41.2	This is the PM edition of What's News,
0:43.5	the top headlines and business stories that move the world today.
0:48.6	The Treasury said the U.S. collected over $16 billion in customs duties in April.
0:57.3	That's $7.6 billion more than in the previous month, as revenue from tariffs accelerated sharply. U.S. stocks rallied after the U.S.
1:03.8	and China announced that they have agreed to temporarily slash tariffs on each other's goods.
1:09.4	Shares of companies that had been punished by the trade war, such as Amazon, Apple, and Tesla
1:14.2	advanced.
1:15.6	The dollar jumped, bond yields rose, and investors scaled back bets on Federal Reserve rate cuts.
1:22.9	In the end, major U.S. indexes closed higher.
1:26.6	The tech-heavy NASDAQ climbed 4.3%.
1:29.5	It entered a new bull market by closing more than 20% above its April low.
1:35.3	The S&P 500 rose 3.5%.
1:38.3	And the Dow ended the day 2.8% higher.
1:43.8	So what did the U.S. and China agree to that made investors happy? As we mentioned in our
1:49.4	morning show, the U.S. will lower tariffs of 145% on Chinese goods to 30%. Within that framework, Washington
	...

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