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Positive rhetoric from the Trump-Xi summit in Beijing is buoying equity markets, while the MAG7 continues to lead performance on the back of the AI narrative. Focus shifts to UK GDP and US Retail Sales data today.

Key Takeaways

• 1.US-China relations saw a positive shift during talks in Beijing, with President Trump stating the relationship will be 'better than ever' and Xi Jinping emphasizing partnership over rivalry.
• 2.The Magnificent Seven (MAG7) technology stocks continue to drive equity markets, outperforming the rest of the S&P 500 by 15% since late March due to renewed interest in AI and supply chain bottlenecks.
• 3.Bank of Japan board member Masu called for interest rate increases as soon as possible, signaling a hawkish shift despite recent bond market volatility.

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• Best of Wire
• In Focus
• What happened in markets?
• Top of mind
• Elsewhere
• Charts
• Major Releases Ahead

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