Key takeaways:
- The U.S. and China agreed to a temporary 90-day suspension of new tariffs, easing trade tensions.
- Global indices posted strong gains, led by major tech stocks and broad investor optimism.
- Bitcoin rebounded to $102,632 after dipping below $101K late Monday; XRP rose to $2.4, while SOL declined to $170.
- Oil prices slipped 22 cents despite bullish sentiment in equity markets, with Brent Crude down to $64.74.
Global markets rallied on Tuesday, May 13, after the United States and China announced a 90-day pause on new tariffs.
The temporary truce eased investor fears of escalating trade tensions, boosting equities, while commodities and cryptocurrencies showed more measured responses.
Cryptocurrency Market: Volatile Response as Bitcoin Reclaims $102K
Cryptocurrencies exhibited a mixed response to the U.S.-China tariff truce.
Bitcoin (BTC) briefly dipped into the $100,000–$101,000 range before rebounding to $102,632, reflecting cautious investor sentiment, while Ethereum (ETH) declined 2.01% to $2,457.37.
Altcoins displayed varied performances; notably, XRP rose to $2.48, peaking at $2.62, indicating selective investor interest across the digital asset market, while Solana (SOL) fell to $170.11, suggesting a potential reversal of its previous uptrend.
Global Indices: Broad Gains Across Major Markets
- S&P 500: +3.3% to 5,844.19
- Dow Jones Industrial Average: +2.8% to 42,410.10
- Nasdaq Composite: +4.3% to 18,708.34
- FTSE 100: 8,604.98
- Nikkei 225: +1.8% to 38,326.37
- Euronext 100: 1,582.77
Investor optimism was fueled by the temporary easing of trade tensions between the U.S. and China, leading to significant gains across major indices.
Commodities: Oil and Gold React to Market Developments
- Brent Crude: Down 22 cents to $64.74 per barrel
- WTI Crude: Down 18 cents to $61.77 per barrel
- Gold: Trading sideways at $3,255
Oil prices declined slightly as market focus shifted to concerns over rising global supply, despite the generally positive sentiment from the tariff pause.
Stocks: Tech Sector Leads Gains
Among individual stocks, tech giant companies led gains.
Amazon (AMZN) rose to 208,64, while Tesla (TSLA) climbed to 318,38.
Similarly, Meta Platforms (META) advanced to $639.43, while Nvidia (NVDA) rose to $123.
Market Wrap-Up: Cautious Optimism Prevails
Global markets, especially equities, have seen renewed optimism following the U.S.-China tariff truce.
Despite this positive sentiment, slight drops in oil and cryptocurrency prices indicate investor caution persists due to potential volatility and ongoing geopolitical uncertainties.
Read More: Bybit & Ghaf Labs Partner to Accelerate Web3 Growth in MENA
All content provided here is for informational purposes only and does not constitute financial or trading advice. Trading involves risk and may result in financial loss. We strongly recommend consulting a licensed advisor before making any investment decisions.
