Stock markets and the dollar reacted cautiously to signs of progress in U.S.-China trade talks. Investors awaited more details on what was decided and whether it would last. Bond investors were also focused on U.S. inflation data and a Treasury auction. In London, negotiators from Washington and Beijing announced they had agreed on a trade framework to be taken back to their leaders. U.S. Commerce Secretary Howard Lutnick stated that the implementation plan should resolve restrictions on rare earths and magnets but offered no specifics. Despite limited details, markets were generally positive about the ongoing dialogue. However, skepticism remains regarding reaching a comprehensive trade agreement anytime soon. Investors responded cautiously, with S&P 500 futures and Nasdaq futures both down 0.3%. European bourses were similarly restrained. — new from Reuters
