"Optimism in U.S.-China Trade Deal Spurs Global Market Rally, Bitcoin (BTC) Steady at 96K"

# Global Markets Surge as U.S.-China Trade Optimism Grows; Bitcoin Reaches $97,000 Global markets experienced a rally fueled by renewed hopes for U.S.-China trade negotiations. Bitcoin (BTC) briefly surged to $97,000, echoing the positive sentiment across various asset classes. Leading indices continued a bullish run ahead of the highly anticipated U.S. April employment report, bolstering investor confidence. ## European and U.S. Markets Extend Gains As per Bloomberg reports on May 2, Europe's Stoxx 600 index rose 0.9%, achieving its ninth consecutive session of gains—the longest streak in a year. Meanwhile, S&P 500 futures in the U.S. advanced, extending an eight-session winning streak, the longest since August last year. Analysts suggest that the forthcoming U.S. employment data, set for release at 8:30 a.m. local time in New York (9:30 p.m. Seoul time), will be crucial in evaluating the economic effects of ongoing trade tensions. ## Rising Expectations for Federal Reserve Rate Cuts Anticipation for Federal Reserve rate cuts is mounting. Financial markets have already factored in the likelihood of four rate cuts this year, up from the three cuts expected before President Donald Trump's higher tariffs announcement on April 2. Kevin Thozet, a member of the investment committee at Paris-based Carmignac, stated, “We appear to have reached peak policy uncertainty. With President Trump moderating some policies, negotiations are now in progress.” ## Apple and Amazon Stocks Decline Amid Mixed Trade Sentiments Apple's stock dropped 2.6% in premarket trading, reflecting a more significant than expected decline in Chinese sales. Similarly, Amazon fell 2% as its operating income forecast was below expectations. Conversely, Asian markets rose 1.6% after senior U.S. officials indicated readiness to resume talks with China, which also showed a willingness to reciprocate. China’s Ministry of Commerce reiterated its stance, urging the U.S. to adopt a “responsible attitude” and remove tariffs for further negotiations. President Trump, however, insisted talks would only continue if Chinese President Xi Jinping initiated direct communication. ## Currency and Commodity Markets React Key financial assets mirrored the optimism in global equity markets. Bloomberg’s Dollar Index decreased by 0.4%, while the euro appreciated by 0.3% to $1.1324, and the Japanese yen gained 0.2% to 145.12 yen per dollar. The South Korean won strengthened temporarily, with the USDKRW exchange rate dipping below the critical 1,400 level. Bitcoin increased by 1.1% in the last 24 hours to $96,804, while Ethereum (ETH) climbed 0.2% to $1,824. In the bond market, the U.S. 10-year Treasury yield fell by 1 basis point to 4.21%. German and U.K. 10-year yields stabilized at 2.47% and 4.43%, respectively. Meanwhile, Brent crude increased by 0.2% to $62.27 per barrel, and spot gold rose 0.6% to $3,258.55 per ounce. Market participants remain vigilant as U.S.-China trade dynamics evolve and impact global fiscal and monetary policies.