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US-China trade deal stabilizes European indices and oil prices
The recent announcement of the US-China trade deal has helped European stock markets kick off the week on a positive note. Since May 12, Germany's DAX has gained 0.54%, France's CAC 40 has risen by 1.52%, and the UK's FTSE 100 has surged 0.59%.
Oil prices also held near a two-week high on Tuesday. As of May 12, Brent crude has climbed by 2.14%, reaching $65.26 per barrel, while WTI crude has seen an increase of 1.64% to $62 per barrel.
On Monday, the United States and China agreed to implement significant reciprocal tariff cuts for at least 90 days. However, global uncertainty remains as the key issues that sparked the disputes, including the American trade deficit with China, have yet to be addressed.
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