Bank of England chief economist Peel: Tariffs will have a drag on economic activity and inflation.

1. Angry at Powell --Trump told reporters that if the Federal Reserve is willing to cut interest rates, it will have a "jet fuel-like" boost to the U.S. economy, but Fed Chairman Powell refused to cut interest rates, probably because "he doesn't love me." Trump also previously called Powell "Mr. Too Late" and a fool. 2. Reach a trade agreement with the UK -Trump announced the trade agreement with the UK, saying that "this agreement includes billions of dollars in additional market access for U.S. exports, especially in agriculture, greatly increasing market access for American beef, ethanol and almost all products produced by our great farmers." 3. Better buy stocks now--The United States and the United Kingdom have reached a new trade agreement that partially eliminates tariffs on some goods on both sides. Trump said that if the trade agreement and tax cuts are realized, "you'd better buy stocks now." 4. Seek to increase taxes on the rich -Sources said that Trump's proposal requires the establishment of a new tax bracket of 39.6% for individuals with an annual income of at least $2.5 million or couples with an income of $5 million. If approved by Congress, it would bring the top tax rate to where it was before Trump's 2017 tax cuts. 5. Call for an unconditional 30-day ceasefire between Russia and Ukraine - Trump called on Russia and Ukraine on Thursday for an unconditional 30-day ceasefire, warning that if the ceasefire is not observed, the United States and its partners will impose further sanctions. 6. Looking forward to meeting the new pope --US President Trump: Congratulations to Cardinal Robert Francis Prevost on his appointment as pope. He is the first American pope, a great honor for our country. Looking forward to meeting Pope Leo XIV. 7. Private meeting with Netanyahu adviser - According to two sources, Trump met with Israeli Strategic Affairs Minister Ron Dermer, a close confidant of Israeli Prime Minister Netanyahu, yesterday to discuss nuclear negotiations with Iran and the Gaza conflict.

When the U.S. stock market opened, the Dow Jones Industrial Average rose 0.19%, the S&P 500 rose 0.35%, and the Nasdaq rose 0.58%. Popular Chinese stocks were mixed, with TSMC (TSM.N) opening up 2.9%, Alibaba (BABA.N) up 1.02%, Pinduoduo (PDD.O) up 0.16%, and Li Auto (LI.O) and Xpeng Motors (XPEV.N) down about 1%.