US equity futures are softer Thursday following two consecutive sessions of gains. European equity markets opened lower. Asian markets ended mixed. The US-China trade narrative continued to evolve with reports the White House is considering cutting China tariffs by more than 50%. Trump reiterated that a deal would bring substantial reductions, though not elimination of tariffs. Treasury Secretary Bessent emphasized any rollback would be conditional and that a full trade agreement could take 2–3 years. Separate trade talks with Japan, Vietnam, and South Korea continued. In earnings, TSLA’s results were weak but in line with expectations, with Musk pledging to shift focus from DOGE in May. On policy, Fed Chair Powell's position appeared secure following Trump’s comments, while the Fed’s Beige Book cited stable activity but highlighted tariff-driven uncertainty.

Companies mentioned: WW International, Columbia Banking System, Pacific Premier Bancorp, Ford, General Motors, Tesla