P.M. Edition for May 12. U.S. stocks rallied today—with the Nasdaq entering a bull market, closing 20% above its April low—after the U.S. and China agreed to temporarily unwind most of the tariffs they have imposed on each other’s goods since April. Plus, President Trump signs an executive order intended to lower U.S. drug prices. WSJ White House correspondent Natalie Andrews joins to discuss the order and what it means for consumers. And the retail-property market, which had bounced back after the pandemic, is starting to fall flat. Kate King, who covers real estate for the Journal, talks about why that is and what it means for the broader state of the retail industry. Alex Ossola hosts.

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