U.S-China Trade

☀️Good morning. It's Monday, May. 12, and we're covering, Stocks And Dollar Climb As U.S.-China Trade Optimism Grows, OpenAI, Microsoft Renegotiating Terms As ChatGPT Maker Eyes IPO, Trump’s Administration Considers Accepting Luxury Boeing 747-8 From Qatar, and much more. First time reading? Sign up to get this newsletter: Sign up here.

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $3.49 Trillion, a 0.2% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $148.44B, which makes a 1.28% increase.

• The total volume in Defi is currently $25.83B, 18.26% of the total crypto market 24-hours.

• The volume of all stablecoins is now $130.97B, which is 92.60% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 61.63%, an increase of 0.56% over the day.

BUSINESS & FINANCE

Stocks And Dollar Climb As U.S.-China Trade Optimism Grows

Global markets rose on Monday as hopes for progress in U.S.-China trade talks lifted investor sentiment, despite a lack of concrete details. Wall Street futures climbed, and the dollar strengthened against safe-haven currencies. U.S. and Chinese officials both signaled “substantial progress” and agreed to continue economic dialogue, though they made no mention of tariff reductions. Meanwhile, geopolitical tensions eased slightly in Ukraine and between India and Pakistan.

Why It Matters: Even without concrete tariff rollbacks, signs of cooperation can boost investor confidence, stabilize markets, and support economic growth. It also impacts global supply chains, inflation trends, and central bank decisions—especially the Federal Reserve’s stance on interest rates. (Read Deeper)

Asian Pharma Stocks Slide As Trump Vows Major U.S. Drug Price Cuts

Asian pharmaceutical stocks tumbled on Monday after U.S. President Donald Trump announced plans to sign an executive order aimed at slashing U.S. prescription drug prices to match the lowest prices abroad. Major drugmakers in Japan, South Korea, India, and Hong Kong saw sharp losses, with companies like Chugai, Daiichi Sankyo, BeiGene, and Sun Pharma among the hardest hit. Analysts say the impact could be “enormous” if Medicare and Medicaid pricing are affected.

Why It Matters: Pharma investors across Asia saw billions wiped out in market value due to fears of U.S. revenue erosion. Asian drugmakers are deeply intertwined with the U.S. market—pricing policy changes in Washington ripple worldwide. While legally questionable and potentially limited in scope, Trump’s move signals renewed political pressure on drug pricing. (Read Deeper)

TECHNOLOGY & SCIENCE

OpenAI, Microsoft Renegotiating Terms As ChatGPT Maker Eyes IPO

OpenAI and Microsoft are renegotiating their multibillion-dollar partnership to make way for a potential future IPO of OpenAI, according to the Financial Times. A central issue is how much equity Microsoft will retain after investing over $13 billion. Microsoft is reportedly willing to reduce its stake in exchange for continued access to OpenAI’s cutting-edge AI technologies beyond 2030. The revised terms could reshape how both companies benefit from their collaboration as OpenAI evolves into a more traditional for-profit structure.

Takeaways: OpenAI is restructuring its relationship with Microsoft to enable a future public offering. OpenAI has reportedly told investors it will share a smaller portion of revenue with Microsoft going forward. The talks come as Microsoft expands its AI infrastructure through a joint venture with Oracle and SoftBank. (Read Deeper)

Whoop Walks Back Controversial Upgrade Policy After Customer Backlash

Fitness tracker company Whoop faced backlash after announcing a new upgrade policy for its Whoop 5.0 device. Initially, users had to either extend their subscription or pay an upgrade fee, despite prior claims that long-time members would get free hardware upgrades. After criticism, Whoop revised the policy: users with more than 12 months remaining on their subscriptions now qualify for a free upgrade, and those with less time can extend their plan to qualify.

Why It Matters: This kind of situation highlights the growing tension between subscription-based business models and customer trust. Whoop’s reputation for offering premium service through costly memberships is now under scrutiny, especially as users question the integrity of its promises. (Read Deeper)

AROUND DE WORLD & POLITICS

Trump’s Administration Considers Accepting Luxury Boeing 747-8 From Qatar

President Donald Trump’s administration is considering accepting a luxury Boeing 747-8 jet from Qatar’s royal family to temporarily replace the aging Air Force One. The gift, which could be one of the most valuable ever received from a foreign government, is tied to Trump’s dissatisfaction with Boeing’s delays in delivering new Air Force One jets. Despite initial reports suggesting the jet would be a gift, Qatar later clarified that no decision had been made. Critics, including Rep. Ritchie Torres, have raised concerns about the ethics of such a gift, especially considering Qatar's ties to Hamas and the potential violation of U.S. law prohibiting gifts from foreign governments without congressional approval.

Why It Matters: This proposed jet transfer raises significant ethical and constitutional concerns, including possible violations of the Emoluments Clause, which bars U.S. officials from accepting gifts from foreign governments without congressional approval. (Read Deeper)

Zelensky Challenges Putin’s Peace Talks Offer Amid Ceasefire Dispute

Ukrainian President Volodymyr Zelensky has responded to Russian President Vladimir Putin’s proposal for direct peace talks by stating he is willing to meet in Turkey this week, but only if Russia first agrees to an unconditional ceasefire. This comes after Russia ignored an ultimatum from Ukraine and its European allies, which called for a 30-day ceasefire by Monday or face further sanctions. Despite this, Putin offered direct talks with Ukraine without any preconditions.

Takeaways: Zelensky is open to peace talks but insists on a ceasefire as a prerequisite for any negotiations. U.S. President Trump has urged Ukraine to engage in direct talks with Russia without preconditions, contradicting the stance of Ukraine’s European allies. Turkey, which has offered to host the talks, has expressed that a ceasefire should precede any meaningful negotiations. (Read Deeper)

ENTERTAINMENT & SPORTS

Barcelona Edges Real Madrid In 7-Goal El Clásico Classic

Barcelona edged out Real Madrid in a thrilling 4–3 victory in El Clásico, overcoming a hat trick from Kylian Mbappé. Despite Madrid’s early lead, Barcelona surged back with goals from Eric Garcia, 17-year-old sensation Lamine Yamal, and a brace from Raphinha. The win marked Barça’s fourth over their rivals this season and puts them on the brink of clinching the La Liga title. (Read Deeper)

Christopher Schwarzenegger Opens Up About 5-Year Weight Loss Journey

Christopher Schwarzenegger, the 27-year-old son of Arnold Schwarzenegger and Maria Shriver, opened up for the first time about his dramatic weight loss at the Beacher Vitality Happy & Healthy Summit on May 10, 2025. He revealed that the transformation took over five years of effort, beginning in 2019 when he realized his weight was limiting everyday activities, like skydiving—while living in Australia. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• China's transformation from a subjugated nation in the 19th century to a global superpower is a remarkable journey marked by resilience, strategic reforms, and visionary leadership. (Listen)

EXTRA BREVITI

• As AI and robotics advance, Amazon is offering a glimpse into how human jobs might evolve rather than vanish. (Read More)

• The U.S. and China have agreed to a temporary deal to reduce tariffs, marking a major step toward de-escalation. (Read More)