U.S.-China Trade Talks Boost Equity ETFs as Trump Proposes Earnings Reform
The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) closed higher amid Optimism from U.S.-China trade discussions in Madrid. President Trump signaled progress in negotiations, noting plans for a Friday call with Xi Jinping. Treasury Secretary Bessent confirmed a preliminary TikTok deal framework ahead of its September 17 ban deadline, alongside hints of another tariff pause extension.
Market attention now shifts to the September FOMC meeting, with traders weighing macroeconomic implications. Separately, Trump's proposal to shift corporate earnings reporting from quarterly to biannual sparked debate. The controversial plan—requiring SEC approval—aims to align U.S. companies with China's long-term management approach, though critics warn of reduced market transparency.
