logo
Eileen Gu Is Joining Shaun White's Snow League As Global Ambassador

Eileen Gu Is Joining Shaun White's Snow League As Global Ambassador

Forbesa day ago

Eileen Gu of Team China reacts after winning the gold medal during the Women's Freestyle Freeski ... More Halfpipe Final on Day 14 of the Beijing 2022 Winter Olympics at Genting Snow Park on February 18, 2022 in Zhangjiakou, China.
Shaun White's professional snowboarding and freeskiing competition, The Snow League, debuted this year with a host of big-name sponsors and backers. White's venture is supported by partners like Marriott Bonvoy, INEOS Automotive, Pacifico, Hublot and Tiffany & Co., and it inked a multi-year media rights deal with NBC Sports.
These partnerships have allowed White and his team to offer athletes the opportunity to compete for an unprecedented $2.5 million season purse at the end of The Snow League's four-stop season.
Now, The Snow League has announced that Eileen Gu, one of the most recognizable names and faces in action sports, is joining as global ambassador.
The news is sure to excite freeskiing fans, who eagerly await that sport's debut in the second stop of the Snow League's first season in Yunding Secret Garden in China on December 4–6, 2025.
'Eileen represents everything The Snow League stands for: greatness, creativity and a relentless drive to push boundaries,' White said. 'The Snow League is doing what no other winter sports league has done—bringing together world-class venues, premium global partners and high-profile investors to create an experience that elevates both the athletes and the sports themselves.'
Having Gu onboard, White added, 'is not only an asset for the league, but also for the future of winter sports, and I'm so proud to have her as a partner on this journey.'
Freeskier Eileen Gu, a powerhouse on and off the slopes, is joining Shaun White's Snow League as ... More global ambassador
Gu, at 21, is already making her case as one of the best freeskiers to ever do it. She is as skilled in halfpipe as she is slopestyle and rails. At Beijing 2022, Gu became the youngest freeski Olympic gold medalist at age 18. She's also the first winter sports athlete to claim three medals at both the 2021 X Games and FIS World Championships. In World Cup competition, Gu has made the podium in 89% of her starts.
But skiing represents just a fraction of Gu's platform.
Gu is a full-time student at Stanford University, where she is studying quantum physics. She is also an in-demand model, having walked the runway for designers like Louis Vuitton and Brunello Cucinelli and been featured on covers of magazines like Vogue and Harper's Bazaar.
In short, Gu is a sports and culture powerhouse, truly the freeskiing equivalent to White, who became the face of snowboarding during his pro career. Gu has already served as an ambassador for the 2022 Beijing Olympics, 2024 Gangwon Youth Olympics, 2024 Paris Olympics and Salt Lake City's 2030 Olympic bid.
Now, Gu will bring that global crossover appeal to The Snow League as the series prepares for its event in China at the same venue that saw Gu made history, becoming the only action sports athlete to win three medals (two golds and a silver) at the Beijing 2022 Games.
The inaugural Snow League event, held in Aspen Snowmass March 7–8, featured snowboard halfpipe only. The final two events of the season in 2026, at Aspen Snowmass again in February and then Laax, Switzerland, in March, will also feature both disciplines.
Shaun White poses in the halfpipe after competition on day 2 of The Snow League at Buttermilk Ski ... More Resort on March 08, 2025 in Aspen, Colorado.
The list of invited freeski athletes for the remaining Snow League events has not yet been released.
'I vividly remember the first time I heard about The Snow League," Gu told me. 'I was getting my boots fitted in the springtime when my phone rang in my pocket. Shaun and I spoke for over an hour about our common goal of sharing the joy of snowsport with kids and adults all around the world who maybe hadn't engaged in winter sports before.'
The partnership is symbolic of The Snow League's—and White's and Gu's—goal of elevating winter sports as a whole, moving beyond the tired skiing vs. snowboarding debate.
'It's about the power of sport to bring people together, cultivate resilience and build sportsmanship,' Gu added. 'I'm excited to align with TSL to make the world better through sport.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Stock market today: S&P 500, Nasdaq have records back in sight as stocks gain amid US-China trade talks
Stock market today: S&P 500, Nasdaq have records back in sight as stocks gain amid US-China trade talks

Yahoo

time41 minutes ago

  • Yahoo

Stock market today: S&P 500, Nasdaq have records back in sight as stocks gain amid US-China trade talks

US stocks edged higher on Tuesday as renewed US-China trade talks entered their second day after an upbeat initial meeting. The Dow Jones Industrial Average (^DJI) finished the day up around 0.2%, while the S&P 500 (^GSPC) rose about 0.5%. The tech-heavy Nasdaq Composite (^IXIC) climbed roughy 0.6%. Both the S&P 500 and Nasdaq are now within striking distance of their all-time closing highs — 6,144.15 for the S&P (set on February 19, 2025) and 20,173.89 for the Nasdaq (set on December 16, 2024). Stocks have been buoyed by resilient corporate earnings, more positive growth forecasts, and optimism over potential tariff deals. The mood remains cautious, however, as investors keep a close eye on the latest trade developments. While a deal on access to China's rare earth minerals is the US's priority, negotiators are navigating contentious issues that have fueled a rift between the two trading partners. Any signs of progress will likely be greeted with relief by markets, given switchbacks in President Trump's tariff policy and in US-China relations have fed uncertainty about risks to economic growth worldwide. On Monday, stocks on Wall Street edged higher after White House officials suggested discussions had been productive — though Trump himself cautioned that "China's not easy." Read more: The latest on Trump's tariffs Chinese stocks slid suddenly on Tuesday before the meeting resumed, a bout of volatility that suggested investors aren't confident of success. 'The market is too sensitive,' Fu Shifeng, investment director at Cheng Zhou Investment, told Bloomberg. 'People seem to be speculating that the talks didn't go well.' Meanwhile, a gauge of US small-business optimism came in higher in May — the first rise since September — amid the trade truce with China. But worries about Trump's tax-and-spending megabill stoked uncertainty about the outlook, the NFIB survey found. Investors are now counting down to the release of the May Consumer Price Index (CPI) report on Wednesday. The report will offer fresh insight into the state of inflation amid Trump's evolving trade policy. Analysts expect to see that price pressures accelerated last month. US stocks extended their climb on Tuesday, fueled by growing optimism over the US-China trade relationship. The Dow Jones Industrial Average (^DJI) finished the day up around 0.2%, while the S&P 500 (^GSPC) rose about 0.5%. The tech-heavy Nasdaq Composite (^IXIC) climbed roughy 0.6%. Both the S&P 500 and Nasdaq are now nearing their all-time closing highs. The rally has been underpinned by resilient corporate earnings, improved economic growth projections, and renewed hopes for progress on trade and tariff negotiations. Casey's (CASY) stock hit an all-time high on Tuesday after the company beat on both the top and bottom lines in its fiscal fourth quarter. Adjusted earnings grew 12.4% from a year ago to $2.63, alongside net sales growth of 11% to $3.99 billion. Same-store sales grew 1.7%, driven by its prepared food business, non-alcoholic beverages, and general merchandise. CEO Darren Rebelez told Yahoo Finance the pizza and convenience store chain is seeing growth across all income cohorts and has executed against three drivers: store growth, and efficiency, and its prepared foods business (including its "crown jewel" pizza business). "We know we have a ton of white space to grow this brand," Rebelez told Yahoo Finance. The company plans to open 80 stores in fiscal 2026 through M&A and new store construction. Casey's is gaining momentum, much like Dollar General (DG), Dollar Tree (DLTR), and Walmart (WMT), as shoppers fixate on value. Rebelez said that consumers are choosing Casey's over quick-service restaurants and pizza chains like Pizza Hut, Papa John's (PZZA), and Domino's (DPZ). He added that low-income shoppers are making "different" purchase decisions, but they are still spending. "People come in, they see the candy price, and then they go over to our bakery, where we have cookies and brownies and other sweet treats that are far more affordable," he said. The 12% spike in Casey's stock in midday trading Tuesday marked its biggest jump in about a year. Shares are up nearly 24% this year. The Federal Reserve received one positive data point on the inflation front ahead of Wednesday's Consumer Price Index release. Well, at least on the surface. On Monday, the New York Fed's May 2025 Survey of Consumer Expectations showed inflation expectations for the next year, three years and five years all fell. Federal Reserve chair Jerome Powell frequently references surveys like this one when noting that "well-anchored" inflation expectations are key to reaching the eventual 2% inflation target. The economic theory is that if consumers expect prices to increase significantly over the next few years, they will simply pay higher prices for goods, which in turn won't force businesses to lower prices. BNP Pairbas chief US economist James Egelhof, who worked at the New York Fed for roughly a decade, said during a media roundtable on Tuesday that the recent decline in price increase expectations doesn't mean expectations are well anchored. Instead Egelhof noted the recent gyrations in the data that are shown in our Chart of the Day are a potential point of concern. "This volatility, which appears to follow political headlines, suggest that consumers are basing their inflation views based on political views and not on based on the FOMC's 2% inflation target," Egelhof said. "That is a problem for the Fed in it of itself." Boeing (BA) stock erased gains of as much as 2% on Tuesday, despite booking 303 new orders in May, the most since December 2023. The aerospace giant said it delivered more than 45 jets last month, nearly double from last year. The data comes ahead of the Paris Air Show due to start next Monday. Boeing shares have soared 25% this year as its orders have mounted, including recent deals with customers in the UK and Qatar. Disney (DIS) Disney was the No. 1 trending ticker on Yahoo Finance on Tuesday. Shares of the media and entertainment giant jumped 2% on the heels of peer Warner Bros. Discovery's (WBD) announcement to split into two independent, publicly traded companies. As Yahoo Finance's Alexandra Canal reports, Disney has also explored options to divest its linear networks, including ABC, FX, and National Geographic. While CEO Bob Iger has since walked back those comments, analysts say a sale or spin-off could still resurface. IBM (IBM) IBM stock added more than 2% after the cloud, software, and network infrastructure giant announced it is building the world's first large-scale quantum computer, called Starling, capable of operating without errors. IBM shares have been hitting all-time highs recently. On Monday, the company's market cap surpassed $250 billion for the first time ever. J.M. Smucker (SJM) Shares of J.M. Smucker sank on Tuesday after the food producer forecast full-year profit below Wall Street expectations. The company's results underscore a challenging environment for consumer packaged goods as shoppers pull back on spending on items like Jif peanut butter, Milk-Bone pet treats, and Hostess snack cakes. Smucker also noted it would raise prices as tariffs weigh on its coffee business. Stocks gained on Tuesday mid-trading as investors awaited new details on the high-level trade talks between the US and China, sending the S&P 500 (^GSPC) just over 100 points away from its all-time closing high. The broad-based index inched up nearly 0.4%, trading at around 6,027, just about 2% away from its February 19 record close of 6,144.15. The index has rallied more than 20% since hitting its April lows in the aftermath of President Trump's tariff policy unveiling. Trump has since paused and rolled back much of the policy while the US negotiates with individual countries. Gold (GC=F) and silver (SI=F) prices took a breather from their recent rally on Tuesday. Gold retreated less than 0.5% during the session to hover near $3,347 per ounce. Silver hovered near $36 per ounce, its highest level since February 2012. Precious metals have surged higher recently amid uncertainty over President Trump's tariff policy and the continued decline of the US dollar. Bitcoin (BTC-USD) climbed toward new highs on Tuesday, amid a series of tailwinds for the crypto space. The token was trading north of $109,000 each by 8:30 a.m. ET on Tuesday. Bitcoin touched an all-time high just under $112,000 last month. Companies have increasingly been adding bitcoin to their balance sheets in recent months, following in the footsteps of Strategy (MSTR), the largest public corporate holder of the token. "Over time, bitcoin has proven itself to be a better hedge against inflation than many other asset classes, even gold ... adding bitcoin to a corporate treasury seems like a prudent choice," said Elliot Johnson, CEO of the Bitcoin Treasury Corporation. Legislation in Congress that would regulate stablecoins, digital assets backed by the US dollar, has lifted investor optimism over the crypto space. Yahoo Finance's Pras Subramanian reports: Read more here. Stocks edged higher on Tuesday as trade talks between the US and China resumed. The Dow Jones Industrial Average (^DJI) wavered around the flat line. The S&P 500 (^GSPC) rose 0.1%. The tech-heavy Nasdaq Composite (^IXIC) also gained about 0.2%. High-level trade talks in London restarted on Tuesday as investors watched for any signs of progress in the trade negotiations between Washington and Beijing. Meanwhile, bitcoin (BTC-USD) climbed toward new highs on Tuesday, hovering above $109,000 per token. Vaccine stocks were surprisingly resilient after US Health Secretary Robert F. Kennedy Jr. fired all 17 members of the vaccine advisory committee at the Centers for Disease Control and Prevention (CDC) on Monday. Moderna (MRNA) stock fell 0.8% in premarket trading, while shares of Pfizer (PFE) and Merck (MRK) were roughly flat. BioNTech (BNTX) gained 1.4%. The move could create longer lead times for the CDC to review and approve vaccines, and the panel has significant influence over whether insurance companies and Medicaid cover the immunizations. In an op-ed published in the Wall Street Journal on Monday, RFK Jr. stated that he was reconfiguring the panel to restore trust in vaccines. IBM (IBM) stock added 0.8% in premarket trading on Thursday after the company announced it is building the world's first large-scale quantum computer, called Starling, capable of operating without errors. Yahoo Finance's Laura Bratton reports: Read more here. Shares of J.M. Smucker (SJM) are sinking premarket after the food producer forecast full-year profit below Wall Street expectations. Smucker projected adjusted earnings for the year to come in at $9.50 a share, compared to estimates of $10.25, per Bloomberg. It highlights the challenging environment for consumer packaged goods as consumers pull back on spending on items like Jif peanut butter, Milk-Bone pet treats, and Hostess snack cakes. Smucker also noted it would raise prices as tariffs weigh on its coffee business. J.M. Smucker stock fell over 7% following the company's quarterly results. Economic data: NFIB small business optimism (May) Earnings: Academy Sports and Outdoors (ASO), Dave & Buster's (PLAY), GameStop (GME), The J.M. Smucker Company (SJM), Stitch Fix (SFIX) Here are some of the biggest stories you may have missed overnight and early this morning: The labor market is creating new jobs — but maybe not yours Trump says China 'not easy' as trade talks to continue Tuesday IBM takes a big step toward useful quantum computing China stocks drop suddenly in wait for trade talks Big Tech is driving bullish flows in US stocks: Citi Nvidia, HPE to build new supercomputer in Germany Reddit vs. Anthropic: The AI scraping war is heating up again Wary Wall Street positioning leaves room for S&P 500 to rally Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla, Inc. (TSLA) stock rose 2% before the bell on Tuesday, after being hit with 2 downgrades on Monday due to the fallout from CEO Elon Musk and President Trump's dustup. Tesla's robotaxi test is set to take place on June 12 in Austin, Texas. McDonald's (MCD) shares fell over 1% in premarket trading today after analysts at Morgan Stanley downgraded the fast food company on Monday to a Hold from a Buy. Morgan Stanley also cut its price target to $324 from $329. Bloomberg reports: US technology heavyweights have attracted a flurry of bullish bets as optimism around the economic outlook overshadows trade concerns, according to Citigroup Inc. (C) strategists. Long positions in the technology-heavy Nasdaq 100 (^NDX) increased by more than in the S&P 500 (^GSPC) last week, the team led by Chris Montagu wrote in a note. Exposure has been mainly driven by new bullish bets, while short bets steadily declined across indexes, they said. Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. When President Trump set off a global stock market slump in April with his package of sweeping new tariffs, small investors across Asia rushed to the US stock market to buy the dip. Now they're backing away, data for May shows. Bloomberg reports: Read more here. Apple (AAPL) is holding its highly anticipated annual developers' conference. Yahoo Finance's Daniel Howley reports from Silicon Valley: Apple on Monday announced sweeping changes to its product ecosystems, including a wide-ranging revamp of its iOS operating system for its iPhones, as well as the software that powers its iPads and Macs. The updates, which the company debuted as part of its WWDC developer event held at its headquarters in Cupertino, Calif., mark the biggest shift in Apple's software design in years. Still, the improvements were light on new AI capabilities at a time when Wall Street is looking for Apple to prove it can compete in the space. ... While Apple showed off a handful of new features for its Apple Intelligence platform, it's unlikely to quell fears that the company is falling behind the likes of Microsoft and Google in the rapidly evolving space. Read more on Apple's announcements here. US stocks extended their climb on Tuesday, fueled by growing optimism over the US-China trade relationship. The Dow Jones Industrial Average (^DJI) finished the day up around 0.2%, while the S&P 500 (^GSPC) rose about 0.5%. The tech-heavy Nasdaq Composite (^IXIC) climbed roughy 0.6%. Both the S&P 500 and Nasdaq are now nearing their all-time closing highs. The rally has been underpinned by resilient corporate earnings, improved economic growth projections, and renewed hopes for progress on trade and tariff negotiations. Casey's (CASY) stock hit an all-time high on Tuesday after the company beat on both the top and bottom lines in its fiscal fourth quarter. Adjusted earnings grew 12.4% from a year ago to $2.63, alongside net sales growth of 11% to $3.99 billion. Same-store sales grew 1.7%, driven by its prepared food business, non-alcoholic beverages, and general merchandise. CEO Darren Rebelez told Yahoo Finance the pizza and convenience store chain is seeing growth across all income cohorts and has executed against three drivers: store growth, and efficiency, and its prepared foods business (including its "crown jewel" pizza business). "We know we have a ton of white space to grow this brand," Rebelez told Yahoo Finance. The company plans to open 80 stores in fiscal 2026 through M&A and new store construction. Casey's is gaining momentum, much like Dollar General (DG), Dollar Tree (DLTR), and Walmart (WMT), as shoppers fixate on value. Rebelez said that consumers are choosing Casey's over quick-service restaurants and pizza chains like Pizza Hut, Papa John's (PZZA), and Domino's (DPZ). He added that low-income shoppers are making "different" purchase decisions, but they are still spending. "People come in, they see the candy price, and then they go over to our bakery, where we have cookies and brownies and other sweet treats that are far more affordable," he said. The 12% spike in Casey's stock in midday trading Tuesday marked its biggest jump in about a year. Shares are up nearly 24% this year. The Federal Reserve received one positive data point on the inflation front ahead of Wednesday's Consumer Price Index release. Well, at least on the surface. On Monday, the New York Fed's May 2025 Survey of Consumer Expectations showed inflation expectations for the next year, three years and five years all fell. Federal Reserve chair Jerome Powell frequently references surveys like this one when noting that "well-anchored" inflation expectations are key to reaching the eventual 2% inflation target. The economic theory is that if consumers expect prices to increase significantly over the next few years, they will simply pay higher prices for goods, which in turn won't force businesses to lower prices. BNP Pairbas chief US economist James Egelhof, who worked at the New York Fed for roughly a decade, said during a media roundtable on Tuesday that the recent decline in price increase expectations doesn't mean expectations are well anchored. Instead Egelhof noted the recent gyrations in the data that are shown in our Chart of the Day are a potential point of concern. "This volatility, which appears to follow political headlines, suggest that consumers are basing their inflation views based on political views and not on based on the FOMC's 2% inflation target," Egelhof said. "That is a problem for the Fed in it of itself." Boeing (BA) stock erased gains of as much as 2% on Tuesday, despite booking 303 new orders in May, the most since December 2023. The aerospace giant said it delivered more than 45 jets last month, nearly double from last year. The data comes ahead of the Paris Air Show due to start next Monday. Boeing shares have soared 25% this year as its orders have mounted, including recent deals with customers in the UK and Qatar. Disney (DIS) Disney was the No. 1 trending ticker on Yahoo Finance on Tuesday. Shares of the media and entertainment giant jumped 2% on the heels of peer Warner Bros. Discovery's (WBD) announcement to split into two independent, publicly traded companies. As Yahoo Finance's Alexandra Canal reports, Disney has also explored options to divest its linear networks, including ABC, FX, and National Geographic. While CEO Bob Iger has since walked back those comments, analysts say a sale or spin-off could still resurface. IBM (IBM) IBM stock added more than 2% after the cloud, software, and network infrastructure giant announced it is building the world's first large-scale quantum computer, called Starling, capable of operating without errors. IBM shares have been hitting all-time highs recently. On Monday, the company's market cap surpassed $250 billion for the first time ever. J.M. Smucker (SJM) Shares of J.M. Smucker sank on Tuesday after the food producer forecast full-year profit below Wall Street expectations. The company's results underscore a challenging environment for consumer packaged goods as shoppers pull back on spending on items like Jif peanut butter, Milk-Bone pet treats, and Hostess snack cakes. Smucker also noted it would raise prices as tariffs weigh on its coffee business. Stocks gained on Tuesday mid-trading as investors awaited new details on the high-level trade talks between the US and China, sending the S&P 500 (^GSPC) just over 100 points away from its all-time closing high. The broad-based index inched up nearly 0.4%, trading at around 6,027, just about 2% away from its February 19 record close of 6,144.15. The index has rallied more than 20% since hitting its April lows in the aftermath of President Trump's tariff policy unveiling. Trump has since paused and rolled back much of the policy while the US negotiates with individual countries. Gold (GC=F) and silver (SI=F) prices took a breather from their recent rally on Tuesday. Gold retreated less than 0.5% during the session to hover near $3,347 per ounce. Silver hovered near $36 per ounce, its highest level since February 2012. Precious metals have surged higher recently amid uncertainty over President Trump's tariff policy and the continued decline of the US dollar. Bitcoin (BTC-USD) climbed toward new highs on Tuesday, amid a series of tailwinds for the crypto space. The token was trading north of $109,000 each by 8:30 a.m. ET on Tuesday. Bitcoin touched an all-time high just under $112,000 last month. Companies have increasingly been adding bitcoin to their balance sheets in recent months, following in the footsteps of Strategy (MSTR), the largest public corporate holder of the token. "Over time, bitcoin has proven itself to be a better hedge against inflation than many other asset classes, even gold ... adding bitcoin to a corporate treasury seems like a prudent choice," said Elliot Johnson, CEO of the Bitcoin Treasury Corporation. Legislation in Congress that would regulate stablecoins, digital assets backed by the US dollar, has lifted investor optimism over the crypto space. Yahoo Finance's Pras Subramanian reports: Read more here. Stocks edged higher on Tuesday as trade talks between the US and China resumed. The Dow Jones Industrial Average (^DJI) wavered around the flat line. The S&P 500 (^GSPC) rose 0.1%. The tech-heavy Nasdaq Composite (^IXIC) also gained about 0.2%. High-level trade talks in London restarted on Tuesday as investors watched for any signs of progress in the trade negotiations between Washington and Beijing. Meanwhile, bitcoin (BTC-USD) climbed toward new highs on Tuesday, hovering above $109,000 per token. Vaccine stocks were surprisingly resilient after US Health Secretary Robert F. Kennedy Jr. fired all 17 members of the vaccine advisory committee at the Centers for Disease Control and Prevention (CDC) on Monday. Moderna (MRNA) stock fell 0.8% in premarket trading, while shares of Pfizer (PFE) and Merck (MRK) were roughly flat. BioNTech (BNTX) gained 1.4%. The move could create longer lead times for the CDC to review and approve vaccines, and the panel has significant influence over whether insurance companies and Medicaid cover the immunizations. In an op-ed published in the Wall Street Journal on Monday, RFK Jr. stated that he was reconfiguring the panel to restore trust in vaccines. IBM (IBM) stock added 0.8% in premarket trading on Thursday after the company announced it is building the world's first large-scale quantum computer, called Starling, capable of operating without errors. Yahoo Finance's Laura Bratton reports: Read more here. Shares of J.M. Smucker (SJM) are sinking premarket after the food producer forecast full-year profit below Wall Street expectations. Smucker projected adjusted earnings for the year to come in at $9.50 a share, compared to estimates of $10.25, per Bloomberg. It highlights the challenging environment for consumer packaged goods as consumers pull back on spending on items like Jif peanut butter, Milk-Bone pet treats, and Hostess snack cakes. Smucker also noted it would raise prices as tariffs weigh on its coffee business. J.M. Smucker stock fell over 7% following the company's quarterly results. Economic data: NFIB small business optimism (May) Earnings: Academy Sports and Outdoors (ASO), Dave & Buster's (PLAY), GameStop (GME), The J.M. Smucker Company (SJM), Stitch Fix (SFIX) Here are some of the biggest stories you may have missed overnight and early this morning: The labor market is creating new jobs — but maybe not yours Trump says China 'not easy' as trade talks to continue Tuesday IBM takes a big step toward useful quantum computing China stocks drop suddenly in wait for trade talks Big Tech is driving bullish flows in US stocks: Citi Nvidia, HPE to build new supercomputer in Germany Reddit vs. Anthropic: The AI scraping war is heating up again Wary Wall Street positioning leaves room for S&P 500 to rally Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla, Inc. (TSLA) stock rose 2% before the bell on Tuesday, after being hit with 2 downgrades on Monday due to the fallout from CEO Elon Musk and President Trump's dustup. Tesla's robotaxi test is set to take place on June 12 in Austin, Texas. McDonald's (MCD) shares fell over 1% in premarket trading today after analysts at Morgan Stanley downgraded the fast food company on Monday to a Hold from a Buy. Morgan Stanley also cut its price target to $324 from $329. Bloomberg reports: US technology heavyweights have attracted a flurry of bullish bets as optimism around the economic outlook overshadows trade concerns, according to Citigroup Inc. (C) strategists. Long positions in the technology-heavy Nasdaq 100 (^NDX) increased by more than in the S&P 500 (^GSPC) last week, the team led by Chris Montagu wrote in a note. Exposure has been mainly driven by new bullish bets, while short bets steadily declined across indexes, they said. Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. When President Trump set off a global stock market slump in April with his package of sweeping new tariffs, small investors across Asia rushed to the US stock market to buy the dip. Now they're backing away, data for May shows. Bloomberg reports: Read more here. Apple (AAPL) is holding its highly anticipated annual developers' conference. Yahoo Finance's Daniel Howley reports from Silicon Valley: Apple on Monday announced sweeping changes to its product ecosystems, including a wide-ranging revamp of its iOS operating system for its iPhones, as well as the software that powers its iPads and Macs. The updates, which the company debuted as part of its WWDC developer event held at its headquarters in Cupertino, Calif., mark the biggest shift in Apple's software design in years. Still, the improvements were light on new AI capabilities at a time when Wall Street is looking for Apple to prove it can compete in the space. ... While Apple showed off a handful of new features for its Apple Intelligence platform, it's unlikely to quell fears that the company is falling behind the likes of Microsoft and Google in the rapidly evolving space. Read more on Apple's announcements here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Trump tariffs live updates: US-China trade talks going well, could stretch into Wednesday, Lutnick says
Trump tariffs live updates: US-China trade talks going well, could stretch into Wednesday, Lutnick says

Yahoo

timean hour ago

  • Yahoo

Trump tariffs live updates: US-China trade talks going well, could stretch into Wednesday, Lutnick says

Trade talks between the US and China resumed on Tuesday, with talks stretching well into the evening in London. Commerce Secretary Howard Lutnick said the talks were progressing "really, really well," but that they could stretch into Wednesday as the sides iron out details. After day one, US officials were upbeat but vague on progress. President Trump said on Monday he received "good reports" but added that "China's not easy." The high-stakes negotiations follow Trump's call with Xi Jinping last week, which both leaders framed as positive. US-China tensions have risen in the aftermath of the countries' trade truce reached in mid-May in Geneva, with both countries accusing the other of breaching that truce while ratcheting up pressure on other issues. The US and China are also now using their control over certain key materials to gain control in the trade war. Bloomberg reported on Friday that the US dominates in exports of ethane, a gas used to make plastics, and China buys nearly all of it. Washington is now tightening control by requiring export licenses. China's curbs on exports of rare earth minerals, crucial for autos in particular, have drawn Washington's ire. Read more: What Trump's tariffs mean for the economy and your wallet The US-China talks come as Trump pushes countries to speed up negotiations. The US sent a letter to partners as a "friendly reminder" that Trump's self-imposed 90-day pause on sweeping "reciprocal" tariffs is set to expire in early July. White House advisers have for weeks promised trade deals in the "not-too-distant future," with the only announced agreement so far coming with the United Kingdom. US and Indian officials held trade talks this week and agreed to extend those discussions on Monday and Tuesday ahead of the July 9 deadline. New tariffs are coming into play: Effective Wednesday, June 4, Trump doubled tariffs on steel and aluminum from 25% to 50%. Meanwhile, Trump's most sweeping tariffs face legal uncertainty after a federal appeals court allowed the tariffs to temporarily stay in effect, a day after the US Court of International Trade blocked their implementation, deeming the method used to enact them "unlawful." Here are the latest updates as the policy reverberates around the world. US-China talks stretched on Tuesday, and they may continue into Wednesday, US Commerce Secretary Howard Lutnick told reporters outside of Lancaster House in London, where delegations from both countries are meeting. "I think the talks are going really, really well," Lutnick said. "We're very much spending time and effort and energy — everybody's got their head down working closely." "I hope they end this evening," he added, "but if they need be, we'll be here tomorrow." The teams from China and the US, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, have been holding negotiations since Monday. The London summit followed a phone call between President Trump and Chinese President Xi Jinping. Stocks rose to near session highs following Lutnick's comments on an otherwise fairly muted day in markets. Read more here. Bloomberg reports: Read more here. Yahoo Finance's Rick Newman reports: Read more here. From Reuters: Read more here. Banking fees and trading revenue for one of the world's largest investment banks is expected to climb this quarter despite the concerns that surround US tariffs, Citigroup's (C) head of banking Vis Raghavan said on Tuesday. Raghaven added, that M&A activity continues to be active but the IPO market has been "stagnant." Reuters reports: Read more here. The World Bank cut its global growth forecast for 2025 on Tuesday by 0.4 percentage point to 2.3%. The international financial institution, which provides loans to governments said that high tariffs and uncertainty were a "significant headwind" for nearly all economies. Reuters reports: Read more here. Yahoo Finance's Alexis Keenan reports: Read more here. On Tuesday, US Commerce Secretary Howard Lutnick said trade negotiations with China were going well, as the two sides met in London for a second day of talks. Reuters reports: Read more here. The CEO of Freeport-McMoRan Inc. (FCX), North America's top producer of copper has warned that tariffs could hurt an industry that President Trump is trying to help. Bloomberg News reports: Read more here. Reuters reports: Maruti Suzuki has cut near-term production targets for its maiden electric vehicle e-Vitara by two-thirds because of rare earths shortages, a document showed, in the latest sign of disruption to the auto industry from China's export curbs. India's top carmaker, which said on Monday it had not seen any impact yet from the supply crisis, now plans to make about 8,200 e-Vitaras between April and September, versus an original goal of 26,500, according to a company document seen by Reuters. It cited "supply constraints" in rare earth materials that are vital in making magnets and other components across a range of hi-tech industries. Read more here. Both the US and China are finding new tools to use as bargaining chips within trade negotiations. Here's an example of just some of them: Bloomberg News reports: Read more here. The de-escalation in trade tensions likely contributed to an improvement in US small-business confidence in May. However, uncertainty remained due to the overall economic outlook. Reuters reports: Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. As US-China trade negotiations resume in London on Tuesday, both sides are eager to rebuild the truce established in May. While, the US has tightened controls on AI chip exports, China may be holding the most valuable card in these talks. CNN reports: Read more here. Advertising firm, WPP said on Tuesday that global advertising revenue is expected to grow 6% this year, lowering its earlier target of 7.7% due to the uncertainty surrounding US trade policies. Reuters reports: Read more here. Bloomberg reported that trade talks between the US and China will resume tomorrow morning at 10 a.m. in London after six hours of negotiations on Monday. US officials were looking for a "handshake" on Monday, National Economic Council director Kevin Hassett told CNBC, as the two sides look to ease tensions over tech and rare earths. President Trump weighed in on the progress, telling reporters on Monday: "We are doing well with China. China's not easy. ... I'm only getting good reports.' Treasury Secretary Scott Bessent, meanwhile, said it was "good meeting" and Commerce Secretary Howard Lutnick called the talks "fruitful," sending an upbeat signal on the talks' progress. The Chinese delegation, led by Vice Premier He Lifeng, did not comment on the talks. From Bloomberg: Read more here. The number of ocean containers from China bound for the US fell precipitously in May when President Trump's 145% tariffs on Chinese goods were in effect. Supply chain technology company Descartes said Monday that seaborne imports from China to the US dropped 28.5% year over year, the sharpest decline since the pandemic, per Reuters. Overall, US seaborne imports fell 7.2% annually in May to 2.18 million 20-foot equivalent units. The decline snaps a streak of increases fueled by companies frontloading goods to avoid higher duties, which has kept US seaports, such as the Port of Long Beach, busy. "The effects of U.S. policy shifts with China are now clearly visible in monthly trade flows," Descartes said in a statement. Read more here. In today's Chart of the Day, Yahoo Finance's Josh Schafer writes that tariff headlines have been rattling markets to a lesser degree than they did in April, despite an escalation of trade tensions recently: Sign up for the Morning Brief newsletter to get the Chart of the Day in your inbox. US import costs of steel and aluminum are expected to rise by more than $100 billion after President Trump doubled tariffs on the metals to 50% this week. That is expected to impact automakers such as Ford (F), as well as importers for a variety of goods, from baseball bats to aircraft parts. The Financial Times reports: Read more here. Tariffs have brought challenges for many, but Century Aluminum (CENX) and top recycler Matalco stand to benefit from President Trump's metal import duties as domestic prices rise. Reuters reports: Read more here. US-China talks stretched on Tuesday, and they may continue into Wednesday, US Commerce Secretary Howard Lutnick told reporters outside of Lancaster House in London, where delegations from both countries are meeting. "I think the talks are going really, really well," Lutnick said. "We're very much spending time and effort and energy — everybody's got their head down working closely." "I hope they end this evening," he added, "but if they need be, we'll be here tomorrow." The teams from China and the US, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, have been holding negotiations since Monday. The London summit followed a phone call between President Trump and Chinese President Xi Jinping. Stocks rose to near session highs following Lutnick's comments on an otherwise fairly muted day in markets. Read more here. Bloomberg reports: Read more here. Yahoo Finance's Rick Newman reports: Read more here. From Reuters: Read more here. Banking fees and trading revenue for one of the world's largest investment banks is expected to climb this quarter despite the concerns that surround US tariffs, Citigroup's (C) head of banking Vis Raghavan said on Tuesday. Raghaven added, that M&A activity continues to be active but the IPO market has been "stagnant." Reuters reports: Read more here. The World Bank cut its global growth forecast for 2025 on Tuesday by 0.4 percentage point to 2.3%. The international financial institution, which provides loans to governments said that high tariffs and uncertainty were a "significant headwind" for nearly all economies. Reuters reports: Read more here. Yahoo Finance's Alexis Keenan reports: Read more here. On Tuesday, US Commerce Secretary Howard Lutnick said trade negotiations with China were going well, as the two sides met in London for a second day of talks. Reuters reports: Read more here. The CEO of Freeport-McMoRan Inc. (FCX), North America's top producer of copper has warned that tariffs could hurt an industry that President Trump is trying to help. Bloomberg News reports: Read more here. Reuters reports: Maruti Suzuki has cut near-term production targets for its maiden electric vehicle e-Vitara by two-thirds because of rare earths shortages, a document showed, in the latest sign of disruption to the auto industry from China's export curbs. India's top carmaker, which said on Monday it had not seen any impact yet from the supply crisis, now plans to make about 8,200 e-Vitaras between April and September, versus an original goal of 26,500, according to a company document seen by Reuters. It cited "supply constraints" in rare earth materials that are vital in making magnets and other components across a range of hi-tech industries. Read more here. Both the US and China are finding new tools to use as bargaining chips within trade negotiations. Here's an example of just some of them: Bloomberg News reports: Read more here. The de-escalation in trade tensions likely contributed to an improvement in US small-business confidence in May. However, uncertainty remained due to the overall economic outlook. Reuters reports: Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. As US-China trade negotiations resume in London on Tuesday, both sides are eager to rebuild the truce established in May. While, the US has tightened controls on AI chip exports, China may be holding the most valuable card in these talks. CNN reports: Read more here. Advertising firm, WPP said on Tuesday that global advertising revenue is expected to grow 6% this year, lowering its earlier target of 7.7% due to the uncertainty surrounding US trade policies. Reuters reports: Read more here. Bloomberg reported that trade talks between the US and China will resume tomorrow morning at 10 a.m. in London after six hours of negotiations on Monday. US officials were looking for a "handshake" on Monday, National Economic Council director Kevin Hassett told CNBC, as the two sides look to ease tensions over tech and rare earths. President Trump weighed in on the progress, telling reporters on Monday: "We are doing well with China. China's not easy. ... I'm only getting good reports.' Treasury Secretary Scott Bessent, meanwhile, said it was "good meeting" and Commerce Secretary Howard Lutnick called the talks "fruitful," sending an upbeat signal on the talks' progress. The Chinese delegation, led by Vice Premier He Lifeng, did not comment on the talks. From Bloomberg: Read more here. The number of ocean containers from China bound for the US fell precipitously in May when President Trump's 145% tariffs on Chinese goods were in effect. Supply chain technology company Descartes said Monday that seaborne imports from China to the US dropped 28.5% year over year, the sharpest decline since the pandemic, per Reuters. Overall, US seaborne imports fell 7.2% annually in May to 2.18 million 20-foot equivalent units. The decline snaps a streak of increases fueled by companies frontloading goods to avoid higher duties, which has kept US seaports, such as the Port of Long Beach, busy. "The effects of U.S. policy shifts with China are now clearly visible in monthly trade flows," Descartes said in a statement. Read more here. In today's Chart of the Day, Yahoo Finance's Josh Schafer writes that tariff headlines have been rattling markets to a lesser degree than they did in April, despite an escalation of trade tensions recently: Sign up for the Morning Brief newsletter to get the Chart of the Day in your inbox. US import costs of steel and aluminum are expected to rise by more than $100 billion after President Trump doubled tariffs on the metals to 50% this week. That is expected to impact automakers such as Ford (F), as well as importers for a variety of goods, from baseball bats to aircraft parts. The Financial Times reports: Read more here. Tariffs have brought challenges for many, but Century Aluminum (CENX) and top recycler Matalco stand to benefit from President Trump's metal import duties as domestic prices rise. Reuters reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Trade Talks Send S&P 500 to Third Straight Gain
Trade Talks Send S&P 500 to Third Straight Gain

Wall Street Journal

timean hour ago

  • Wall Street Journal

Trade Talks Send S&P 500 to Third Straight Gain

The S&P 500 notched a sixth gain in seven sessions after signs of progress in trade talks between U.S. and Chinese officials in London. The broad index hit session highs Tuesday afternoon after Commerce Secretary Howard Lutnick told reporters the talks were 'going really, really well.' Kevin Hassett, director of the National Economic Council, said that the negotiations were likely to result in Beijing quickly releasing rare earths for export and Washington easing China's access to semiconductors.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store