U.S. House Republicans narrowly passed budget legislation after making last-minute amendments to win over hardliners, and the bill is likely to face fewer hurdles in the U.S. Senate.

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The S&P 500 index and the Nasdaq Composite turned lower after bond yields inched higher amid worries of the U.S. fiscal position and the Republican Party's lack of will to hold the line on the deficit.

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Investors turned cautious after a five-week rally on Wall Street lost steam, and the yield on the 30-year U.S. Treasury bonds hovered near 5%.

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The U.S. Treasury bonds faced renewed selling pressure after Moody's Ratings belatedly stripped the U.S. of its highest credit rating, citing persistent deterioration in fiscal governance and a lack of a plan to lower the overall debt.

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The S&P 500 index advanced more than 4%, and the Nasdaq Composite surged more than 5% as the U.S. and China rolled back heavy additional tariffs in the week. The U.S. building permits, housing starts, and completions fell in April.

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The Producer Price Index unexpectedly fell in April, driven by the services sector absorbing some of the recent increases in tariff-driven prices. Retail sales, unadjusted for inflation, edged higher at a slower pace as consumers scaled back purchases.

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Tech stocks struggled to extend their 5-day rally, and broader market indexes lacked direction amid fading optimism about the U.S.-China temporary trade agreement.

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The S&P 500 index and the Nasdaq Composite extended their rally to the second consecutive day after consumer price inflation unexpectedly eased. The decline in energy prices overwhelmed the rise in food costs, but the shelter inflation stayed at an elevated level of 4%.

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The S&P 500, the Nasdaq Composite, and the Hang Seng index soared more than 3% after U.S. and China trade representatives agreed to pause the proposed sky-high tariffs for 90 days while the two sides search for an elusive agreement.

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The S&P 500 index and the Nasdaq Composite extended gains for the second week, and the market rallied over the last month. However, investors remained skeptical about the durability of the market advances because of the incoherent and arbitrary trade policy of the Trump administration.

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The U.S. Federal Reserve left its key lending rate range unrevised and signaled sky-high import taxes could deteriorate the economy. U.S. weekly jobless claims eased from a two-month high, confirming that the impact of the proposed tariffs is still not felt by the labor market.

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The U.S. Federal Reserve is widely anticipated to hold rates steady and reiterate its lower rate path outlook possibilities later today. US-China trade talks in Switzerland are likely to highlight U.S. vulnerabilities and yield little progress.

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The Trump administration's chaotic import tax introduction weighed on the market sentiment and halted the longest rally in the S&P 500 index in twenty years.

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Wall Street indexes turned lower after the Trump administration expanded its tariffs on foreign-made movies. Investors remained on the sidelines amid worries of a lack of concrete trade agreements with key trading partners.

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The U.S. economy added jobs at a slower pace in April, and job additions were downwardly revised for the previous two months as businesses grappled with uncertainties linked to Trump tariffs. Investors reviewed the latest earnings from Apple, Amazon, Airbnb, Exxon Mobil, and Chevron.

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Tech stocks led Wall Street indexes higher after Microsoft and Meta Platforms reported strong quarterly results and confirmed their plans to build out expensive artificial intelligence infrastructure.

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