Here are five key things investors need to know to start the trading day:
1. Trade tea leaves
The major averages are near the flatline for the week, with one trading day to go. The Dow Jones Industrial Average is up 0.1% over the past four trading sessions, while the S&P 500 is down 0.4% and the Nasdaq Composite is 0.3% lower. Investors have been looking for signs of progress in broader trade negotiations, as President Donald Trump’s 90-day reprieve on higher tariff rates ticks by. A preliminary trade agreement with the U.K. seemed to offer some hope — if little detail. Trump on Friday floated the possibility of an 80% tariff rate on China, which currently faces a 145% duty, ahead of trade talks with Beijing this weekend. Follow live market updates.
2. UK deal
Peter Mandelson, British Ambassador to the United States,(L) and US Trade Representative Jamieson Greer during a meeting with President Donald Trump in the Oval Office at the White House on May 08, 2025 in Washington, DC.
Anna Moneymaker | Getty Images
3. China exports
Machinery and vehicles ready for shipment at the dock of the Oriental Port Branch of Lianyungang Port in China, on Sept. 27, 2024.
Costfoto | Nurphoto | Getty Images
4. Gates giving
Bill Gates, who pledged on Thursday to give away almost his entire personal wealth in the next two decades and said the world’s poorest would receive some $200 billion via his foundation, speaks with Reuters during an interview in New York City, U.S., May 8, 2025.
Mike Segar | Reuters
5. Leo XIV
Newly elected Pope Leo XIV, Robert Prevost addresses the crowd on the main central loggia balcony overlooking St Peter’s Square on May 08, 2025 in Vatican City, Vatican.
Vatican Pool | Getty Images News | Getty Images
There’s a new leader of the Roman Catholic Church. Cardinal Robert Francis Prevost was elected pope Thursday, becoming the first American pontiff. Prevost, 69, is originally from Chicago and chose the papal name Leo XIV. He’s the 267th successor to St. Peter. Before his election, Leo led the Vatican Dicastery for Bishops, which advises the pope on bishop appointments.
– CNBC’s Brian Evans, Kevin Breuninger, Anniek Bao, Hayley Cuccinello and Dan Mangan contributed to this report.
