Global Markets Mixed as Investors Look Toward U.S., China Talks in Switzerland

By Dow Jones Newswires StaffGlobal stock markets were mixed early in Europe with U.S. stock futures pretty much flat following Thursday's bounce after the U.S.-U.K. trade deal.Investors are now looking ahead to Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer's meeting with China's Vice Premier He Lifeng in Switzerland this weekend, though Bessent has stressed that these are just initial talks.Early in Europe, stock futures for the Dow Jones Industrial Average were up very slightly, with Nasdaq futures up 0.3% and those for the S&P 500 flat.Markets ended mixed in Asia as investors remained cautiously optimistic about tariff deals but concerns persist about unpredictable U.S. policymaking. Japan's Nikkei ended 1.6% higher, South Korea's benchmark Kospi index finished 0.1% lower and Australian stocks gained for a third session. Chinese stocks ended lower, with April exports data affecting sentiment.It was a stronger start in Europe; the pan-European Stoxx Europe 600 index rose 0.4% in early trade, Germany's DAX index gained 0.6% to hit an intraday record high, while the U.K.'s FTSE 100 index climbed 0.4%, with some updraft from Thursday's trade deal even as a baseline 10% tariff remains in place.U.S. Treasury yields were little changed in early European trade after they rose across maturities following the U.S.-U.K. trade agreement on Thursday. The two-year Treasury yield was recently down 2.5 basis points to 3.868% while the 10- and 30-year Treasury yields were flat at 4.366% and 4.828%, respectively, according to LSEG data.The dollar turns lower after jumping to a one-month high against a basket of major currencies following Thursday's announcement of a U.S.-U.K. trade agreement. The DXY dollar fell 0.1% to 100.493, having hit 100.862 in Asian trade.Bitcoin just touched a three-month high of $104,324.Oil prices were on track for a weekly gain of more than 3%, buoyed by renewed optimism surrounding global trade negotiations. In early European trade, Brent crude and WTI both rose 0.9% to $63.38 and $60.44 a barrel, respectively.Write to Barcelona Editors at [email protected]