CNBC Daily Open: The art of the deal-ish
Chinese president's state visit to Washington appears to have produced more personal diplomacy than breakthroughs.
TL;DR
- U.S. and China agree to reduce tariffs on $30 billion of goods and launch an AI dialogue, but no concrete purchase commitments were made.
- Iran's foreign minister issued threats of 'doomsday' war but also offered diplomacy, maintaining market uncertainty and contributing to higher oil prices.
- Treasury yields reached their highest levels since 2007, impacting borrowing costs for infrastructure projects.
- China may allow domestic firms to purchase Nvidia chips, signaling a potential thaw in tech relations.
- Discussions between the U.S. and South Korea focused on the transition of wartime operational control (OPCON).