Daily Summary: Trade Deal Sparks Rally as Gold Declines and Bitcoin Breaks $100K

Stocks surge on US-UK trade deal with the S&P 500 jumping 1.4% to 5,686, Dow Jones gaining 1.4% (over 500 points) to 41,523, and Nasdaq leading with a 1.8% increase as investors celebrated President Trump's "breakthrough" trade framework announcement.

Trump unveils UK trade agreement maintaining a 10% baseline tariff while increasing market access for American agricultural exports and allowing 100,000 UK-manufactured vehicles at the lower rate instead of 27.5%, with Commerce Secretary Lutnick noting the tariff "will produce $6 billion of revenue."

Bitcoin surpasses $100,000 milestone for the first time since February, rising as much as 4% to trade at $100,900 amid growing optimism about Trump's trade stance and continued corporate adoption trends that have pushed the cryptocurrency up over 8% year-to-date.

Coinbase announces major acquisition with the largest US cryptocurrency exchange agreeing to purchase crypto options platform Deribit for $2.9 billion, one of the industry's most significant deals ever, sending COIN shares up more than 4%.

Oil rebounds on trade optimism as WTI crude climbed nearly 3% to approach $60 per barrel, recovering from recent losses after OPEC+ had agreed to increase output by more than 400,000 barrels per day starting in June.

Gold maintains safe-haven appeal trading at $3,316.04 after a 2.3% rally amid ongoing US-China trade concerns despite Trump's UK deal, extending its impressive 26% gain this year after hitting a record around $3,500 in April.

Bank of England cuts rates on trade war concerns reducing interest rates to 4.25% from 4.5%, with Governor Andrew Bailey warning about Trump's trade policies weighing on the economy while noting a UK-US trade deal would be "excellent" for economic prospects.

China trade talks on horizon as Treasury Secretary Scott Bessent prepares to meet with Chinese officials this weekend, though Trump indicated he wouldn't reduce his 145% tariffs as a precondition for negotiations, stating "Right now, you can't get any higher. It's at 145%, so we know it's coming down."

British airline commits to Boeing purchase with plans to acquire $10 billion worth of Boeing planes as part of the US-UK trade agreement, though the specific carrier remains unidentified, helping push Boeing shares up 3.1%.

Fed holds rates amid trade uncertainty maintaining its benchmark interest rate at 4.25%-4.5%, with Chair Jerome Powell suggesting a "wait-and-see" approach and highlighting economic uncertainty created by Trump's tariff initiatives.

Gold contracts are losing 1.8% today, falling to around $3,300 and simultaneously testing psychological support. Investors are reducing their emphasis on the risk-off strategy, which is reflected in the sell-off of assets considered safer.