US-China Trade Deal Framework Confirmed, Trump Criticizes Powell, Iran Nuclear Talks Denied, NYC Mayor Race Update, Market News

US-China Trade Deal Framework

• 🇨🇳 China has confirmed further details of a trade framework with the U.S., echoing sentiments that a deal was signed.
• 💡 Section 899 in the tax cut bill had previously sparked fears of making it more expensive for foreign entities to invest in the U.S.

Trump Criticizes Fed Chair Powell

• 🗣️ President Trump is again criticizing Fed Chair Jay Powell for not cutting interest rates, stating it would be helpful.
• 📉 Powell, in congressional testimony, suggested the Fed will remain on hold due to a higher inflation outlook.

Iran Nuclear Talks and Facilities

• 🇮🇷 Iran is denying reports of holding nuclear talks with the U.S. next week, dismissing speculation.
• 💥 The Senate received a briefing on U.S. airstrikes on Iran's underground nuclear facilities, with one senator describing the sites as obliterated.
• ❓ Questions remain about the extent to which the Iranian program was set back.
• 🚫 Iran's foreign minister stated damage to facilities was considerable and serious, and Iran does not intend to allow U.N. inspectors.

New York City Mayor's Race

• 🗽 Eric Adams has officially kicked off his re-election campaign as an independent.
• ⚖️ Adams dropped out of the Democratic primary after facing federal corruption charges that were later dismissed.
• 📊 Andrew Cuomo, who came in second in the Democratic primary, has no plans to drop out and will appear on the ballot as an independent.
• 🤝 Billionaire Bill Ackman is looking for suggestions for the best centrist candidate and offering to fundraise.

Market Update

• 📈 Futures are higher as the trading week closes, with stocks near all-time highs.
• 👟 Nike shares are up significantly premarket following its latest earnings report, indicating its year-long sales decline is starting to ease.