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The U.S. has struck a trade agreement with the UK and relations seem to be thawing toward China, but the outlook may be more pessimistic for other countries, according to Goldman Sachs.

The firm’s economic research team, led by Jan Hatzius and Alec Phillips, said in a note to clients that the deal and Thursday’s comments on China pointed toward “de-escalation” but that may not be the case for every country.

“While we do not expect the ‘Liberation Day’ tariff rates to take effect at the end of the 90-day pause, it appears increasingly likely that some if not most trading partners will soon face a renewed threat that country-specific rates will take effect, and points to a higher chance that the US might impose those rates on at least a few trading partners,” the note said.

US prosecutors and regulators investigating a $32 million deal between CrowdStrike Holdings Inc. and a technology distributor are probing what senior company executives may have known about it and are examining other transactions made by the cybersecurity firm, according to two people familiar with the matter.

Lyft shares climbed 20% Friday after the ride-sharing company upped its share buyback plan and posted better-than-expected gross bookings.

During an interview with CNBC’s “Squawk Box,” CEO David Risher said that Lyft isn’t seeing “anything to worry about” despite widespread concerns of a slowing consumer amid ongoing economic uncertainty.

“Our team is stronger than it’s ever been, and the consumer demand is absolutely there,” he said.

Gross bookings grew 13% from a year ago to $4.16 billion, slightly beating a $4.15 billion estimate from StreetAccount. The company said the quarter was its 16th straight period of gross bookings growth.

Federal Reserve Bank of New York President John Williams said keeping inflation expectations anchored near policymakers’ target forms the “bedrock” of central banking.

A “critical lesson” for central bankers is “the importance of maintaining well-anchored inflation expectations, especially when uncertainty is very high,” Williams said at a conference in Reykjavik, Iceland.

US equity investors will be watching closely as trade talks kick off between the Trump administration and China, with trillions of dollars hanging in the balance for American companies.

The average member of the S&P 500 made 6.1% of its revenue from selling goods in China or to Chinese companies in 2024, according to an analysis from Bloomberg Intelligence’s Gillian Wolff and Gina Martin Adams.

Sun Life Financial Inc. beat analyst expectations in the first quarter, fueled by its asset management segment.

The Toronto-based insurance firm reported underlying earnings of C$1.82 per share, better than the C$1.71 predicted by analysts in a Bloomberg survey. Sun Life also raised its quarterly dividend to 88 Canadian cents from 84 cents.

Stocks gained Friday as President Donald Trump suggested many trade deals are near, while also endorsing cutting the tariff rate on China before weekend talks.

The Dow Jones Industrial Average climbed 111 points, or 0.3%. The S&P 500 advanced 0.4%, and the Nasdaq Composite traded 0.6% higher.

“Many Trade Deals in the hopper, all good (GREAT!) ones!,” said Trump on Truth Social, a day after announcing a preliminary trade agreement with the U.K., which is the first deal between the U.S. and a global trading partner since Trump’s “reciprocal” tariff announcement last month.

The Federal Reserve Bank of New York plans on making early-settlement operations for a key liquidity facility part of the regular schedule in a bid to enhance its efficacy for monetary policy implementation and market functioning.

The scheduling tweak to the Standing Repo Facility — or SRF, which allows eligible banks and primary dealers to borrow funds overnight in exchange for Treasury and agency debt at a rate set by the Fed — will take place at some point “in the not-to-distant future,” said Roberto Perli, who oversees the central bank’s securities portfolio,

“Funding liquidity is more likely to remain plentiful if money market rates are not too volatile, which, in turn, depends on the availability and efficacy of monetary policy implementation tools for ensuring rate control within the Federal Reserve’s ample reserves framework,” he said Friday at the Eighth Conference on Short-Term Funding Markets in Washington.

Canada’s tepid pace of job creation last month sent the unemployment rate soaring back to a level last seen in November, the highest since January 2017 outside of the pandemic.

Employment grew by just 7,400 positions in April, and the jobless rate rose 0.2 percentage points to 6.9%, Statistics Canada data showed Friday. The median projection in a Bloomberg survey of economists saw similar numbers of jobs added but anticipated unemployment to increase by a smaller magnitude.

April is the third month in a row where the Canadian economy either saw very little change in employment or job losses, underscoring a slowdown in hiring or downsizing amid trade uncertainty. It’s also the first month where the tariff impact on export-dependent jobs in auto, steel, aluminum and other sectors become more evident.

Oil rose as the market turned its attention to trade talks between the US and China this weekend, after President Donald Trump announced an agreement with the UK.

Brent surpassed $64 a barrel, dipping briefly from session highs after President Trump posted on social media that an 80% tariff on China “seems right”. His administration is weighing a reduction of levies on China to de-escalate tensions and temper the economic pain both countries are already starting to feel.

Crude has tumbled from a mid-January peak on concerns the trade war will dent economic growth, while OPEC+ moved to revive idled production. Measured optimism on the negotiations has helped prices recover some ground after starting the week near their lowest since 2021. There have also been positive signs in fuel markets — one gauge of strength in gasoline is the strongest in about six months.

European leaders presented a united front in the US trade war on Friday, with German Chancellor Friedrich Merz saying individual member states won’t strike side deals and European Commission President Ursula von der Leyen indicating that a concrete proposal is needed for any serious talks with Washington.

The comments underscore the EU’s strategy to stay together and speak with one voice as US President Donald Trump uses the threat of steep tariff hikes to persuade countries to sign bilateral trade deals that would be advantageous to the US. While Trump hailed such a pact with the UK this week as a breakthrough that would open the door to others, there’s been little progress with the EU, which is planning to strike back with counter-tariffs if no compromise can be reached.

European stocks had a positive start to Friday’s trading session, after the U.K. and U.S. confirmed a trade agreement and as investors looked ahead to U.S.-China trade negotiations set to begin this weekend.

The pan-European Stoxx Europe 600 index was 0.4% higher by 9:41 a.m. in London. The U.K.’s FTSE 100 gained 0.4%, while Germany’s DAX and France’s CAC 40 each gained more than 0.5%.

US President Donald Trump floated an 80% tariff on China ahead of negotiations due to begin Saturday as he urged Beijing to do more to open their markets to US goods.

“80% Tariff on China seems right! Up to Scott B,” Trump said in a social-media post Friday morning, referring to Treasury Secretary Scott Bessent.

“CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!,” he said in a separate post.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.