President Donald Trump takes questions from the media following the swearing-in ceremony for David Purdue as ambassador to China at The White House on May 7, 2025 in Washington, D.C.
Ricky Carioti | The Washington Post | Getty Images
Top 10 things to watch Friday, May 9
1. Stocks are set to open higher this morning, building on yesterday’s rally sparked by the announcement of a U.S.-U.K. trade deal, though the momentum faded toward the end of the session.
2. President Donald Trump wrote on Truth Social that a 80% tariff on China “seems right,” but said he’s leaving the decision up to Treasury Secretary Scott Bessent, who is holding trade talks with Chinese officials in Switzerland this weekend.
3. Affirm reported in-line revenues and better-than-expected gross merchandise volume, but shares are sliding after the midpoint of the revenue guide missed the consensus estimate. Susquehanna upgraded the stock to positive.
