<ul><li>A US–Saudi trade deal, including a rollback of tariffs, boosts market sentiment, leading to a surge in equities and crypto markets.</li><li>The S&P 500 erases previous losses, reflecting increased investor confidence amid easing trade tensions and potential interest rate cuts.</li><li>US CPI data trending lower sparks optimism for rate cuts, although the Federal Reserve maintains caution, with expectations of two rate cuts in the near future.</li><li>Crypto assets outperform other classes, with Bitcoin and Ethereum nearing record highs, while attention is drawn to Coinbase's upcoming addition to the S&P 500 on May 19.</li></ul>

Markets Soar as US–Saudi Trade Deal Ignites Risk Rally; Crypto Outperforms

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