Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com -- Shares in AP Moeller - Maersk A/S B (CSE:MAERSKb) soared more than 12% Monday after the Danish shipping group said that the latest agreement between China and the U.S. to halt tariffs and reciprocal trade measures for 90 days was a step in the right direction.
"We hope it can lay the foundation for the parties to also reach a permanent deal that can create the long-term predictability our customers need," the company said in an emailed statement.
"Right now, our customers have gotten 90 days of clarity with reduced tariffs, and we are working hard to help them make the best use of this window," it added.
Other shipping stocks, such as Germany’s Hapag Lloyd AG (ETR:HLAG), also jumped sharply.
Before the agreement, shipping stocks had been under pressure amid widespread reports of collapsing U.S.-China trade flows.
Several headlines in recent weeks pointed to steep falls in shipping volumes and orders as tariff tensions escalated.
However, a ship-tracking analysis by UBS paints a different picture.
According to the bank, there has been no significant drop in the number of container and cargo ships leaving Chinese ports for U.S. destinations, nor in their crossing of the Pacific.
“The series is quite volatile but at the daily frequency, there is again no obvious drop-off,” UBS strategists said, suggesting the perceived weakness may have been driven by misinterpretation of third-party data such as Bloomberg’s TRVSDCVN index.
UBS also highlighted that port throughput data from China—the earliest link in the supply chain—continued to show stable activity. While order cancellations could still affect future volumes, the bank found no current signs of major disruption, with recent shipping movements remaining within historical volatility.
The U.S. and China agreed Monday to suspend most tariffs for 90 days, marking a significant de-escalation in trade tensions between the two countries.
Under the agreement, reciprocal tariffs will be reduced from 125% to 10%, though the U.S. will maintain its 20% duties on Chinese imports linked to fentanyl. That leaves total U.S. tariffs on Chinese goods at 30%.
The deal followed high-level negotiations in Switzerland over the weekend. “We had very productive talks and I believe that the venue, here in Lake Geneva, added great equanimity to what was a very positive process,” U.S. Treasury Secretary Scott Bessent said.
“We have reached an agreement on a 90-day pause and substantially move down the tariff levels. Both sides on the reciprocal tariffs will move their tariffs down 115%,” he added.
The pause takes effect Wednesday, with both sides pledging to continue broader discussions on trade and economic policy.
Investor sentiment improved following the tariff reprieve, with Nasdaq futures up 3.7%, S&P 500 futures rising 2.7%, and Dow futures climbing more than 840 points, or 2%.