Stock futures moved higher Wednesday after China and the U.S. reached a trade policy consensus and month-over-month inflation rose less than expected. Futures tied to the S&P 500 added 0.4%, while Nasdaq 100 futures jumped 0.5%. Dow Jones Industrial Average futures increased 123 points, or 0.3%. U.S. and Chinese officials reached a consensus on trade after a second day of talks in London. U.S. Commerce Secretary Howard Lutnick said he and U.S. Trade Representative Jamieson Greer will return to Washington to “make sure President Trump approves” the deal outline. As part of the framework, China would approve the exports of rare earth minerals. Meanwhile, the U.S. would roll back sales restrictions of advanced tech goods to China. The discussions are a key focus for investors that remain jittery toward any jolts on trade policy. Both China and the U.S. previously agreed to temporarily lower high tariffs on one another in May, although a fully ironed-out agreement has yet to materialize. Stocks rose Tuesday as traders grew optimistic that a deal would be reached. But “one key concern is that the Trump administration, buoyed by the market rebound, may resume aggressive tariff rhetoric—potentially triggering renewed retaliation from China and Europe, as seen earlier this year,” Deutsche Bank chief economist David Folkerts-Landau said in a Tuesday note. “At the same time, rising long-end bond yields are amplifying fiscal concerns globally, particularly given plans for expanded deficits across multiple major economies,” he added. “With several countries already on unsustainable debt paths, the events of 2025 may have accelerated an inevitable reckoning.” Treasury yields moved slightly higher on Wednesday after U.S. and Chinese officials agreed to a framework on trade. The 10-year Treasury yield was up by 2 basis points at 4.494%. The 2-year yield advanced 1.5 basis points to trade at 4.027%. The 30-year yield climbed 2 basis points to 4.377%. Asia-Pacific markets climbed Wednesday as trade discussions between the U.S. and China led to an agreement, representatives from both sides said. Mainland China’s CSI 300 index advanced 0.75% higher to close at 3,894.63 while Hong Kong’s Hang Seng Index rose 0.79%. Japan’s benchmark Nikkei 225 added 0.55% to end the trading day at 38,421.19 while the broader Topix index was flat at 2,788.72. In South Korea, the Kospi index advanced 1.23% to close at 2,907.04, its highest since January 2022 according to LSEG data. The small-cap Kosdaq popped 1.96% to close at 786.29. Australia’s S&P/ASX 200 increased by 0.06% to close at 8,592.1 after briefly hitting a new high earlier in the session. Oil prices rose to a seven-week high on Wednesday as markets assessed the outcome of U.S.-China trade negotiations, while pessimism over U.S.-Iran nuclear talks also provided support. Brent crude futures were up 82 cents, or 1.2%, to $67.69 a barrel, while U.S. West Texas Intermediate crude was up 96 cents, or 1.5%, to $65.94. Gold prices firmed on Wednesday as investors stayed cautious amid lingering uncertainty over the U.S.-China trade truce and waited for key inflation data for clues into the Federal Reserve’s interest rate trajectory. Spot gold gained 0.4% to $3,336.20 an ounce. U.S. gold futures rose 0.4% to $3,347.