Digest | 13 May 2025
- Edward von der Schmidt
- May 14
- 3 min read
Geopolitical concerns dominated Tuesday's headlines against steady US trading that saw the S&P 500 climb modestly. President Trump kicked off a Middle East tour that signaled Saudi Arabia's prominence as an ally, the rise of chip diplomacy, and a more transactional approach to diplomatic relations in general. Will-they-or-won't-they speculation surrounded the possibility of bilateral talks in Turkey between Russia and Ukraine on Thursday with US officials set to attend. Muted disinflation in April belied higher prices in the offing and prompted the administration's renewed calls for easing ahead of an important Fed research conference later this week. House GOP lawmakers continued to deliberate tax and spending legislation as CBO assessments came in.