In 100 days full of surprises for investors, the S&P 500 and Dow nearly recouped their April declines – even with a worse-than-expect GDP report.

Japanese Finance Minister Katsunobu Kato drew attention by mentioning that the country’s more than $1.1 trillion in U.S. Treasury bonds could potentially be a “card on the table” in negotiations with Washington over Trump’s steep tariffs on autos and other imports.

Officials in Beijing said they want Washington to “show sincerity,” as it evaluates purported overtures by the U.S. to start trade negotiations.