Among companies with a capitalization of at least $10 billion, the biggest gainer last week was the American digital advertising platform provider The Trade Desk, whose shares rose by 31.34% over the past business week. The price of one share reached $71.04. Next is Hims & Hers Health. The shares of this American healthcare company rose by 27.29% over the past business week, reaching $51.96. Next is Ubiquiti, a manufacturer of wireless and wired communication equipment, with a 20.64% increase. The price of one share of this company is $413.52.

The top three largest-cap companies that lost the most last week are pharmaceutical companies. This top three starts off with argenx SE, whose share price fell by 15.45% in a week and is now $549.27. Next is Vertex Pharmaceuticals, whose share price fell by 15.20% and reached $424.99. And this top three concludes with Summit Therapeutics. The share price of the American pharmaceutical company fell by 14.12% and is now $23.96.

Wall Street ended last week largely unchanged as investors awaited the outcome of US-China trade talks scheduled for the weekend in Switzerland. The S&P 500 fell marginally on Friday, down 0.07%, the Dow Jones Industrial Average fell 0.29%, and the Nasdaq Composite was practically flat. For the week, the S&P 500 fell 0.47%, the Nasdaq lost 0.27%, and the Dow Jones Industrial Average fell 0.16%.

Investors were encouraged by signs of progress in US-China trade talks over the weekend. US stock futures were already up Sunday evening. S&P 500 futures rose 1.3% and Nasdaq went up 1.6% after negotiators reported significant progress during two days of talks in Switzerland. US officials announced an agreement to reduce the US trade deficit.

Optimism about easing trade tensions had a positive impact also on European stock markets. On Friday, the German DAX index reached a record high, rising by 0.6%, and the broader European STOXX 600 index rose by 0.4%. The growth of European stocks was led by shares of energy companies, followed by auto companies.

Investors pulled $16.2 billion out of US stock funds last week. It was the fourth straight week of outflows from these funds. Large-cap stock funds took the biggest hit, losing $13.6 billion. But the opposite picture is for US bond funds. They attracted $3.5 billion last week, the most in the past eight weeks. Money market funds also saw a big jump, with inflows of $28.4 billion, the highest since early March.

Pinterest shares rose more than 11% last Friday after the company reported a revenue growth outlook showing that global trade tensions were not impacting the advertising market. Pinterest has seen solid results thanks to its artificial intelligence-powered advertising tools. In addition, the number of users on this platform grew by 10% in a month to 570 million.

Tesla shares rose 4.7% last Friday, hitting their highest level since February. The company’s shares have risen nearly 15% in the past three weeks, driven by optimism about US-China trade talks and signs that Tesla CEO Elon Musk plans to focus more on the company than on his work in US President Donald Trump’s administration. Despite these successes, Tesla still faces the challenge of weak sales in Europe.

The US Federal Reserve has left the refinancing rate unchanged at 4.25% to 4.5%. And as justification for this decision, it cited growing uncertainty about the economy, including risks of inflation and sluggish growth, which are warning signs of possible stagflation. The US GDP fell 0.3% in the first quarter, while inflation is hovering just above 2%. US Federal Reserve chairman Jerome Powell said the economy is still in a solid position, but concerns about tariffs and trade policy, especially with China, are raising doubts about the economic outlook.

The Bank of England has cut its refinancing rate by 0.25 percentage points to 4.25 percent. The bank said new trade barriers were likely to slow the UK economy and reduce inflation over time. The bank now expects UK inflation to hit 3.5 percent this year, returning to its 2 percent target sooner than previously expected.

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