US stocks pulled back on Wednesday as investors weighed a flare-up in US-China tensions over chips and assessed Target (TGT)-highlighted retail earnings for insight into the economic impact of President Trump's tariffs.

Shares of Ross Stores are on track to open lower after the company withdrew its full-year outlook, citing tariff uncertainty from its reliance on Chinese imports. The stock was down 12% at $134.63 in premarket trading. When the market closed Wednesday, shares were up slightly from where they started the year.

Futures on Wall Street are looking to advance after China cited progress in trade talks with the US, stating that both sides will continue communicating. The Dow futures are up 30 points, S&P 500 futures are at the flat line,

And that's why I predict that Apple will be the biggest winner of the U.S.-China tariff agreement -- from an earnings and a share performance perspective.

The stock markets are soaring, but will President Donald Trump also enjoy a political payoff in public opinion polling in the wake of a tariff truce with China?

Despite steep tariffs, the Chinese carmaker leapfrogged Tesla in April, in what an analyst called a “watershed moment” for the continent’s auto market.

Stock market futures in the U.S. surged on Monday as the U.S. and China agreed to temporarily de-escalate their trade war.

Tesla's addition of Chipotle president Jack Hartung to its board of directors helped boost the stock last week. Hartung could aid the board in its quest to explore “alternative ways” to compensate CEO Elon Musk after a Delaware judge invalidated his $56 billion pay package.

The U.S.-China tariff deal sent the tech-heavy Nasdaq soaring, entering a bull market, and economists are optimistic that the U.S. may dodge a recession.

Mainland shares’ premium over Hong Kong will remain on an aggregate level, but certain stocks such as BYD and China Merchants Bank Co that are considered “quality core holdings for foreign investors” have shown discounts, UBS AG strategist James Wang wrote in a note.

NetEase, Inc. (NASDAQ:NTES) reported fiscal first-quarter results on Thursday. The company’s quarterly revenue increased 7.4% year-on-year to $3.97 billion (28.8 billion Chinese yuan), topping the analyst consensus estimate of $3.