11:59 AM EDT, 06/11/2025 (MT Newswires) -- All three major US stock indexes were up around midday on Wednesday after the "done" US-China trade deal and the softer-than-expected US consumer prices in May.

US President Donald Trump said the trade deal with China was "done," subject to his and Chinese President Xi Jinping's approval. US tariffs will be set at 55% and China's at 10%, according to Trump.

The US seasonally adjusted consumer price index rose by 0.1% in May, below expectations for a 0.2% increase in a survey compiled by Bloomberg and following a 0.2% increase in April, the Bureau of Labor Statistics said. Core CPI, which excludes food and energy prices, rose by 0.1%, smaller than the consensus estimate for a 0.3% increase. Core CPI rose by 0.2% in April.

In company news, Tesla (TSLA) shares rose 1.4% after Chief Executive Elon Musk said that some of his recent posts about US President Donald Trump "went too far."

"I regret some of my posts about President @realDonaldTrump last week," Musk said in a post on social media platform X. "They went too far." The White House and a representative of Musk did not immediately reply to MT Newswires' requests for comment on Musk's latest post.

Quantum computing stocks got a boost after Nvidia ( NVDA ) CEO Jensen Huang said the technology was at an inflection point. In the coming years, quantum computing will solve "some interesting problems," Reuters reported, citing Huang. Shares of Quantum Computing ( QUBT ) jumped 26%, Rigetti Computing ( RGTI ) rose 13% and IonQ ( IONQ ) climbed 1.8%.

Nvidia ( NVDA ) said it is collaborating with Novo Nordisk ( NVO ) to advance drug discovery by using artificial intelligence. The companies plan to build customized AI models and agents that Novo Nordisk ( NVO ) can use for early research and clinical development, Nvidia ( NVDA ) said, adding they also plan to use advanced simulation and physical AI technologies.

Meta Platforms (META) and TikTok challenged a European Union supervisory fee in Europe's second-highest court, arguing the levy is disproportionate and based on flawed methodology, Reuters reported.

The two tech giants appeared before the General Court to challenge the fee levied under the Digital Services Act, which subjects major companies, including Meta and TikTok, to an annual supervisory fee of 0.05% of their global net income, used to fund the European Commission's enforcement activities, the report said.

"We are challenging the calculation of this fee on several grounds, particularly the reliance on inaccurate third-party figures to determine our user base," a TikTok spokesperson told MT Newswires in an emailed statement. Meta didn't immediately respond to a request for comment from MT Newswires.

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