By Mike Dolan Morning Bid U.S. A look at the day ahead in U.S. and global markets from Mike Dolan The furious April for U.S. markets has calmed down a bit as the month draws to a close on Wednesday, and now its time to consider the costs to the real economy.

U.S. Treasury Secretary Scott Bessent on Sunday did not back President Donald Trump's assertion that tariff talks with China were under way and said he did not know if the U.S. president had talked to Chinese President Xi Jinping.

President Trump said Sunday that his sweeping tariffs would help him reduce income taxes for people making less than $200,000 a year.