The stock market surged in early trade as investors cheered positive signals from Trump administration on trade and Fed Reserve.
The stock market rose sharply on Wednesday with news of a potential de-escalation in the U.S. trade war with China and the Trump administration’s plans to keep Federal Reserve Chair Jerome Powell in place triggering a relief rally.
The Dow Jones Industrial Average soared over 1,000 points, or 2.6% in early trading, after making similar headway yesterday. The S&P 500 and tech-heavy Nasdaq Composite also made gains, climbing 168 points, or 3.2%, and 664 points or 4.1%, respectively.
Mr. Trump signaled yesterday that tariffs on China, which currently stand at 145%, would come down «substantially.» China has also imposed a high levies on American goods, with tariffs totaling 125%. The president also said on Tuesday he has «no intention of firing» Federal Reserve chair Jerome Powell.
Hubert de Barochez, a senior markets economist at Capital Economics said Mr.
