U.S. stocks have been shut down higher as investors welcomed signs of progress in trade policy and handled a surge in corporate revenue.
The Dow Jones industrial average rose 300 points, or nearly 0.75%, with the S&P 500 adding 0.6% and the NASDAQ Composite adding 0.5%.
The bounce gained momentum in the afternoon after U.S. Commerce Secretary Howard Lutnick told CNBC that the trade deal with the unknown country was “end” but was awaiting approval. Investors interpreted the statement as a positive signal amidst the uncertainty surrounding Trump’s trade strategy.
Despite the rally, his new term, President Donald Trump’s first 100 days were the worst for the market when he began his first presidency since Richard Nixon in 1973.
The S&P 500 is on track with its biggest losses in the first 100 days of its presidential term, spanning over 50 years.
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Trump’s automatic presidential order
Previously, Trump signed an executive order to prevent duplicate car rates, providing a reprieve to automakers who are already nervous about existing taxes.
Having recorded stronger revenue than expected, General Motors pulled out guidance for 2025 and suspended stock buybacks while still clarifying.
Amazon’s shares also reversed the loss after rejecting plans to display tariff-related additional charges on its site. The White House called the rumoured moves “hostile and political acts.”
Revenue was focused and was scheduled after Spotify and Coca-Cola reported before Bell and Starbucks ended. Honeywell jumped 5% after a solid revenue beat, leading the Dow high.
Still, economic data highlights broader uncertainty. Consumer trust has declined for the fifth consecutive month, with job openings hovering at their lowest in four years.
Bitcoin (BTC) traded mostly around a $95,000 threshold.
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