Wall Street continued to rise on Wednesday, as all major stock indices ended the day up, extending the rally that started earlier in the week.


The S&P 500 rose by 0.10%, reaching 5,892.58, which was enough to bring it into positive territory for the year. The Nasdaq Composite performed even better, climbing by 0.72%, closing at 19,146.81.

The Dow Jones Industrial Average was the only one to fall, dropping by 89.37 points, or 0.21%, closing at 42,051.06, according to CNBC data. However, all three indices rose over the week.
This rise occurred amid increasing investor confidence due to reduced tensions between the U.S. and China, especially after both countries lowered tariffs. The U.S. reduced duties on Chinese goods to 30%, while China lowered its tariffs to 10% on imports from America.

These cuts came after both sides threatened to impose tariffs above 100% in April. Now that this threat has been suspended, buyers have started to take more risks again, boosting market activity.

Tech stocks were at the forefront. Nvidia rose more than 4% after announcing plans to supply 18,000 of its top AI chips to Saudi Arabia. Just this news was enough to invigorate the chip sector. AMD lagged slightly behind, with its shares also rising more than 4% thanks to a recently announced $6 billion stock buyback program. Such an aggressive move by AMD gave investors something tangible to grasp.

Together, these two steps helped spark a powerful surge in the Nasdaq, which has now risen more than 6% this week. The S&P 500 rose more than 4%, and the Dow was up nearly 2%. Moreover, the S&P 500 had previously fallen more than 20% from its February peak, but has now recovered more than 21% from the intraday low of April 7. Such a rebound doesn't happen quietly.

The agreement to ease tariffs has given the entire market a new burst of energy, even if it hasn't been fully realized yet. Adam Turnquist, the chief technical strategist at LPL Financial, said: "While this progress has likely led to a peak in investor fear and political uncertainty, there is still much unknown regarding where tariff rates will ultimately land." But as far as short-term sentiment goes, buyers welcomed this news.
However, Donald Trump stated that a final agreement between the two countries will not happen anytime soon. That's why traders are not going all-in just yet. They are playing it safe, buying on dips and refraining from chasing rallies.

Daniel Skelly, who heads the asset management market strategy at Morgan Stanley, said: "The next step up will have to wait for political initiatives that could provide a tailwind in 2026, including deregulation and a growth-friendly tax bill."

Deutsche Bank also added its voice. Maximilian Ulehr, a strategist, wrote: "Looking ahead, in the short term, we expect the recent outperformance of the S&P 500 to continue, as American companies are the bigger beneficiaries of lowered tariffs." But he also warned that these tariffs, even reduced, will still hit American companies harder than European ones, and relief won't come without deeper cuts.

Not everything is going smoothly. Tesla is showing technical signs of stress, according to an S3 Partners report, which tracks short-selling activity.

Matthew Unterman, who wrote a note, stated that Tesla's relative strength index (RSI) crossed 70, and the stock is currently above the upper Bollinger band — both signs that the stock may be overbought. These indicators typically suggest that price pressure is building.

Matthew also noted that short interest remains stable but is close to 3% of the free float, which could lead to a surge in selling if it exceeds that.

#TrumpTariffs


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