The reason for this significant increase is the statements from Trump's team:
1⃣️ The China-U.S. tension is unsustainable and is about to cool down, which can alleviate concerns about the trade war.
2⃣️ China-U.S. trade negotiations may continue for several months, and the White House stated that Trump is paving the way for an agreement.
3⃣️ Tariffs on China will be significantly reduced; although they won't drop to zero, China will be satisfied.
4⃣️ Trump adjusted his stance, saying he has no intention to dismiss Powell but hopes he will be more proactive on interest rate cuts.
These statements build on each other and have indeed effectively alleviated the market's panic over the trade war and policy uncertainties, leading to a noticeable recovery in market sentiment and an uptick in prices.
However, the market trend still heavily relies on Trump's attitude; in the three months since taking office, we retail investors have truly experienced the extent of his unpredictable nature...