#MarketRebound
Stocks surged on Wednesday on hopes that U.S.-China trade tensions could soon ease, while President Donald Trump signaled he doesn't plan to remove Federal Reserve Chairman Jerome Powell from his post as central bank leader.
The Dow Jones Industrial Average popped 534 points, or 1.4%. The S&P 500 climbed 1.8%, and the Nasdaq Composite rallied 2.7%.
Trump said Tuesday he's willing to take a less confrontational approach to trade talks with China, noting that the current 145% tariff on Chinese imports is "very high, and it won't be that high. ... No, it won't be anywhere near that high. It'll come down substantially. But it won't be zero."
Treasury Secretary Scott Bessent also said Wednesday that both countries have the chance to make "a big deal" on trade. "If they want to rebalance, let's do it together," Bessent said.
