Chip stocks including Nvidia and Broadcom rose sharply Wednesday, a day after President Donald Trump reportedly said the administration's tariffs on China "will come down substantially."
The prospect of negotiations between Washington and Beijing, currently locked in an escalating tit-for-tat tariff war, helped lift sentiment after a Wall Street Journal report cited a senior White House official as saying that U.S. tariffs on China were likely to come down to between roughly 50% and 60%. The three main indexes were already in recovery mode after Trump said late on Tuesday he had "no intention" of firing Powell, walking back last week's market rattling comment that the Fed chair's termination could not come "fast enough" that had drawn heavy criticism.
Chinese sellers are now forced to play by the same rules as U.S.-based vendors. The post E-commerce margins set to rise as trade war reshapes market: ShipHero CEO appeared first on FreightWaves.
U.S. stocks rallied in early trading on Wednesday, one day after President Donald Trump said tariffs on China would “come down substantially.” Trump also appeared to soften previous attacks on the Federal Reserve, saying late Tuesday he has "no intention" of firing top central banker Jerome Powell. In public remarks on Wednesday, Treasury Secretary Scott Bessent said the U.S. is willing to negotiate with China, which sent markets higher.
Investors liked the earnings report from Ryder, even though its gains over the 12 months were limited. The post Ryder’s mildly positive earnings report gets strong support on Wall Street appeared first on FreightWaves.
Tesla shares climbed Wednesday as investors focused on comments from Tuesday's earnings call rather than the electric vehicle maker's disappointing first-quarter results.
Big Tech stocks surged for a second day, with Tesla and Amazon leading the so-called ‘Magnificent Seven’ stocks higher as the Trump administration hinted at a deescalation of the US-China trade war.
President Trump hinted at a trade war deescalation with China and said he has "no intention of firing" Fed Chair Jerome Powell, sending stocks soaring on Wednesday.
Tesla reported first quarter earnings after the bell on Tuesday that were short of estimates, but Elon Musk's plans to pare back his DOGE activities sent shares higher.
All major indices show substantial early gains.