The stock market will rebound for the second day in a row as the White House signalled even stronger.
- All major stock indexes rose After a morning speech by Treasury Secretary Scott Bescent on Wednesday, promising that the US would not abandon global trade. Elsewhere on the market, bond yields have declined slightly, the US dollar has risen, both of which have signs of encouragement.
US stocks continued their rally on Wednesday as they welcomed news that the White House was intended to ease its stance on tough tariff policy.
The S&P 500 rose 1.67% Nasdaq and 2.5%, and Dow 419 points (1.07%) that day.
Stocks have risen for the second consecutive day since earning profits on Tuesday. Meanwhile, gold prices fell 3.33% to $3,305 after reaching an all-time high of $3,500 on Tuesday. Gold, along with Bitcoin, has become a safe haven for investors eager to cover amid the ongoing turmoil in the stock market. However, as stocks stabilized, demand for those assets subsided.
Investor relief came from Treasury Secretary Scott Bescent speech In his remarks at the International Financial Research Institute in Washington, D.C. on Wednesday morning, Becent reiterated the US’s commitment to remain a major player in international trade, as he feared the US would be completely separate from global trade.
“I want to be clear: America doesn’t just mean America,” Bescent said. “On the contrary, it is a call for deeper cooperation and mutual respect between trading partners.”
Bescent has also been pulled back from the Trump administration’s harsh tone on China, which was chosen with a 145% tariff. Now it’s like the White House Create a clearer overture He invites his Chinese counterparts to work on a trade contract.
“Everyone knows there’s a need to change (China),” Bescent said. “And we want to help it change because we need to rebalance too.”
In the worst case scenario, fear of a complete trade conflict that could lead to a true decoupling between the two biggest economies of the world ripples across the market.
“The gradual lighting of today’s dark global trade tunnels provides investors with a degree of guarantee regarding Trump’s investment,” wrote Jose Torres, a senior economist at interactive broker. Investment paper Trump reverses tariff courses to keep the stock market happy.
The bond market and the US dollar also began to recover after a sudden decline in days that showed an extraordinary lack of faith in the US economy. Yields on the 20 and 30-year memos fell slightly on Wednesday. The 10-year yield also fell slightly. The US dollar rose 0.93% against a basket of similar currencies.
Bitcoin rose 0.22% per day. Wednesday’s move, however, broke slightly, but slightly, the pattern that began in the past few days when Bitcoin moved backwards to stocks. Historically, the two have been moving in sync with each other.
“We have the intuition that BTC strength is a result of weaknesses in the dollar index. Bitcoin recovered at the same time as gold, yen, Swiss franc and euros.”
This story was originally introduced Fortune.com