Wall Street actions advanced thanks to the renewed hope of progress in the commercial dispute between the United States and China, since President Donald Trump calmed the fears that the Federal Reserve could lose its autonomy by ensuring that “it has no intention of saying goodbye” to its president, Jerome Powell.
According to preliminary data, the S&P 500 won 1.62% to close at 5,373.58 points, while Nasdaq Composite won 2.50% to 16,698.84 and the Dow Jones industrial average rose 1.05% to 39,600.02.
The three main US stock market indices cut their profits at the close of the session. They charged impulse during the session after the Treasury Secretary, Scott Besent, declared that high tariffs between the United States and China were unsustainable and Trump indicated their willingness to relieve commercial tensions between the two largest economies in the world.
“We had such a strong openness that was closely related to the events in Washington,” said Russell Price, chief economist of America in Troy, Michigan.
“That is because President Trump said he has no intention of saying goodbye to Jerome Powell since we could see a substantial reduction in tariffs” that are currently applied to China.
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The First Quarter Results Season has reached its peak, with 110 companies of the S&P 500 presenting its results.
Of these, 75% have exceeded Wall Street estimates, according to LSE. Analysts now expect added growth of the profits of the S&P 500 of 8.4% for the period from January to March, compared to 8.0% to April 1, according to LSEG.
Tesla’s actions went up after executive director Elon Musk announced that he would significantly reduce his work with the Trump government to devote more time to the management of his companies. Even so, the electric car manufacturer recorded a 71% drop in its quarterly net benefits.
Boeing reported a minor quarterly loss than expected, since the aircraft manufacturer produced and delivered more aircraft, which promoted its upward actions.
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With Reuters information
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