Stocks rallied Wednesday as markets welcomed signs of easing tensions from the White House. President Donald Trump reassured investors he would not attempt to fire the Federal Reserve chair, while Treasury Secretary Scott Bessent signaled a potential “de-escalation” in the ongoing tariff standoff with China.
“There is an opportunity for a big deal here,” Bessent said during a morning speech, offering a more conciliatory tone amid volatile trade negotiations.
In the U.S., we have seen an incredible boom on Wall Street.
— Treasury Secretary Scott Bessent (@SecScottBessent) April 23, 2025
Wall Street can continue doing well. But its Main Street’s turn to share in the prosperity.@USTreasury and this administration are determined to fix the stagnation on Main Street. pic.twitter.com/QLlOVrAiTF
The S&P 500 rose 1.63% by midday, with the Dow Jones up 462 points (1.18%) and the Nasdaq surging 2.41%. Gains followed a strong Tuesday rebound and reflected investor relief after weeks of economic policy whiplash.
Despite China warning the U.S. to stop its “bullying,” markets responded positively to the shift in rhetoric. The S&P remains 11.7% below its peak this year, but optimism over a more stable economic approach lifted global markets.
