U.S. stocks surged as President Donald Trump decided to ease certain tariffs, sparking optimism that a severe trade war might be averted, which could otherwise damage economies and increase inflation.
The S&P 500 climbed 1.1% on Wednesday, rebounding after previous sell-offs had wiped out all of the gains since Trump was elected. Both the Dow Jones Industrial Average and the Nasdaq composite also rose by 1.1% and 1.5% respectively.
This market upswing followed Trump’s announcement of a one-month reprieve for U.S. automakers regarding his newly imposed tariffs on Mexican and Canadian imports. The positive reaction in stock for companies like Ford and General Motors contributed significantly to the market’s rise.
On Wednesday, the indices reflected these changes:
The S&P 500 increased by 64.48 points, a 1.1% rise, reaching 5,842.63.
The Dow Jones Industrial Average went up 485.60 points, also a 1.1% increase, to 43,006.59.
The Nasdaq composite grew by 267.57 points, or 1.5%, hitting 18,552.73.
The Russell 2000 index, which includes smaller companies, rose 21.22 points, or 1%, to 2,100.75.
Despite Wednesday’s rally, weekly figures still show declines:
The S&P 500 fell by 111.87 points, a 1.9% drop.
The Dow decreased by 834.32 points, or 1.9%.
The Nasdaq fell by 294.55 points, or 1.6%.
The Russell 2000 showed a larger drop of 62.32 points, or 2.9%.
Looking at the figures for the year so far:
The S&P 500 is down 39 points, representing a 0.7% decrease.
The Dow, however, has risen by 462.37 points, a 1.1% increase.
The Nasdaq composite is down significantly by 758.06 points, or 3.9%.
The Russell 2000 has dropped by 129.41 points, showing a 5.8% decline.
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