The stock market has surged significantly, with major indices like the Nasdaq Composite rising by 4%. The rally is primarily driven by President Trump's announcement of negotiations with China regarding tariffs, hinting at potential reductions that buoyed investor sentiment. Additionally, Trump's statement confirming that he does not aim to dismiss Fed Chairman Powell has provided further stability. Positive earnings reports, especially from companies like Amphenol Corp, have also contributed to the market's upward momentum at the start of earnings season.
The markets have found their mojo, with all three of the major stock market averages skyrocketing today, led by a 4% pop in the tech-heavy Nasdaq Composite.
Today's positive catalyst has been a Trump administration that is willing to sit at the negotiating table with China on tariffs, including a potential 50% cut to the levies in certain instances.
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