"U.S. Treasury Secretary Scott Bessent stated the tariffs conflict with China is unsustainable, anticipating a possible de-escalation in the trade war, boosting investor sentiment."
"Despite fluctuations in market sentiment, U.S. stocks saw a significant rebound after better-than-expected corporate earnings and reassurances regarding ongoing leadership at the Federal Reserve."
U.S. and Asian markets experienced gains fueled by reassuring comments from administration officials regarding trade and Federal Reserve leadership. Notably, Treasury Secretary Scott Bessent indicated a de-escalation in tariff conflicts with China can be expected, while President Trump expressed no intention of dismissing Fed chair Jerome Powell. Despite prior losses, major U.S. stock indices such as the S&P 500 and Dow Jones rebounded significantly amid positive corporate earnings reports. However, concerns linger about potential recession if no trade agreements are reached soon, compounded by the IMF cutting global growth forecasts from 3.3% to 2.8%.
Read at Irish Independent
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