Stocks Notch Back-to-Back Gains as Dollar Climbs

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Signs Donald Trump is rethinking the most-aggressive elements of his combative stances on trade and the Federal Reserve spurred back-to-back gains in stocks and the dollar, while soothing volatility across asset classes.The S&P 500 rose 1.7%, though it pared an earlier surge that had swelled to as much 3.4%, as investors tried to gauge how seriously to take pronouncements of flexibility in negotiations with China and other trading partners. The greenback climbed against most major currencies.After a report that the US would be willing to phase in lighter tariffs on Beijing over five years on Wednesday, Trump told reporters that China was “going to do fine” once talks had settled. Meantime, Treasury Secretary Scott Bessent said the president hasn’t offered to take down US tariffs on China on a unilateral basis.Long-maturity Treasury yields fell as Trump allayed fears he would fire Fed Chair Jerome Powell. The yen slid as Bessent said America won’t be pursuing specific exchange-rate targets in its talks with Japan. Bitcoin jumped while haven trades like gold pushed lower.Today's show features: Eric Weiner, Bloomberg News Senior Editor, Equities Americas Katy Kaminski, Chief Research Strategist of AlphaSimplex Jefferies Senior Technology Research Analyst Brent Thill on IBM earnings Ross Gerber, President and CEO Gerber Kawasaki Wealth and Investment Management See omnystudio.com/listener for privacy information.

There are no comments yet.

Please log in to write the first comment.