U.S. stocks rebounded as major indices saw gains, with the Dow Jones Industrial Average rising more than 400 points. The Nasdaq and S&P 500 indices also advanced. Investors shifted their attention to corporate earnings, aiming to stabilize after a sell-off triggered by former President Trump’s criticism of Federal Reserve Chair Jerome Powell. The Dow increased by over 480 points, while the Nasdaq and S&P 500 gained nearly 1.3% and 1.1%, respectively.
Despite ongoing tensions between Trump and Powell, safe-haven assets like gold and Bitcoin saw increased demand. Gold prices hit a record high, surpassing $3,500 per ounce before slightly retreating. Meanwhile, Tesla (TSLA) anticipated releasing its Q1 earnings, and Lockheed Martin (LMT) surged 4.1% pre-market due to better-than-expected revenue. The market showed signs of stabilization following the prior day's pressures.
Elsewhere, the U.S. and India made significant progress in trade talks, with India urged to increase U.S. goods purchases, especially in energy and military equipment. The U.S. also imposed tariffs of up to 3,521% on solar imports from four Southeast Asian countries, boosting solar stocks.
