Wall Street rises on US-China trade optimism, energy boost
By Abigail Summerville and Sukriti
Gupta
Tue February 4, 2025 4:43 PM
The recovery that started yesterday, though it never did reach break-even, continued in earnest today with all three indexes on a steady upward climb with the Dow and Nasdaq notching 3-digit gains, more than making up Monday’s losses. With the tariffs for Mexico and Canada now on pause, investors took hope today that a similar deal will also be reached with China, though Trump has indicated he is in no hurry to negotiate with Xi.
But the hope was enough to keep the rally going, though all admit that the game may once again change completely when the pause ends in a month. Good news came on the inflation front with job openings less than expected and overall good news with Q4 continuing to go so well. Almost half of all companies have now reported with 77% beating expectations. But today Fed officials came right out and explicitly said that the threat of inflation-stoking tariffs and the uncertainty they bring is the main reason why the much wanted future rate cuts have been slowed. Volume came in at 13.4 billion, well below the 15.5 billion average.
DJ: 44,421.91 -122.75 NAS: 19,391.96
-235.49 S&P: 5,994.57
-45.96 2/3
DJ: 44,556.04 +134.13 NAS: 19,654.02
+262.06 S&P: 6,037.88
+43.31 2/4
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