US stocks rallied on Tuesday, with the Dow Jones Industrial Average gaining over 1,000 points and the S&P 500 and Nasdaq Composite rising more than 2.5%. The market rebound followed comments from Treasury Secretary Scott Bessent, who indicated that the US-China trade war could de-escalate soon. President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell had raised concerns about the central bank’s independence.
However, Trump later stated he has no intention of firing Powell, whose term ends in May 2026.
Stocks try to recover after Monday's selloff. Yesterday President Donald Trump met with CEOs of Walmart, Target, and Home Depot to talk tariffs. @KristenScholer has more in the Market Update. $WMT $TGT $HD pic.twitter.com/XzHttzfozT
— NYSE 🏛 (@NYSE) April 22, 2025
Notable movers included GE Aerospace, which rose 6%, and Equifax, which surged 14% after reporting strong quarterly results and announcing a $3 billion share repurchase program. Major technology companies like Tesla, Apple, Amazon, and Meta Platforms also regained ground.
Bitcoin reached about $92,000, its highest level since early March. The surge boosted shares of MicroStrategy, a major holder of the digital currency, by 8%.
Stocks To Watch | 📊Ready, set, trade! Keep an eye on these stocks as they set the market abuzz #StockMarket #TrumpTarrifs pic.twitter.com/aXgljLRho2
— ET NOW (@ETNOWlive) April 23, 2025
Gold futures fell 2% to $3,350 an ounce, while the U.S. dollar index rose 1.4%. West Texas Intermediate crude oil futures were up 1.8% at $64.20 per barrel. Tesla’s first-quarter results fell short of analysts’ expectations, with CEO Elon Musk highlighting uncertainty surrounding trade policies.
#MarketAlert | US: S&P 500 opens 1.1% higher, NASDAQ 100 up 1.2%#SNP500 #NASDAQ pic.twitter.com/x9cV7cslq5
— ET NOW (@ETNOWlive) April 22, 2025
Dow Jones gains on trade hopes
The company did not offer a full-year outlook, promising a more comprehensive update in its second-quarter report. Jefferies analysts noted that mining stocks might have room to rise as gold prices continue to hit record highs. They raised price targets for companies like Barrick Gold, Agnico Eagle, and Alamos Gold
Markets surging more on this headline
*BESSENT SEES DE-ESCALATION WITH CHINA, SITUATION UNSUSTAINABLE
S&P now up 2.7%
— Joe Weisenthal (@TheStalwart) April 22, 2025
In Asia-Pacific markets, Hong Kong led the regional gains, with the Hang Seng Index surging 2.37% and the Hang Seng Tech Index rising 3.07%. Japan’s Nikkei 225 advanced 1.89%, while South Korea’s Kospi ended 1.57% higher. After hours, Tesla shares moved marginally lower after missing analysts’ estimates, Enphase Energy sank more than 12% after missing Wall Street estimates, and Amgen lost almost 6% after warning of a decline in its non-GAAP gross profit margin for 2025.
