The S&P 500 was up 3.4% in early trading Tuesday. The Dow Jones Industrial Average was up 1,230 points, or 3.3%, and the Nasdaq composite was 3.6% higher. Overseas markets also rose sharply, and the price of U.S. crude oil rose a bit after touching its lowest level in four years.
Treasury yields are also rising again in a potential signal that investors are gaining more confidence in the U.S. economy’s path ahead.
Meanwhile, Chinese Premier Li Qiang on Tuesday spoke on the phone with EU Commission President Ursula von der Leyen saying China and Europe should boost communications, expand opening-up markets to each other and jointly defend free and open trade and investment.
Li defended China’s retaliatory measures to Trump’s tariffs as not only safeguarding China’s interests but also fighting for global trading rules. He said China and the EU can help provide “more stability and predictability” for each other and for the world, according to China’s official news agency Xinhua.
