Wall Street Rises Amid US-China Trade Optimism and Fed Stability

Stocks saw gains on revived US-China trade talks and reassurances from Trump regarding Fed Chair Jerome Powell. Treasury Secretary Bessent's comments on tariffs and potential easing of trade tensions buoyed markets. Tesla and Boeing's financial results also influenced market dynamics, while economic uncertainties loomed.

Wall Street stocks advanced Wednesday due to renewed optimism over US-China trade talks and assurances from President Donald Trump that Federal Reserve Chair Jerome Powell would retain his position.

Stocks initially soared after Treasury Secretary Bessent called existing high tariffs unsustainable, suggesting potential relief in trade tensions, which are viewed as major market drivers.

Tesla reported a significant drop in net profits despite CEO Musk's decision to focus more on his companies, while Boeing and General Dynamics showcased mixed quarterly results, impacting investor confidence amid broader economic fears.

(With inputs from agencies.)