Wall Street Soars on Greenland Framework and Tariff Victory

Wall Street indices surged after a framework agreement on Greenland was announced, averting new U.S. tariffs on European allies. This marked the biggest one-day percentage gain for the S&P 500 in two months, with the Dow and Nasdaq also experiencing significant gains.

Wall Street closed with impressive gains on Wednesday, highlighted by the S&P 500 achieving its largest single-day percentage increase in two months. The surge was sparked by news of a framework for an agreement concerning Greenland, which quelled fears of new U.S. tariffs on European allies.

The Dow Jones Industrial Average and Nasdaq Composite both recorded milestone performances, as investors reacted to the aversion of trade tensions. President Trump announced on his Truth Social platform that he would not impose the planned tariffs due to the newly-formed framework agreement on Greenland.

Investors were cheered further by robust earnings from major U.S. banks, bolstering the regional banking index. Notably, Citizens Financial Group and Truist Financial Corp reported significant profit increases, driving positive sentiment across the financial sector. Meanwhile, energy stocks were buoyed by strong natural gas prices and promising corporate earnings.

(With inputs from agencies.)