U.S. stock markets rose for a second consecutive day after President Trump assured investors that he would not fire Federal Reserve Chair Jerome Powell, easing concerns about the central bank's independence. The Dow Jones climbed over 500 points, buoyed by optimism regarding potential tariff reductions with China. Treasury Secretary Scott Bessent commented on the need for China to enhance consumption. However, caution remains among investors due to Trump's previous threats to Powell and the ongoing potential for tension in trade relations.
Stocks increased as President Trump indicated he wouldn't fire Fed Chair Jerome Powell, bringing optimism amid trade war tensions with China.
Despite the market's recovery, investors remain wary due to Trump's complicated relationship with Powell and potential interference in monetary policy.
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