The S&P 500 Index ($SPX) (SPY) Wednesday closed up +1.67%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.07%, and the Nasdaq 100 Index ($IUXX) (QQQ) close up +2.28%. June E-mini S&P futures (ESM25) are up +1.70%, and June E-mini Nasdaq futures (NQM25) are up +2.35%.
Stock indexes on Wednesday rallied for the second session, with the S&P 500 posting a 2-week high and the Nasdaq 100 posting a 1-week high. Stocks rose Wednesday in hopes of better US-Chinese trade relations after President Trump said he plans to be "very nice" to China in any talks and that tariffs will drop if the two countries can reach a trade deal. Stocks also rose after President Trump said late Tuesday that he had no intention of firing Fed Chair Powell, boosting confidence in the dollar and reducing the prospects that foreign investors would liquidate their dollar holdings, including stocks and Treasuries.
