Stocks Jump On Trump's Trade Deal Deluge Ahead Of Big Tech Earnings: What's Moving Markets Wednesday?
A wave of U.S. trade deals with key allies over the past 24 hours reignited Wall Street's rally and boosted investor risk appetite across global markets.
President Donald Trump announced agreements with the Philippines, Indonesia and—most significantly—Japan, while the Financial Times reported that a U.S.-EU trade deal is imminent, expected to mirror the Tokyo framework.
The U.S.-Japan pact raises the baseline tariff on Japanese goods to 15% from 10%, sidestepping the previously threatened 25% level. Tariffs on Japanese autos have been cut from 25% to 15%. In return, Japan committed to investing $550 billion in the U.S. and easing access to American agricultural and industrial goods.
Markets cheered the progress. The S&P 500 rose 0.5% to a new record high of 6,350, while the Dow Jones Industrial Average surged nearly 1%, or 450 points, nearing its own record. Small-cap stocks led the charge, with the Russell 2000 also jumping 1.0% to its highest level since February.
International equities soared even more. The iShares MSCI Japan Index Fund (NYSE:EWJ) rallied 4.9% to an all-time high, the SPDR DJ Euro STOXX 50 ETF (NYSE:FEZ) climbed nearly 2%, and the iShares MSCI Mexico ETF (NYSE:EWW) gained 2.1%.
As optimism over global trade thawed investor caution, demand for safe-haven assets dropped. Gold slid 1.4% to $3,383 per ounce, while silver dipped 0.3%. Bitcoin (CRYPTO: BTC) fell 2% to $117,760.
Next up: a major earnings test. Alphabet Inc. (NASDAQ:GOOGL), Tesla Inc. (NASDAQ:TSLA), ServiceNow Inc. (NYSE:NOW) and IBM (NYSE:IBM) are all set to report results after Wednesday's close.
Wednesday’s Performance Of US Indices, ETFs
Major Indices
Price
% Chg
Russell 2000
2,272.31
1.0%
Dow Jones
44,892.90
0.9%
S&P 500
6,340.17
0.5%
Nasdaq 100
23,077.71
0.1%
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.5% to $580.89.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.9% to $448.95.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) held steady at $561.44.
- The iShares Russell 2000 ETF (NYSE:IWM) soared 1.1% to $225.66.
- The Industrials Select Sector SPDR Fund (NYSE:XLI) outperformed, up 1.8%; the Utilities Select Sector SPDR Fund (NYSE:XLU) lagged, down 0.8%.
Wednesday’s Stocks Movers
- GE Vernova Inc. (NYSE:GEV) soared 13% after beating the Street’s estimates last quarter.
Other stocks reacting to earnings reports included:
- Intuitive Surgical Inc. (NASDAQ:ISRG) down 3.54%
- Texas Instruments Inc. (NASDAQ:TXN) down 11.80%
- Boston Scientific Corp. (NYSE:BSX) up 3.94%
- NextEra Energy Inc. (NYSE:NEE) down 6.62%
- Amphenol Corp. (NYSE:APH) up 3.15%
- CME Group Inc. (NASDAQ:CME) up 1.32%
- Moody's Corp. (NYSE:MCO) up 2.14%
- Capital One Financial Corp. (NYSE:COF) up 2.30%
- General Dynamics Corp. (NYSE:GD) up 6.47%
- Fiserv Inc. (NASDAQ:FI) down 16.10%
- Infosys Ltd. (NYSE:INFY) up 1.66%
- Freeport-McMoRan Inc. (NYSE:FCX) down 1.84%
- Hilton Worldwide Holdings Inc. (NYSE:HLT) down 2.04%
- TE Connectivity plc (NYSE:TEL) up 10.30%
- CoStar Group Inc. (NASDAQ:CSGP) up 6.34%
- Otis Worldwide Corp. (NYSE:OTIS) down 10.32%
- Teledyne Technologies Inc. (NYSE:TDY) down 3.76%
- Lennox International Inc. (NYSE:LII) up 8.84%
- Northern Trust Corp. (NASDAQ:NTRS) down 3.53%
- Rogers Communications Inc. (NYSE:RCI) up 0.29%
- East West Bancorp Inc. (NASDAQ:EWBC) down 2.16%
- Mr. Cooper Group Inc. (NASDAQ:COOP) up 0.90%
- Hasbro Inc. (NASDAQ:HAS) down 0.73%
- Lamb Weston Holdings Inc. (NYSE:LW) up 16.08%
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