U.S. Stocks Rise Despite Trade Deal Uncertainty, Tech Leads 2.5% Nasdaq Gain

On Wednesday, the U.S. stock market opened higher, driven by expectations of easing trade tensions. The upward momentum was initially strong, with the S&P 500, Dow, and Nasdaq all showing significant gains. However, the U.S. Treasury Secretary's statement that a comprehensive trade agreement between the two largest economies may take two to three years and that Trump would not unilaterally reduce tariffs suppressed the upward momentum, erasing more than half of the gains. At the close, the S&P 500 rose by 1.67%, the Dow by 1.07%, and the Nasdaq by 2.5%. Tech stocks led the gains, with Tesla and Intel rising by over 5%.

The crypto market's upward trend slowed down, with Bitcoin reaching a high of $94,696 before a slight pullback. At the time of writing, it was trading at $93,576, with a daily gain of 0.64%. Its market cap reached $1.86 trillion, once again ranking as the eighth largest asset globally. The Bitcoin spot ETF saw net inflows for the fourth consecutive trading day. Most other major tokens rose, with Ethereum striving to hold above $1,800. TRUMP coin surged over 40% following news that the top 25 holders could have dinner with Trump.

In the forex and commodities market, the easing of tariffs stimulated a 0.96% surge in the US dollar index. OPEC+ may further increase production, causing a nearly 2% drop in oil prices. International gold prices plummeted, with spot gold in New York falling by 2.69% at the close.

Tariff policy updates continue to disrupt global financial markets, with any slight progress causing significant volatility. Market movements have deviated from fundamental logic, and policy uncertainty has disrupted traditional signals. Despite the two-day rally in U.S. stocks, market sentiment has not truly improved. Investors remain cautious, and the market's reaction to policy changes underscores the sensitivity of investors to policy changes and the potential impact on market stability.