Wall Street stocks rallied for a third straight session on Thursday, shrugging off mixed earnings and signs that US trade deals with China and the European Union aren't imminent.
China poured water on the likelihood of a speedy deal with Washington, with a commerce ministry spokesman telling reporters the two sides were not even negotiating yet.
Meanwhile, France's economy minister Eric Lombard said a trade deal between the United States and the European Union is also some way off.
But stocks looked past these developments – or lack thereof – and the Dow Jones finished up 1.2 percent at 40,093.
The S&P 500 gained 2.0 percent to 5,484, while the Nasdaq jumped 2.7 percent to 18,907.
Thursday's gains are part of a "relief rally" that is persisting, said Adam Sarhan of 50 Park Investments.
Markets remain buoyed by Trump's more conciliatory tone in recent days after stocks and US bonds sold off on Monday following the Republican's sharp criticism of Federal Reserve Chair Jerome Powell.
On Tuesday, Trump said he had no intention to fire Powell. He has also tempered his rhetoric on China.
"The last few times the market has gone down a lot, Trump has changed his stance, and he's done so quickly," said Sarhan. "When the markets move, Trump listens."
Among companies reporting results, Procter & Gamble fell 3.9 percent and PepsiCo dropped 4.9 percent after both companies trimmed their forecasts amid tariff uncertainty.
But artificial intelligence player ServiceNow rocketed 15.6 percent higher after results topped estimates. Profits jumped 33 percent to US$460 million. (AFP)
US stocks rise for 3rd straight day
2025-04-25 HKT 05:27
