News that U.S.-China trade negotiations are advancing led to a rebound on the New York Stock Exchange.
On the 22nd (Eastern Standard Time), the Dow Jones Industrial Average closed at 39,186.98, up 1,016.57 points (2.66%) from the previous session on the New York Stock Exchange. The Standard and Poor's (S&P) 500 index rose 129.56 points (2.51%) to 5,287.76, while the technology-driven Nasdaq Composite Index finished up 429.52 points (2.71%) at 16,300.42.
Expectations that the U.S.-China negotiations are making progress had a positive impact on the market. Caroline Levitt, White House Spokesperson, noted during a briefing that efforts to derive a new trade agreement between the U.S. and China are "going very well."
Scott Bethancourt, U.S. Secretary of the Treasury, also said during an investor event that the stalemate with China due to tariffs is unsustainable and that the situation is expected to de-escalate.
Technology corporations also rebounded uniformly. Tesla rose 4.6% ahead of its earnings announcement after the market closed, while Nvidia (2.0%), Apple (3.4%), and Meta Platforms (3.2%) also showed strength.
On this day, the International Monetary Fund (IMF) presented a global economic growth rate of 2.8%, lowered by 0.5 percentage points compared to earlier estimates, considering the ongoing global trade war, which had a limited impact on the market.