The New York stock market closed higher for three consecutive days. This is interpreted as a result of President Donald Trump's repeated remarks that negotiations with China are ongoing, fostering expectations among investors that the trade conflict will ease.
On the 24th (Eastern Time), the Dow Jones Industrial Average closed up 486.83 points (1.23%) at 40,093.40. The Standard & Poor's (S&P) 500 index rose 108.91 points (2.03%) to 5,484.77, while the technology-heavy Nasdaq Composite index increased by 457.99 points (2.74%) to 17,166.04.
President Trump’s remarks about ongoing negotiations with China regarding the trade conflict provided reassurance to the market. When asked, "Who are you negotiating trade with in China?" Trump responded, "We had a meeting this morning." He made similar statements the previous day about negotiations with China.
The Federal Reserve’s indication of possible interest rate cuts due to concerns about rising prices from tariffs also had a positive impact. Federal Reserve Bank of Cleveland President Loretta Mester noted in an interview with CNBC, "If there is clear and compelling data, we could move in June (cut interest rates)."
On this day, large technology stocks led the index’s rise. Microsoft (3.45%), Nvidia (3.62%), Amazon (3.29%), Meta (2.48%), and Tesla (3.50%) all showed increases in the range of 2-3%.