Wall Street Surges Amid Tariff Delays and Consumer Confidence Boost
Wall Street experienced a significant surge due to U.S. President Donald Trump's tariff delay announcement and a boost in consumer confidence. Major stock indexes rose, with tech stocks leading. Despite concerns over a fall in new orders for core capital goods, investor optimism remained strong.
Wall Street saw significant gains on Tuesday as investor sentiment was lifted by President Donald Trump's decision to postpone a 50% tariff threat against the European Union and an unexpected rise in consumer confidence. This led to a broad rally in all three major U.S. stock indexes.
The tech-heavy Nasdaq led the way, supported by the so-called 'magnificent seven' group of momentum stocks, while the S&P 500 edged closer to its record highs. Investors seem to adapt to Trump's fluctuating tariff strategies, seeing them as bold poker moves rather than economic policy disasters.
On the economic side, optimism was tempered by a decline in new orders for core capital goods. Nevertheless, Federal Reserve officials appear unconcerned by immediate inflation or unemployment threats, with interest rates expected to remain stable for now.
(With inputs from agencies.)
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