Markets remain buoyed by Trump’s more conciliatory tone in recent days after stocks and US bonds sold off 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 per cent and PepsiCo dropped 4.9 per cent after both companies trimmed their forecasts amid tariff uncertainty.
But artificial intelligence player ServiceNow rocketed 15.6 per cent higher after results topped estimates. Profits jumped 33 per cent to US$460 million.
