Stocks volatile after two straight days of gains as China states it is not negotiating with U.S.

In the realm of U.S. financial markets, stocks demonstrated high volatility after experiencing gains over the past two sessions. The Dow Jones Industrial Average surged by 486.83 points (1.23%) and continued to reflect investor sentiment regarding trade tensions with China, which reiterated its position on tariffs. A lack of ongoing discussions over trade from the Chinese Commerce Ministry, specifically remarks from spokesman He Yadong, may have contributed to market uncertainty. Yadong described U.S. claims of progress in negotiations as 'groundless' and reiterated that any resolution would require the U.S. to lift what he termed 'unilateral tariff measures.' Despite these developments, the stock market overall remained buoyed by President Trump's softer tones regarding potential tariff reductions and his assurance that Federal Reserve Chair Jerome Powell would not be dismissed. The S&P 500 and the Nasdaq Composite followed suit, climbing by 2.03% and 2.74%, respectively. Additional fiscal data was also noteworthy, with U.S. durable goods orders surging by 9.2% in March, a positive indicator for economic resilience. However, amidst these gains, industry players like Southwest Airlines withdrew financial forecasts due to uncertainties stemming from the ongoing trade disputes, echoing concerns regarding potential decreases in consumer spending. Conversely, companies like Hasbro reported that they did not feel significant immediate impacts from the tariff environment, even noting revenue guidance remained intact. Meanwhile, market analysts spotlighted the overall upward trend in the S&P 500, closing close to erasing its recent 10% drop, indicating a recovery phase despite geopolitical tensions. The return of Boeing aircraft from China, linked to tariff implications, represented another point of gravity in the trade dialogue as Trump labelled the situation a small representation of broader issues between the two nations. The broader economic situation remains in a flux of uncertainty, as discussions around trade deals become central to market performance. Observers are calling attention to how these negotiations—or lack thereof—could further influence investor confidence moving forward. The political climate surrounding these economic discussions adds an additional layer of complexity to the evolving landscape of global trade relations and market stability.