Stocks continue to rise due to trade deal hopes and Fed confidence

From Nasdaq: 2025-04-23 16:25:00

Stocks continued to rise on Wednesday, with the Dow, Nasdaq, and S&P 500 all making gains. The Cboe Volatility Index (VIX) closed below 30. Positive market sentiment was driven by hopes of a trade deal between China and the U.S., and confidence in the Federal Reserve’s independence.

The European Union fined Apple €500 million and Meta Platforms €200 million for breaching the Digital Markets Act. The Fed’s Beige Book revealed businesses passing tariff costs onto consumers. Intel’s stock rose on reports of a 20% workforce reduction. Tesla’s earnings report and a data center stock’s beat-and-raise also made headlines.

Oil prices dropped due to reports of OPEC+ potentially increasing oil output in May. June-dated WTI crude fell 3% to $61.76 per barrel. Gold prices fell as investor sentiment improved over central bank independence and China-U.S. trade tensions. June-dated gold settled at $3,294.10 an ounce, a 3.7% drop.



Read more at Nasdaq: Stocks Extend Bounce as Tariff, Fed Fears Settle