U.S. markets extended a rally after dovish comments from a top Chinese official indicated that it would not retaliate, at least for now, on the latest increase in tariffs from the U.S.
Stocks were trading sharply higher by midday, helped by new comments from President Trump, who told Fox News Radio that talks had been scheduled Thursday "at a different level." He did not say what that means.
Earlier, Gao Feng, the spokesman for Ministry of Commerce Secretary, said in Beijing: “China has ample means for retaliation, but thinks the question that should be discussed now is about removing the new tariffs to prevent escalation of the trade war."
"The most important thing is to create the necessary conditions for continuing negotiations," Feng added, according to a translation by Bloomberg.
Those comments sent the Dow soaring 300 points at the open, which it was able to maintain into early afternoon, extending the volatility that has become the hallmark of what is typically among the quietest trading months of the year.
If the Dow were to close higher by 828 points between Thursday and Friday, it would end up higher for the month of August. The S&P would need to rise 92.5 points over the next two days to close up on the month.
Feng, the Chinese official, did not comment on President Trump's claim that the Chinese trade delegation called their American counterparts last weekend to express hopes of reaching a deal on tariffs. That statement came after a whipsaw few days in which China announced new tariffs on $75 billion U.S. goods. Trump retaliated by saying he would hike the tariff rates on Chinese exports, which sent stocks plunging.
As of Thursday afternoon, the Dow was trading back above where it was a week ago, before the latest tit-for-tat.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.
President Donald Trump says a deal struck by Netflix last week to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.
Disney's changes to a program for disabled visitors are facing challenges in federal court and through a shareholder proposal. The Disability Access Service program, which allows disabled visitors to skip long lines, was overhauled last year. Disney now mostly limits the program to those with developmental disabilities like autism who have difficulty waiting in lines. The changes have sparked criticism from some disability advocates. A shareholder proposal submitted by disability advocates calls for an independent review of Disney's disability policies. Disney plans to block this proposal, claiming it's misleading. It's the latest struggle by Disney to accommodate disabled visitors while stopping past abuses by some theme park guests.
With a merger this big, creators, studios, and theaters all face uncertain futures. Here’s what experts are worried about and what good could come from it.
With disengagement rising and hybrid work shifting, 'Everybody Matters' author Bob Chapman explains why treating people well could define the future of work.
We sat down with Ali Furman, U.S. Consumer Markets Industry Leader at consulting firm PwC to ask what trends she garnered from the initial data this year.
Seth Schachner breaks down Zootopia 2’s record-smashing debut, holiday box office trends, early 2026 Oscar contenders, and what’s next for Netflix and WBD.
