Wall Street Rebounds Amid Mixed Earnings and Trade Optimism

Wall Street's main indexes rebounded on Tuesday following a steep selloff, driven by positive corporate earnings and optimism about U.S.-China trade negotiations. Despite a mixed earnings season and concerns over U.S. economic growth, major indices posted gains, highlighting ongoing market volatility.

Wall Street's indices saw a significant recovery on Tuesday, bouncing back from a steep decline driven by President Donald Trump's criticism of Federal Reserve Chair Jerome Powell. Investor sentiment was buoyed by optimism over trade negotiations and mixed corporate earnings, leading to notable gains in key indices.

Industrial conglomerate 3M saw its shares soar by 6.9% following a positive first-quarter profit, while Northrop Grumman and RTX faced declines due to disappointing earnings and tariff-related profit warnings. The fragility in market sentiment persisted amid concerns over central bank autonomy.

Despite overall gains, the economic outlook remained uncertain, with the IMF cutting U.S. growth projections and Citigroup warning of a potential recession. Key insights from Federal Reserve speakers are eagerly awaited to shed light on future monetary policy amidst ongoing tensions with the White House.

(With inputs from agencies.)