Relief in US Markets: Trump's Decision Spurs Big Gains

US markets eagerly responded with gains after President Trump assured he wouldn't fire Federal Reserve Chair Jerome Powell. This relief came amidst ongoing trade tensions with China. Tesla saw a notable rebound, and big tech stocks, like Nvidia and Apple, also surged. Global markets mirrored this positive sentiment.

In a significant move for financial markets, US stocks opened with robust gains on Wednesday after President Donald Trump quelled fears by announcing he would not remove Jerome Powell, the Federal Reserve Chair. Trump has previously criticized Powell for not cutting interest rates soon enough.

Dow Jones futures saw a 1.9% uptick, S&P 500 futures gained 2.6%, and Nasdaq futures climbed an impressive 3%. Market observers see these movements as a reflection of investors' relief and renewed optimism amidst Trump's ongoing trade disputes with China.

Among the stocks rejoicing this boost is Tesla, whose leader Elon Musk declared a shift in priorities, focusing more on the company and less on political matters. Tech giants Nvidia, Apple, and Meta also gained ground, despite hefty EU fines, contributing to a globally positive trend in European and Asian markets.

(With inputs from agencies.)