U.S. stocks advanced, and Treasuries retreated as President Donald Trump said he’s considering re-joining the Trans-Pacific Partnership trade deal he pulled out of shortly after taking office.
Trump also said that a decision on any military retaliation in Syria will come “fairly soon,” one day after he tweeted a warning to “get ready” for a missile attack.
In addition, Trump defused some of the trade war chatter with China, saying that the two countries may not end up levying new tariffs on each other following conciliatory remarks on Tuesday by Chinese President Xi Jinping.
Banks and finance firms were among the biggest gainers after asset management giant BlackRock Inc. reported first-quarter earnings that topped analysts’ estimates.
European stocks gained for the third time this week as investors’ concerns over a conflict in the Middle East cooled and the euro’s drop supported exporters.
Equities advanced 0.7% after U.S. President Donald Trump hinted that military action in Syria may not be imminent and Russian leaders reined in their war rhetoric.
In Asia overnight, Japanese stocks rose, notching a third weekly advance, the longest winning streak this year, after U.S. President Donald Trump dialed back the tone of his rhetoric on trade and Syria. Chinese equities fell 0.7%.