US Stock Market Highlights: Dow closes 400 points higher, but ends session well off the highs of the day

US Stock Market Highlights: Stocks rallied on Wednesday (April 24) amid renewed optimism over easing US-China trade tensions and reassurance from President Donald Trump that he has no plans to remove Federal Reserve Chairman Jerome Powell. The Dow Jones Industrial Average ended the session up 419 points, or 1.07%, while the S&P 500 rose 1.67%. The Nasdaq Composite outperformed, jumping 2.5%. However, gains are moderated by the close. Earlier in the day, the Dow had surged as much as 1,100 points at its peak before pulling back. Treasury Secretary Scott Bessent also said Wednesday that both countries have the chance to make “a big deal” on trade. “If they want to rebalance, let’s do it together,” Bessent said.