The stock market opened higher Tuesday, rebounding after several days of steep losses sparked by President Donald Trump’s tariff announcement last week.
As of 10 a.m., the S&P 500 was up 3.2% and the Dow Jones Industrial Average rose about 3%, partly because President Donald Trump began tariff negotiations with countries including Japan and South Korea.
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Tuesday marked the first time stocks opened in the green since President Donald Trump announced tariffs on April 2. Despite the morning rally, the S&P 500 remained down about 7% since the announcement.
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Some of the optimism is also originating from Treasury Secretary Scott Bessent’s comments indicating the tariffs could be reduced.
“I think we can end up with some good deals,” Bessent said. “And I actually think, as I said that over the weekend, President Trump has maximum negotiating leverage right here, right now, and I think it would be a mistake for anyone to think otherwise.”