US Stocks Pull Back as China Trade Deal Uncertainty Persists

Recent comments from U.S. officials have impacted investor sentiment significantly. Key points include:

U.S. Treasury Secretary Scott Bessent described the trade war with China as "unsustainable," contributing to market rallies.
President Trump stated he has "no intention" of firing Fed Chair Jerome Powell, positively influencing market confidence.
Elon Musk's announcement of stepping back from DOGE duties led to a near 7% increase in Tesla shares despite a 71% net income decline.
U.S. stocks and the dollar rose; the S&P 500 was up 2%, Nasdaq Composite 3%, and Dow Jones Industrial Average increased by approximately 600 points during trading.
Bessent noted China's economic model needs rebalancing but did not confirm any tariff reductions.
Trump mentioned tariffs on Chinese imports will "come down" but remain above zero. Reports suggest potential tariffs could be reduced to 50-65% of current levels.

Confirmation of lower tariffs could further boost stock prices.