Europe markets rally 2% on hopes of cooling U.S.-China tensions; mining, tech stocks up over 4%

Business
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April 23, 2025
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11 minutes read

1 Hour Ago

U.S. stocks rally Wednesday morning

U.S stocks rallied to kick off Wednesday’s trading session.

The Dow Jones Industrial Average added 750 points, or 2%. The S&P 500 popped 2.6%, and the Nasdaq Composite gained 3.2%.

— Lisa Kailai Han

3 Hours Ago

Copper futures trade at highest level since April 3, boosted by hopes of easing U.S.-China trade tensions

A shipment of copper is seen in the port of Valparaiso city, about 121 km (75 miles) northwest of Santiago, Chile.

Rodrigo Garrido | Reuters

Copper’s May-dated futures hit a high of 4.932, its highest level since April 3, when the metal traded as high as 5.0.

Copper was boosted by hopes of trade tensions between the U.S. and China easing, as both nations have indicated their openness to negotiations.

The Global X Copper Miners (COPX) ETF was up 1.9% in Wednesday’s premarket trading hours, and is pacing for a 4.5% weekly gain.

Stock Chart IconStock chart icon

COPX YTD chart

— Gina Francolla, Lisa Kailai Han

2 Hours Ago

Europe has the potential for a ‘very, very competitive’ capital market, EU commissioner says

Spot gold

— Amala Balakrishner

16 Hours Ago

Trump says he doesn’t plan to get rid of Fed Chair Jerome Powell

President Donald Trump delivers remarks during the swearing-in ceremony for Securities and Exchange Commission Chairman Paul Atkins in the Oval Office at the White House on April 22, 2025 in Washington, DC.

Chip Somodevilla | Getty Images News | Getty Images

President Donald Trump said that he has “no intention” of firing Federal Reserve Chair Jerome Powell.

When asked whether he had intentions of removing the central bank leader, Trump said, “None whatsoever.” The president spoke at the Oval Office late Tuesday.

Stock futures opened sharply higher after Trump’s comments, with Dow futures surging 500 points.

Powell’s term as Fed chair will end in May 2026.

—Kevin Breuninger, Darla Mercado

11 Hours Ago

European markets: Here are the opening calls

European markets are expected to open higher on Wednesday as global market sentiment rebounds following a bout of volatility.

The U.K.’s FTSE 100 index is expected to open 86 points higher at 8,418, Germany’s DAX up 457 points at 21,739, France’s CAC 84 points higher at 7,402 and Italy’s FTSE MIB 446 points higher at 35,906, according to data from IG.

Earnings are set to come from NatWest and Heathrow on Wednesday. Data releases will include the latest purchasing managers’ index data on activity in the euro zone’s services and manufacturing sectors.

— Holly Ellyatt