The US stock market bounced back from its worst day since October on Wednesday after President Trump said he reached the framework for a deal about Greenland and won't impose tariffs he had threatened on several European countries.
- The S&P 500 rose 78.76 points, or 1.2%, to 6,875.62.
- The Dow Jones Industrial Average climbed 588.64 points, or 1.2%, to 49,077.23.
- The Nasdaq composite rose 270.50 points, or 1.2% to 23,224.82.
Trump said the Arctic deal "if consummated, will be a great one for the United States of America" and its allies in the North Atlantic region. The announcement triggered an immediate move higher in the stock market, which found solace earlier in the day after Trump ratcheted down his rhetoric and told business and government leaders in Europe that he would not use force to take "the piece of ice," the
AP reports.
The de-escalation in tensions, which had ramped up earlier with talk of tariffs crossing the Atlantic, helped the S&P 500 recover much of its 2.1% drop from the day before and pull closer to its all-time high set earlier this month. Trump himself acknowledged how the US stock market sold off on Tuesday because of his desire for Greenland, but he called it "peanuts compared to what it's gone up" in the first year of his second term and said it would go up further in the future. Trump has a history of making big threats that send financial markets sliding, only to pull back later and reach deals that are seen as less bad for the economy or for inflation than his initial suggestion, the AP notes.
Helping to lead the US stock market Wednesday was Halliburton. The oil field services company rose 4.1% after reporting a stronger profit for the latest quarter than analysts expected. United Airlines climbed 2.2% after likewise reporting a better profit for the final three months of 2025 than analysts expected. CEO Scott Kirby said that the airline's strong momentum in revenue is continuing into 2026. They helped offset a 2.2% drop for Netflix. The streamer sank even though it reported a stronger profit than expected. Investors focused instead on its slowing subscriber growth and and its lower-than-expected forecast for profit in the current quarter.
Kraft Heinz sank 5.7% after Berkshire Hathaway warned investors that it may be interested in selling its 325 million shares in the food giant that former CEO Warren Buffett helped create in 2015. Berkshire took a $3.76 billion write-down on its Kraft-Heinz stake last summer. Buffett said last fall that he was disappointed in Kraft Heinz's plan to split the company in two, and Berkshire's two representatives resigned from the Kraft board last spring.
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