<ul><li>Wall Street's major indexes surged to one-week highs driven by optimism for a thaw in the U.S.-China trade war and President Trump's softened stance on Federal Reserve Chair Jerome Powell.</li><li>Hopes of talks between Washington and Beijing, amid the tariff conflict, boosted market sentiment following a report suggesting U.S. tariffs on China could drop to around 50%-60%.</li><li>Stocks extended gains after Trump's statement that he had 'no intention' of firing Powell, reversing his comments that had drawn heavy criticism.</li><li>Megacap tech stocks rose broadly, with Nvidia gaining 5.1% and Apple and Meta Platforms rising 3.6% and 6.7% respectively.</li></ul>

Tariff optimism spurs rally on Wall Street

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