Major United States indices advanced on Tuesday (Wednesday AEDT), buoyed by a strong performance from Palantir, as Wall Street sought stability amid fresh tariff developments.
The Dow Jones Industrial Average gained 134 points, or 0.3% to close at 44,556, the S&P 500 added 43.3 points or 0.7% to 6,037.9, and the Nasdaq climbed 262.1 points or 1.4% to 19,654.
Palantir surged 24% to fresh record highs after the company posted fourth-quarter earnings that exceeded analyst expectations.
Other major tech stocks followed suit, with Nvidia rising 0.7% during the session.
On the trade front, China introduced tariffs of up to 15% on U.S. coal and liquefied natural gas, along with a 10% increase in duties on crude oil, farm equipment, and select automobiles, effective from 10 February.
This move follows the U.S. decision to halt the imposition of further tariffs on Canada and Mexico. Canadian Prime Minister Justin Trudeau confirmed on social media platform X that President Donald Trump agreed to delay tariffs on Canada for 30 days.
Similarly, Mexican President Claudia Sheinbaum announced on Monday that duties on Mexican imports to the U.S. would also be suspended for one month.
On the data front, U.S. JOLTs job openings saw their steepest decline in 14 months in December, dropping by 556,000 to 7.6 million, below expectations of 8 million.
The news follows a turbulent trading session on Monday when stocks initially faced sharp losses before recovering.
Despite the rebound, all three major indices closed lower, with the Dow slipping 0.3%, the S&P 500 dropping 0.8%, and the Nasdaq falling 1.2%.
On the bond markets, 10-year and 2-year rates fell 0.9% and 0.8% to 4.513% and 4.216%, respectively.
