These are the stocks posting the largest moves before the bell.Market Insiderread more
Mnuchin tells CNBC he's confident President Trump and China's Xi Jinping can make progress in stalled trade talks.World Economyread more
U.S. stock index futures jumped Wednesday morning after Treasury Secretary Steven Mnuchin told CNBC that the U.S. and China were close to reaching a trade deal.US Marketsread more
JP Morgan's Jamie Dimon says student lending "is a disgrace and its hurting America," he told Yahoo Finance Tuesday.Economyread more
Trump is willing to talk with Iran, but he's "also determined to enforce the U.S. and our allies' interests in the region," Mnuchin tells CNBC.Politicsread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
Mortgage application volume was 40% higher than a year ago, largely because lower rates are strengthening the refinance market.Real Estateread more
Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
Bitcoin surged as high as $12,919 in early morning trade Wednesday, to its highest level since January 2018.Technologyread more
AbbVie's deal to buy Allergan for about $63 billion is a "nice exit from a tough situation," RBC Capital Markets analyst Randall Stanicky says.Biotech and Pharmaceuticalsread more
Omada Health just raised $73 million at a valuation of around $600 million as it seeks to expand its digital health offerings.Technologyread more
A parade of strong fundamental news Tuesday helped the stock market forget the albatross of technical indicators that had been dragging things down.
Positive earnings reports and guidance coupled with another round of good economic news propelled the S&P 500 toward its best gain since April, helping ease what had been a rough two-week period.
The events reminded investors that for whatever other maladies are around — rising interest rates, a stronger dollar and geopolitical tensions among them — they're all happening against a healthy background of surging corporate profits and a healthy base of economic strength.
"You step back and say, 'What does the environment look like and how do we judge that things have calmed down?' All that's important," said Art Hogan, chief investment strategist at B. Riley FBR. "We can have a reaction function that is intuitive to the news we get."
For weary market participants, the news helped assuage some very particular fears.
UnitedHealth beat earnings expectations and raised guidance. Ditto for Johnson & Johnson, which beat on the top and bottom lines, sending shares higher for the two Dow components and calming some worries that corporate executives broadly might be shifting guidance lower in the face of a global tariff battle, higher borrowing costs and rising currency pressures.
At the same time, industrial production numbers in the U.S. topped estimates and job openings hit a new record. Fund managers responding to a Bank of America Merrill Lynch survey indicated hopes for U.S. growth as compared to the rest of the world are at an 11-year high.
All of that happened while Italy's government bond yields dropped sharply amid an apparent budget deal, the U.S. dollar briefly hit a three-week low before bouncing back, and U.S. Treasury yields, the source of much of the market's recent consternation, rose with the stock market, increasing amid signs of economic strength rather than inflation fears.
"The market was pricing in an economic slowdown. I don't think that's happening," Hogan said. "The key to market success will be how we react to [earnings] guidance. That reaction function's going to be tricky."
Indeed, the path ahead does not appear smooth.
Wall Street is watching corporate guidance closely, with early indications that concerns would center around how much tariffs would impact business and what the implications of currency fluctuations will be.
Despite Tuesday's rally, the mood remains cautious.
"What's really happening is a continued separation of the haves and the have nots," said Mitchell Goldberg, president of ClientFirst Strategy. "You're going to see companies that show decent numbers go higher. They're going to continue to attract investors. The have-not companies not living up to expectations, that can't show organic growth, they're going to continue to lag."
Tuesday's early action helped exemplify the market divide: While breadth at the New York Stock Exchange was strongly positive, with advancers beating decliners about 5 to 1, companies setting new lows beat those setting new highs by 10 to 1.
So while Wall Street could take comfort in a big day, there remains work to be done before the all-clear comes in the market. Hogan said how well technical indicators like how the reacts around its 200-day moving average will be a test for how strong fundamentals are.
"In the near term, I would rather face the onslaught of earnings and subdued guidance sitting at support than sitting at resistance," he said. Hogan described the current situation as "very precarious."