Stocks Surge as Trade Deal Buzz Sparks Wall Street Rally

Wall Street erupted in a frenzy today as investors gobbled up signs of trade policy progress and dissected a tidal wave of corporate earnings reports.

The Dow Jones Industrial Average skyrocketed 300 points, soaring nearly 0.75%, while the S&P 500 charged ahead by 0.6% and the Nasdaq Composite powered up 0.5%.

The market's adrenaline rush kicked into high gear in the afternoon when U.S. Commerce Secretary Howard Lutnick dropped a bombshell on CNBC, declaring a trade deal with a mystery country was "done" but just needed a foreign stamp of approval. Traders took the news as a beacon of hope amidst the swirling chaos of Trump's trade tactics.

But hold your horses, because despite today's wild ride, President Donald Trump's first 100 days of his new term are shaping up to be a historic dumpster fire for markets, rivaling the dark days of Richard Nixon's 1973 presidency.

The S&P 500 is hurtling towards its most epic nosedive in over five decades during the opening act of a presidential term.

Trump's Auto Tariff Curveball

Earlier in the day, Trump threw a lifeline to the beleaguered auto industry, signing an executive order to dodge the double whammy of overlapping tariffs that were squeezing automakers to the breaking point.

General Motors, riding high on better-than-expected earnings, yanked its 2025 guidance and hit the brakes on share buybacks, leaving investors hanging until the dust settles.

Meanwhile, Amazon shares staged a dramatic comeback after the e-commerce giant shot down rumors of slapping tariff-related surcharges on its site, a move the White House had branded a "hostile and political act."

Corporate earnings took center stage, with Spotify and Coca-Cola dropping their numbers before the bell, and Starbucks set to spill the beans after the close. Honeywell's stock rocketed 5% after blowing past earnings expectations, propelling the Dow to new heights.

But don't let the market's sugar rush fool you - the economic data tells a different story. Consumer confidence took a nosedive for the fifth month in a row, while job openings wallowed at a four-year low.

In the crypto world, Bitcoin (BTC) danced around the $95,000 mark all day long, keeping traders on their toes.