U.S. stocks rebounded as President Donald Trump moved to reassure markets that he will clinch a trade deal with China. The US Dollar rose and Treasuries fell. The S&P 500 rose for the second time in three sessions after Trump said he is talking with China. The benchmark is still down around 4% since the president escalated the trade war on May 5, and Tuesday’s rally faded into the close. Battered tech shares led the advance as Apple Inc. and Nvidia Corp. bounced back from their biggest one-day declines since January. Heavyweight exporters Caterpillar Inc. and Boeing Co. also reversed a portion of Monday’s losses. The US Dollar advanced for a second day against major peers, including havens such as the Japanese Yen and the Swiss Franc. The offshore yuan — a key risk indicator due to concern China will use it to retaliate against U.S. tariffs — stabilized after a six-day decline. Ten-year Treasury yields edged higher to 2.41%. Commodities targeted by Chinese tariffs — including soybean and cotton futures — also rebounded. West Texas crude rose above $61 a barrel.
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