Deutsche Bank lowered its S&P 500 forecast to 6,150 from 7,000 as the firm expects President Trump's tariffs to weigh on profits.

But Wall Street has his ear. The president softened his hostile rhetoric toward China and Federal Reserve Chair Jerome Powell this week following Monday’s market sell-off and pr

The S&P 500 climbed 1.7%. The Dow Jones Industrial Average rose 419 points, or 1.1%, and the Nasdaq composite gained 2.5%.

The bounce in U.S. stocks gained momentum on Wednesday as the Trump administration turned down the heat on its trade war with China that has so rattled markets, while the president distanced himself from his own calls for the immediate termination of Federal Reserve chair Jerome Powell.

Wall Street’s momentum is slowing Thursday following its big two-day rally, as more U.S. companies say uncertainty created by President Donald Trump’s trade war is scrambling their expectations for the year.

U.S. stocks are drifting higher as better-than-expected profits for U.S. companies pile up, though CEOs say they’re unsure about whether it will last amid uncertainty around the trade war. The