U.S. stocks jump higher as global stocks rally amid Trump tariffs

Wall Street surges as Trump reports upbeat call with South Korea, Japan seeks quick negotiations, and stocks climb.

Wall Street stocks surged higher early Tuesday (April 8, 2025) as global markets rallied following deep losses in hopes of trade agreements that would remove U.S. President Trump's heavy tariffs.

All three major U.S. indices were up more than three percent in early trading as Mr. Trump described an upbeat call with the head of South Korea while U.S. Treasury Secretary Scott Bessent said Japan had sought quick negotiations.

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About 15 minutes into trading, the Dow Jones Industrial Average was up 3.1% at 39,126.05.

The broad-based S&P 500 climbed 3.2% to 5,221.73, while the tech-rich Nasdaq Composite Index jumped 3.4% to 16,134.89.

Mr. Trump reported a "great call" with the South Korean leader on his Truth Social platform, adding that "we are likewise dealing with many other countries, all of whom want to make a deal with the United States."

Mr. Bessent told CNBC that Japan was at the forefront of talks so far, while asserting that China had made a "big mistake" in announcing retaliatory levies on US goods.