Stocks rebound as Wells Fargo shares hit new high following Federal Reserve decision

cnbc.com February 4, 2025, 10:00 PM UTC

Stocks rose on Tuesday, recovering from a previous sell-off driven by tariffs. The S&P 500 gained, with energy, communication services, and technology sectors performing well. A trade deal delaying tariffs with Mexico and Canada eased market concerns. Wells Fargo shares reached a new high after the Federal Reserve ended two consent orders from 2011. This marks a total of nine orders closed since 2019, reflecting progress in the bank's risk management and reputation under CEO Charlie Scharf. Earnings reports are expected from major companies like Alphabet, AMD, and Chipotle after the market closes. Disney and others will report before the market opens on Wednesday, indicating a busy earnings season ahead.


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