The US stock market has been in a tailspin since the start of the year, as investors have taken on too much risk, driven by concerns about global economic uncertainty.
But on Wednesday, the benchmark index edged higher, hitting its highest level since mid-2015.
The Dow Jones industrial average jumped almost 2 per cent, to 26,534.
The S&P 500 index of companies also gained, rising 0.4 per cent to 2,068.
The Nasdaq Composite also rose 0.5 per cent.
The benchmark index, which tracks the S&P 500 and measures companies on the Nasdaq, has fallen a stunning 22 per cent since January.
The recent rally was spurred by President Donald Trump’s threats to impose tariffs on Chinese goods, including cars, as well as his pledge to build a wall along the U.S.-Mexico border.
On Wednesday, Trump told a news conference in Washington that he’s going to build the wall, which was announced last week and will cost tens of billions of dollars.
It was his first direct comments on the matter since taking office.
The president’s announcement came hours after the White House released a statement on the situation.
“This is the first time that the President has commented directly on trade and immigration.
It’s also the first such comments since the election,” the statement read.
Trump has repeatedly said he will use his authority under the Constitution to impose trade sanctions on China and other nations if they don’t do better at cutting down on pollution.
He has said the wall would be built “quickly, cheap and strong.”
In an interview with ABC News on Wednesday afternoon, Commerce Secretary Wilbur Ross, a former Boeing executive, said the trade relationship with China would remain strong, though he added that “there is a lot of room for negotiation.”
He said the US has a trade deficit with China of $600 billion, but said it’s been cut in half by the administration.
“We have a lot more trade going on, a lot less trade, in fact,” Ross said.
“I think it’s a good thing for American companies and American workers that we’re getting a trade surplus.”
Ross said the U and China agreed on the value of the dollar in January, and that the dollar’s “current value is much lower” than the Chinese currency, the renminbi.
The US, China and Mexico have also been negotiating a free trade agreement.
Ross said Trump will meet with Mexican President Enrique Pena Nieto later this week.
Trump’s executive order targeting Chinese imports sparked a flurry of protests across the U, which included some of the largest demonstrations in decades.
More than 100 people were arrested, and more than 100 protesters were detained, according to the National Park Service.
In the hours after Trump’s first executive order was issued, the U S stock market hit a new record high.
The index jumped 3.4 points, to 5,532.
The New York Stock Exchange jumped 4.2 points, with the Nasco index rising 1.4%.
The Dow, which measures the S & P 500, climbed 6.7 points, or 0.6 per cent at 28,744.
The Russell 2000 index, an index of the S.&.
P 500 companies, gained 1.2 per cent on Wednesday.
The Shanghai Composite jumped 3 per cent and the Shenzhen Composite jumped 4 per cent after the Chinese stock market closed.
The Chinese currency weakened to a record low against the U$.
S. dollar on Wednesday and to a more bearish trend against the yen.
China’s benchmark currency, which fell to a seven-month low against other major currencies in December, also hit a six-month high, while the yuan slid against the dollar.