LIVE MARKETS-Wall Street surges: a technical bounce, maybe?

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WALL STREET SURGES: A TECHNICAL BOUNCE, MAYBE?

Shares on Wall Street are surging on Tuesday after meltdowns late last week and part of Monday, as investors pinned their hopes on more tariff deals to tone down some of the aggressive rhetoric from the Trump administration.

Markets, however, remain in high-anxiety mode after China said on Tuesday it will never accept the "blackmail nature" of the U.S. to Trump's threat to ratchet up tariffs on imports from China to more than 100%. China was responding to China's decision to impose retaliatory tariffs to match 'reciprocal' U.S. duties.

U.S. Treasury Secretary Scott Bessent said in a CNBC interview on Tuesday that tariff negotiations are the result of calls from other countries, not sliding financial markets, and China's escalation is a big mistake.

Market participants overall say Tuesday's rally is likely a dead cat bounce.

"There are grounds to believe that the lows are in right now, but those odds are rather slim — just enough to dip two toes into the market but not two feet," writes Dave Rosenberg, founder and president of Rosenberg Research.

"Retests or breaks of the lows in periods like this are rather common; we must make the distinction between short squeezes and true fundamental lows that typically have a real catalyst behind them."

Here is an early market snapshot:

(Gertrude Chavez-Dreyfuss)

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