LIVE MARKETS-US stocks end green on trade optimism, Fed offers no surprises

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U.S. STOCKS END GREEN ON TRADE OPTIMISM, FED OFFERS NO SURPRISES

U.S. stocks ended higher on Wednesday after a choppy trading day on greater optimism that the United States will reach deals with trading partners and after the Federal Reserve kept interest rates unchanged, as was widely expected.

Stocks jumped in late trading after Bloomberg News reported that U.S. President Donald Trump's administration plans to rescind Biden-era AI chip curbs, which set restrictions on the export of advanced AI chips.

The market was earlier boosted on news that U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will meet China's economic tsar He Lifeng in Switzerland this weekend for talks that could be the first step toward resolving a trade war disrupting the global economy.

But the market was red for much of the day, and fell after the Fed’s rate decision. Fed Chair Jerome Powell said rate cuts will depend on what the economy does.

Traders are now pricing in only a 23% chance of a rate cut at the Fed’s June meeting, down from around 28% earlier on Wednesday, according to the CME Group's FedWatch Tool.

The Dow Jones Industrial Average .DJI was the best performing major index, ending up 0.7%, while the S&P 500 .SPX and Nasdaq Composite .IXIC gained 0.4% and 0.3%, respectively.

Here is Wednesday's closing market snapshot:

(Karen Brettell)

WEDNESDAY'S EARLIER LIVE MARKETS POSTS:

FED HOLDS STEADY, CITES RISKS; STOCKS WEAKEN CLICK HERE

HAVE MARKETS BEEN TOO QUICK TO PRICE OUT A JUNE RATE CUT? CLICK HERE

RETAIL INVESTORS BET ON BROADER MARKET REBOUND AMID APRIL VOLATILITY CLICK HERE

MORTGAGE RATES EDGE COOLER, LOAN DEMAND LEAPS CLICK HERE

U.S. STOCKS RISE ON HOPES CHINA TRADE TENSIONS CALM - CLICK HERE

BENCHMARK TREASURY YIELD CRUISING ABOVE THE CLOUD CLICK HERE

CLIMBING THE WALL OF WORRY CLICK HERE

AUSTRIA, GREECE AND NORWAY LOOK PROMISING IF SMID DOWNTURN REVERSES - UBS CLICK HERE

WHEN DOES BIG OIL M&A TEND TO HAPPEN? CLICK HERE

STOXX SUBDUED ON MIXED EARNINGS CLICK HERE

EUROPE BEFORE THE BELL: FUTURES MIXED AS TRADE TALKS, CENBANKS IN FOCUS CLICK HERE

US, CHINA MOVE TOWARDS TRADE TALKS, BUT A DEAL SEEMS DISTANT CLICK HERE