U.S. stocks closed higher for two consecutive days, with the three major indexes rising by more than 1% to 2.5%. Investors are looking forward to an easing of Sino-US trade tensions, and US President Trump has said he has no intention of dismissing Federal Reserve Chairman Powell, easing market concerns about the Fed's loss of independence.

In addition, foreign media earlier quoted White House officials as saying that they were considering lowering tariffs on Chinese imports to 50% to 65%. The market once rose sharply, but the US side later said the report was pure speculation.

The Dow Jones Industrial Average rose nearly 1,190 points in early trading, breaking through the 40,000 mark to a high of 40,376, a gain of 3%. It closed at 39,606, up 419 points, or about 1.1%.

The S&P 500 index rose 3.4% at one point, but the gain narrowed to 1.7% at the close of 5,375 points, up 88 points for the day.

The Nasdaq index rose by about 4.5% at one point, breaking through the 17,000 point mark but failed to stabilize. It closed at 16,708 points, up 407 points, or 2.5%.

Tesla (TSLA) rose more than 5%. The group's performance last quarter was lower than expected. CEO Musk said that starting next month, the time spent on the U.S. government efficiency department will be significantly reduced.

Boeing (BA) rose more than 6% as its losses last quarter narrowed by more than 91% year-on-year, better than expected.