India, April 23 -- Stocks have moved sharply higher during trading on Wednesday, extending the rally seen in the previous session. The major averages have all shown substantial moves to the upside, with the tech-heavy Nasdaq leading the charge.
Currently, the major averages are off their highs of the session but still firmly positive. The Nasdaq is up 641.77 points or 3.9 percent at 16,942.19, the S&P 500 is up 155.85 points or 3.0 percent at 5,443.61 and the Dow is up 906.82 points or 2.3 percent at 40,093.80.
The extended rally on Wall Street comes after President Donald Trump appeared to soften his stance on Federal Reserve Chair Jerome Powell.
"I have no intention of firing him," Trump told reporters on Tuesday but reiterated he woul...