Wall Street bounces back

U.S. stocks bounced back from steep early losses to end mixed, continuing their wild swings amid uncertainty about what President Donald Trump’s trade war will do to the economy.

The S&P 500 rose 0.1% Wednesday, extending its winning streak to a seventh day. The Dow Jones Industrial Average rose 0.3%, and the Nasdaq composite slipped 0.1%. Indexes started the day lower after a report suggested the U.S. economy may have shrunk at the start of the year, before most of Trump’s announced tariffs could take effect.

The S&P 500 had beenb down as much as 2.3%. Treasury yields fell.

Ford CEO welcomes relief on tariffs but says more work is needed

Ford Motor Company’s top executive on Wednesday welcomed revisions to auto import rules but said more work is needed to craft trade policies that spur growth in the U.S. auto industry.

Ford CEO Jim Farley touted his company’s domestic production, saying it outpaces competitors, as he attended the rollout of the company’s 2025 Expedition SUV at its massive truck plant in Kentucky.

Farley focused on trade policies during his remarks to plant workers, a day after President Donald Trump signed executive orders to relax some of his 25% tariffs on automobiles and auto parts.

“The changes this week on tariff plans will help ease the impact of tariffs for automakers, suppliers and consumers,” Farley said. “But this is what we really care about. We need to continue to work closely with the administration on a comprehensive set of policies to support our shared vision of that healthy and growing auto industry. And we are not there yet.”

— Associated Press