"While it is too soon to assume that this is a turning point, it does suggest that a recession is unlikely in the near term," JPMorgan said.

The S&P 500 was 0.1% higher in morning trading and drifting close to its all-time high set last week. The Dow Jones Industrial Average was up 155 points, or 0.4%, as of 10 a.m. Eastern time, and the Nasdaq composite was 0.2% lower.

U.S. stocks are holding relatively steady Wednesday following the latest scary swerves for markets in China. The S&P 500 was 0.1% lower in early trading but still drifting close to its all-time high set last week.

A stock market rally in China has fizzled out as a highly-anticipated announcement on plans to boost the country's ailing economy disappointed investors. Shares had jumped by over 10% as trading restarted after the Golden Week holiday but fell back after a news conference by the country's economic planners.

On Tuesday, hashtags about China's stock market — including the apt #A-shares rollercoaster — rushed to the top of Weibo's trending list. A-shares are stocks of Chinese compan

Shares have soared in Shanghai but gave up a chunk of their initial gains as officials in Beijing outlined details of the government's stimulus plans

Trump Media's wild swings are a reminder of how risky an investment DJT stock can be. Shares have lost more than 60% of their value since March.

The Truth Social owner's stock rally accelerated after Elon Musk joined former President Trump at a campaign event in Butler, Pennsylvania.