Stocks rise as Donald Trump tones down his stance on trade

A trader works on the floor of the New York Stock Exchange (Richard Drew/AP)

US stocks rose as a worldwide rally came back around to Wall Street after President Donald Trump appeared to back off his criticism of the Federal Reserve and his tough talk in his trade war.

The S&P 500 climbed 1.7% and added to its big gain from Tuesday that more than made up for a steep loss on Monday.