Wall Street rebounds as Trump backs away from spending bill veto

By James Langford

Published March 23, 2018 6:11pm ET

Wall Street rebounds as Trump backs away from spending bill veto — Major U.S. indexes rallied Friday after President Trump backed away from his Twitter threat to block a $1.3 trillion spending bill. Doing so would have risked the third government shutdown under his administration. | Mark Lennihan/Associated Press

The blue-chip Dow Jones Industrial Average rebounded Friday after President Trump backed down from his threat to veto a $1.3 trillion spending bill, a move that would have risked another U.S. government shutdown.

The Dow Jones index rose 0.3 percent, while the S&P 500 added 0.1 percent and the tech-heavy Nasdaq pared earlier declines. None of the moves came close to wiping out 2 percent slides on Thursday after Trump announced tariffs of 25 percent on some Chinese imports.