Stocks have clawed their way to another record high this week as investors continued to extend increasingly precarious bets on trade. Traders and investors have ridden an extraordinary spring rally by betting against President Donald Trump’s myriad tariff threats,

Markets had dismissed tariff risks under the assumption that Trump would follow an earlier pattern and back off, in what became known as the so-called TACO trade. That allowed stocks to reach new record-high territory recently, marking a stunning rebound from the collapse triggered by his “Liberation Day” reciprocal tariffs in April.

The U.S. has agreed to let Nvidia sell its advanced H20 computer chips to China just days after President Donald Trump met with the company’s chief executive, his “friend” Jensen Huang. The decision,

Goldman Sachs's trading revenue for the second quarter was worth $4.3 billion, $600 million higher than expectations.

Trump said that about “10 or 12” tariff letters would go out Friday, with additional letters coming “over the next few days.”

Stocks have climbed well off their post-Liberation Day lows, a sign that investors have moved past the trade-related concerns that led to those lows in the first place. They could be right—but some investors say that waving aside trade matters is a risky bet.

There’s a new trade on Wall Street: the TACO trade, standing for “Trump Always Chickens Out.” The term was coined by Robert Armstrong, a writer for the Financial Times, and is intended to ...