Major U.S. stock indexes rallied and the dollar stabilized, as investors welcomed comments from the White House on tariff negotiations.

The company’s initial public offering (IPO) last month was met with lukewarm investor interest, leading CoreWeave to cut both its offering price and share allocation in the days leading up to its debut. Since then, the stock has struggled to gain its footing, falling more than 40% from its post-IPO highs.

Treasury Secretary Scott Bessent told investors Tuesday that the US-China trade war is unsustainable and he expects the battle to de-escalate, a person familiar with the matter confirmed to CNN, giving a brief boost to a Wall Street rally that had taken shape this morning.