Asian stock markets headed for a second straight week of gains on Friday and the dollar for its first weekly rise in more than a month as investors have welcomed an apparent softening of the White House stance on China,

President Donald Trump said he has not backed down on the 145% tariff on China and said reciprocal tariffs on other nations could resume within weeks.

The Dow, S&P 500 and Nasdaq Composite are on pace for a second day of gains after President Trump said he won’t fire Federal Reserve Chairman Jerome Powell after all, but he still pushed him to cut interest rates now.

Stocks opened higher in early trading Wednesday. The surge comes after Donald Trump backed off threats to fire the chairman of the Federal Reserve and showed a willingness to lower tariffs on China. Stocks continued to rally early Wednesday after Donald Trump backed off threats to remove the chairman of the Federal Reserve and signals that tariffs on Chinese imports could be lowered in the weeks to come.

A worldwide rally is coming back around to Wall Street following updates from President Donald Trump about his plans for the Federal Reserve and his trade war that investors found encouraging. The S&P 500 was 2.