U.S. stocks rose in early trading Wednesday as Wall Street weighed the latest developments in the Trump administration's bid to win more deals with global trading partners. The S&P 500 was up 0.7%, a solid start after posting a slight loss a day earlier.

With the deadline for tariffs now moved to August 1, investors are pinning their hopes on negotiations to stave off an all-out trade war. "Market volatility is likely to pick up, but the latest development does not constitute an escalation in the trade war," UBS analysts said.