Why Newsmax Stock Soared Today

Newsmax (NYSE: NMAX) stock closed out Tuesday's trading with big gains. The company's share price was up 9.3% at the end of the day and had been up as much as 13.4% earlier in the session.Newsmax's gains came amid a 2.5% rally for the S&P 500 and a 2.7% jump for the Nasdaq Composite. In addition to the bullish backdrop shaping the broader market's trading, the stock saw gains driven by the announcement of a new distribution deal.The stock market bounced back from sell-offs in Monday's trading thanks to comments from U.S. Treasury Secretary Scott Bessent. According to Bloomberg, Bessent said today that the U.S.-China trade war is unsustainable and that there is potential for de-escalation in the near term. Investors have been looking for signs of potential off-ramps as trade tensions have escalated, and today's news helped power big gains for Newsmax and the market at large.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool