U.S. stock index futures leapt on Wednesday after President Donald Trump pulled back on his threats to fire Federal Reserve Chair Jerome Powell and raised hopes for a trade deal with China. Shares of Tesla,

U.S. stocks were higher after President Donald Trump said he has “no intention” of firing the Fed chair and was said to be mulling lighter tariffs.

Donald Trump is 'folding' to China over tariffs - or at least, that's what social media users would have you believe. The president has appeared to signal a U-turn on tariffs on Chinese goods after weeks of trade war speculation – and people have been quick to mock his ‘art of the deal’ on social media.