The Dow Jones Industrial Average jumped 353.01 points to 26,465.54 as 3M and Boeing outperformed. The S&P 500 climbed 1% to2,917.75 while the Nasdaq Composite advanced 1.4% to 7,953.88. The S&P 500 also closed 1.2% from its all-time intraday high of2,954.13, which was reached May 1.

“Certainly, there’s ground for optimism,” said Michael Geraghty, equity strategist at Cornerstone Capital Group. “However, we have to remember there have been a lot of negotiations between China and the U.S. where they seem to be close to a deal and then things fell apart.”

· European stocks closed sharply higher on Tuesday, after ECB President Mario Draghi suggested in a speech that the central bank will provide more stimulus — either through new rate cuts or asset purchases — if inflation does not pick up.

The pan-European Stoxx 600 recovered from an early drop to end the session 1.8% higher, marking a one-month high. All sectors and major bourses were in positive territory, with basic resources leading the gains and surging by almost 3%.

· Asian share markets jumped on Wednesday as investors dared to hope the Federal Reserve would follow the lead of the European Central Bank and open the door to future rate cuts at its policy meeting later in the day.

Adding to the cheer was news U.S. President Donald Trump would meet with Chinese President Xi Jinping at the G20 summit later this month, and that trade talks would restart after a recent lull.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.6% in early trade, adding to a 1% gain the day before.

Japan’s Nikkei rose 1.5% and South Korea 1.1%. E-Mini futures for the S&P 500 were a fraction firmer after a upbeat Wall Street session.