The bounce in U.S. stocks gained momentum on Wednesday as the Trump administration turned down the heat on its trade war with China that has so rattled markets, while the president distanced himself from his own calls for the immediate termination of Federal Reserve chair Jerome Powell.

Wall Street’s momentum is slowing Thursday following its big two-day rally, as more U.S. companies say uncertainty created by President Donald Trump’s trade war is scrambling their expectations for the year.

U.S. stocks are drifting higher as better-than-expected profits for U.S. companies pile up, though CEOs say they’re unsure about whether it will last amid uncertainty around the trade war. The