Stocks rebounded as President Donald Trump said he won't go ahead with Greenland tariffs, citing a "framework" for a future deal. Google and Eli Lilly lead new buys.

Stock futures advanced Thursday, a day after major equities indexes rebounded as President Donald Trump reduced tensions with European allies by backing off his threat of imposing new tariffs over Greenland.

Commodities are seeing a significant rebound today. WTI oil rose to $60, and natural gas extended its squeeze with another 20% daily gain. In the metals complex, gold and platinum rose 3% to fresh highs, while silver found resistance near $93.

Danish pension fund announced that it would sell Treasuries, raising worries about potential EU retaliation to Trump’s plans to acquire Greenland.

Investors revived the “Sell America” trade Tuesday and sold off US stocks, bonds and the dollar amid concerns about President Donald Trump’s clash with European leaders over ownership of Greenland.

US stock market rallied for a second straight day as investor confidence improved. The Dow Jones rose 245 points, while the S&P 500 and Nasdaq neared record highs. Investors cheered the withdrawal of threatened 10% tariffs on European allies.

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The Dow Jones Industrial Average dates back to May 26, 1896. Charles Dow, a journalist who helped start Dow Jones & Co.