Nasdaq outperforms as markets cheer trade progress, Fed stability

4:11pm: Steady Fed US markets shot higher on Wednesday, picking up right where they left off in the previous session. Investors were feeling upbeat, thanks to some encouraging signs on the U.S.-China trade front and a bit of reassurance from the White House about the future of the Federal Reserve. The Dow rose 420 points, or 1.1%, to finish at 39,607, while the S&P 500 added 88…