US stocks are floating near all-time highs as Wall Street maintains cautious optimism that Washington might ink more trade deals, avoiding a worst-case scenario of extraordinarily high tariffs and enabling the resilient economy to continue chugging along.

After unleashing market chaos on April 2 ("Liberation Day") when he unveiled a laundry list of heavy tariffs for countries around the world, they were paused for 90 days after the stock market dramati...