S&P 500 Hits Record High
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US stocks ended Thursday on a strong note, with the S&P 500 breaking past the 6,100 mark for the first time, setting a fresh record.
The Dow Jones Industrial Average rallied more than 400 points, while the Nasdaq 100 posted a modest 0.3% gain.
Investor optimism was fueled by President Trump’s virtual address to the World Economic Forum, in which he advocated for immediate interest rate cuts and pressed Saudi Arabia to lower oil prices—moves that could stimulate economic growth and consumer spending.
Corporate earnings also played a crucial role in the market’s rally.
General Electric surged 6.6%, and Union Pacific climbed 5.2%, helping to propel industrial stocks higher.
Defensive sectors, which had underperformed in the prior session, showed renewed strength.
However, the upbeat mood was somewhat dampened by American Airlines’ disappointing outlook, which sent its shares tumbling 8.7%.
Despite lingering trade tensions, particularly concerns over potential tariffs on Canadian aluminium, market sentiment remained resilient.
Investors were buoyed by strong earnings reports, confidence in Trump’s pro-business policies, and an overall optimistic economic outlook.
Still, caution lingers as traders brace for potential volatility ahead of the upcoming Federal Reserve meeting, where policymakers’ stance on interest rates could shape market direction.
Data: Trading Economics