Stocks rose Thursday as positive inflation data and updates on President Donald Trump's tariff plans boosted broader market sentiment. The Dow Jones Industrial Average rallied over 300 points, while the S&P 500 Index and Nasdaq Composite added 1% and 1.5%, respectively.
Here's how the market settled on Thursday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
The Dow climbed to session highs on Thursday after Trump signed a presidential memorandum to create appropriate "reciprocal tariffs" on foreign nations but did not impose any new levies immediately after signaling that new tariffs would be issued earlier this week. Under the plan, the U.S. will treat other nations' non-tariff policies as unfair trade practices, and will enact duties in response.
"America has helped many Countries throughout the years, at great financial cost. It is now time that these Countries remember this, and treat us fairly," Trump wrote in a Truth Social post after the announcement.
Stocks initially rose higher earlier in the session after the release of the producer price index (PPI) on Thursday, which came more in-line with analyst expectations. January's PPI increased by a seasonally adjusted 0.4% on the month, the Bureau of Labor Statistics reported Thursday, slightly above the 0.3% estimated by Dow Jones. Meanwhile, core PPI, which excludes food and energy prices, came in-line with estimates at 0.3%.
"Wholesale price growth came in slightly higher than expected for January, and the read for December was adjusted upward," said Elizabeth Renter, senior economist at NerdWallet, quoted by CNBC. "In other words, inflation at the producer level remains high, and one concern is that this inflation could ultimately be passed along to consumers."
In the News:
Arm Holdings
For Friday:
Market participants will turn their attention to earnings reports from companies including Applied Materials
