Wall Street Closes Higher, Led by Gains in Tesla and Nvidia
Major U.S. stock indices finished Thursday’s session with solid gains, driven by a rally in big tech stocks following the release of a roadmap for Donald Trump’s reciprocal tariffs.
The Dow Jones Industrial Average rose 0.77% to 44,711.43 points, while the S&P 500 gained 1.04% to 6,115.07 points. The tech-heavy Nasdaq Composite climbed 1.50% to 19,945.64 points.
On Thursday, Trump signed a memorandum to impose “reciprocal tariffs” on countries that tax U.S. products, with an initial step requiring a 180-day fiscal impact report. This could delay implementation for several weeks.
Stocks also advanced following higher-than-expected U.S. producer price data. However, certain components of the Personal Consumption Expenditures (PCE) Index—closely monitored by the Federal Reserve—came in lower, easing inflation concerns.
Treasury yields declined, reflecting diminished fears after a spike in consumer inflation data the previous day. Tech giants were key drivers of the rally, with Tesla (+5.77%), Nvidia (+3.16%), and Apple (+1.97%) pushing the S&P 500 higher.
All sectors posted gains, led by basic materials (+1.71%), consumer discretionary (+1.60%), and technology (+1.50%). In the Dow Jones, standout performers included Nvidia, Cisco (+2.10%), and Apple, while Merck (-1.46%) was the worst performer.
Oil Market
Global oil prices edged lower on Thursday as traders assessed potential peace prospects in Ukraine, while European natural gas prices dropped sharply.
In London, Brent crude for April delivery slipped 0.21% to $75.02 per barrel. In New York, West Texas Intermediate (WTI) for March delivery dipped 0.11% to $71.29 per barrel.
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