US Stocks Book Strong Gains
Stocks in the US were higher on Thursday, with the S&P 500 adding 0.6%, the Nasdaq rising 0.9% and the Dow Jones soaring nearly 270 points, as investors assess the latest tariff developments and corporate news.
Market sentiment was buoyed by President Trump’s announcement of a 100% tariff on imported semiconductors—excluding companies that are “building in the US.” In response, Nvidia, Broadcom and AMD rose 1.6%, 1.2% and 2.5% respectively. Apple also gained 2.6% after announcing plans to invest an additional $100 billion in the US. Meanwhile, a broad set of tariffs affecting nearly all US trading partners came into effect today.
Optimism over progress in the Ukraine-Russia conflict also supported markets. On the corporate front, Eli Lilly shares tumbled 13% after the company released disappointing study results for its weight-loss pill. Intel fell more than 1.5% after President Trump publicly called for the resignation of its CEO.
Source: Trading Economics