The benchmark S&P 500 rose to a record closing high on Thursday, as investors assessed a mixed bag of corporate earnings and digested comments from President Donald Trump, including a call for cuts in interest rates and oil prices.
The broad based index finished the trading day up over 0.5%, securing its first all-time closing high of 2025. The Dow Jones Industrial Average ( ^DJI) popped around 0.9%, but was unable to secure its own record, while the Nasdaq Composite ( ^IXIC) recovered from earlier losses to close up about 0.2%.
Oil prices fell after Trump's comments, while the 10-year US Treasury yield rose, signaling that Trump may have less influence on interest rates.
Track the market's reaction to President Donald Trump's speech in Davos, Switzerland, as well as corporate earnings and other developments on Thursday.
U.S. West Texas Intermediate crude (WTI) fell $1.01, or 1.34%, to $74.43. The broader economic implications of U.S. tariffs could further dampen global oil demand growth, said Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova.
Stocks ended mostly higher Thursday, with the S&P 500 notching its first record finish since Dec. 6 — and its first of President Donald Trump's second term. It didn't take much, after the large-cap benchmark ended just shy of a record in Wednesday's session.
The S&P 500 ( ^GSPC) was little changed, coming off a three-day win streak that saw the benchmark index close Wednesday on the cusp of setting a new all-time high. The Dow Jones Industrial Average ( ^DJI) traded 0.2% higher, with a record not far off.
During his speech in World Economic Forum at Davos, Trump urged companies to manufacture their products in the US and vowed to offer tax relief or else face tariffs. In his speech, Trump also revealed his plan to lower interest rates and ask OPEC to lower oil prices.
Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
The S&P 500 reached an all-time high as investors navigated through corporate earnings and President Trump's comments on interest rates and oil prices. Tariff uncertainties have increased market apprehension,
JPMorgan CEO Jamie Dimon sounded the alarm on stocks in an interview today at the World Economic Forum in Davos, Switzerland, saying that the market looks overvalued. "Asset prices are kind of inflated, by any measure," Dimon told CNBC in Davos. He added that "they are in the top 10% or 15%" of historical valuations.