U.S. Stocks Approach Record Highs in Latest Trading Session
The U.S. stock market made gains on Thursday, with the S&P 500 nearing its all-time high and the Dow Jones Industrial Average and Nasdaq also rising. Companies like McCormick and chip maker Nvidia contributed to the positive momentum. Despite concerns about tariffs and economic growth, reports showed signs of resilience in the U.S. economy.
The U.S. stock market is close to reaching a new record high. The S&P 500 is just 0.05% below its all-time closing high set in February. The Dow Jones Industrial Average rose 0.9% and the Nasdaq composite gained 1%. McCormick, a cooking spices seller, saw a 5.3% jump in its stock after a strong profit report. Big technology stocks like Nvidia and Super Micro Computer have been leading the market. Micron Technology reported better-than-expected profit and revenue. The S&P 500 closed at 6,141.02, the Dow Jones at 43,386.84, and the Nasdaq at 20,167.91.
Wall Street is still concerned about the impact of Trump's tariffs on the economy. Recent reports show positive signs for the economy, with increased orders for manufactured goods and fewer layoffs. Treasury yields fluctuated in response to market news. Analysts are watching for Trump's nominee to replace Fed Chair Jerome Powell, which could impact investor confidence in the Fed's decision-making process.
In international markets, European indexes were mixed, with Japan's Nikkei 225 rising 1.6% and South Korea's Kospi falling 0.9%.
According to the source: BNN Bloomberg.
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