· 2h · on MSN
S&P 500 notches closing record with focus on Trump comments, earnings
The S&P 500 closes at a record high as Trump pushes for cheaper oil and lower interest rates
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.
S&P 500 closes at a new record, Dow jumps 400 points as Trump pushes for low rates, oil
Stocks took a leg up after Trump said Thursday in a virtual address to the World Economic Forum that he would “demand that interest rates drop immediately.”
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%.
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 Dow Jones Industrial Average ( ^DJI) moved to a session high, up 0.5% while the S&P 500 ( ^GSPC) gained 0.2%. The Nasdaq Composite ( ^IXIC) fell slightly. President Trump spoke remotely at the World Economic Forum in Davos, Switzerland, appearing via video to a packed room of CEOs and world officials.
U.S. stocks rose to a record as Wall Street regained some of the momentum that catapulted it to 57 all-time highs last year.
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.
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.
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,
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