U.S. Stocks Rise on Tech Gains Amid Trade Uncertainty
U.S. stocks finished higher on Thursday,thanks to a boost from major tech companies. Teh Nasdaq Composite soared by 2.74%, while the S&P 500 climbed 2.03%. The Dow Jones Industrial Average also rose,gaining 1.23%, despite IBM’s 6% drop due to lost government contracts.
Key tech stocks like Nvidia, Meta, Amazon, Tesla, and Microsoft all saw gains. This lifted the broader market and marked the third consecutive day of tech sector growth.
However, trade talks between the U.S. and China remain unclear. China’s commerce ministry denied ongoing negotiations and called for the removal of existing tariffs. President Trump, though, seemed to soften his stance, with Treasury Secretary Scott Bessent hinting at a possible deal with South Korea.
Analyst Ross Mayfield from Baird was skeptical about the rally’s sustainability. He noted that China had explicitly stated there were no ongoing negotiations. “The market may still be reacting to signals that the administration wants a deal,” he said.
Despite the optimism, investors remain cautious. The S&P 500 is down 3.5% since Trump’s April 2 tariff announcement, with the Dow and Nasdaq also showing declines.
Upcoming earnings from Alphabet, Google, and Intel will be closely watched. Analysts will look for any signs of tariff-related impacts. Intel’s results will also mark the debut of new CEO Lip-Bu Tan.
Simultaneously occurring, Bitcoin (BTC) traded around the $93,000 mark for most of the day.
