US stocks shrug off Trump’s tariff pledge to finish higher
The S&P 500 and Nasdaq 100 rose 0.5% while the Russell 2000 gained 1.1% on Thursday.
Utilities were the best-performing S&P 500 sector ETF. Vistra, which was crushed on Monday’s DeepSeek sell-off, continued its fierce bounce back with a double-digit gain. Every sector rose, with tech and communication services lagging.
Shares of Microsoft plummeted after posting underwhelming cloud revenue growth, with the stock now significantly trailing the Nasdaq 100 since the launch of ChatGPT.
Mark Zuckerberg’s renewed commitment to an AI spending binge helped lift shares of Meta. Broadcom, a key partner for Meta in its AI build-out, soared.
IBM had its best day since the dawn of the new millennium as its AI strategy bore fruit.
Alphabet jumped as Waymo announced plans to expand its autonomous vehicles to San Diego and Las Vegas.
Despite profits tumbling, Tesla rose. JPMorgan thinks it’s absurd the stock went up today.
GM and Ford erased gains to finish lower after President Trump committed to 25% tariffs on imported goods from Canada and Mexico.
