The S&P 500 rose on Thursday, boosted by technology stocks, as investors jumped in after a string of strong earnings results.
The broad market index rose 0.58% to close at 6,738.44, while the Dow Jones Industrial Average gained 144.20 points, or 0.31%, to end at 46,734.61. The Nasdaq Composite beat expectations, rising 0.89% to end at 22,941.80, supported by gains from the likes of Nvidia, Broadcom and Amazon.
A nearly 3% jump in shares of another artificial intelligence player, Oracle, also helped boost the market.
Indices hit session highs after White House spokeswoman Caroline Leavitt said during a press briefing that President Donald Trump will meet with Chinese President Xi Jinping next Thursday in South Korea, SEEbiz reports. The announcement eased investor fears about U.S.-China relations that weighed on stocks on Wednesday.
The rise in the S&P 500 index marks a full recovery and more than the significant losses seen in the previous session, when the index fell by about 0.5%. The Dow lost about 334 points, or 0.7%, while the Nasdaq fell 0.9% as investors pulled out of riskier assets.
Stocks ended lower on Wednesday after Treasury Secretary Scott Bessent confirmed that the White House is considering plans to restrict exports to China made with American software. The plans would follow Trump’s announcement nearly two weeks ago that the US would impose export restrictions on “any critical software” by November 1.
