Stocks rose on Wall Street on Thursday, brushing aside fresh worries over US President Donald Trump’s latest round of tariffs that kicked in on dozens of countries. The S&P 500 gained 0.5% in early trading, hovering just below its all-time high set last month while Dow gained 200 points and Nasdaq climbed 1%. DJIA was up 152 points or 0.3%, trading at 44,345. Nasdaq followed the suit, climbing 0.78% or 164 points, reaching 21,333. S&P 500 traded at 6,374, up 29 points or 0.4% at 7:20 PM IST. The gains came even as investor unease lingered over the potential damage Trump’s trade policies might inflict on the economy. His new tariffs, which took effect Thursday morning, are seen as part of an ongoing trade push that has rattled markets and policymakers globally. Some nations are still in talks to reduce the tax rates on their exports, but for now, uncertainty remains the only constant on Wall Street. Still, investors seemed more focused on the prospect of interest rate cuts. Hopes are building that the Federal Reserve will step in with rate reductions to support the economy. While lower interest rates can lift markets and spur economic activity, they also risk pushing inflation higher. “The US stock market faces criticism that it’s climbed too far, too fast since hitting a bottom in April and left prices looking too expensive,” said analysts. Meanwhile, the first piece of government labour market data since last Friday’s grim jobs report showed that weekly jobless benefit applications rose by 7,000 to 226,000. Although it marked a slight uptick, the number still sits within a normal range. The bond market remained relatively stable as fresh US economic data painted a mixed picture. While the slight rise in unemployment claims could hint at more layoffs, the broader trend remains steady. Across the Atlantic, the Bank of England also moved to stimulate growth by cutting its main interest rate in response to a sluggish U.K. economy. Back in the US, Apple was one of the standout performers on Wall Street. Its stock rose 1.8% after CEO Tim Cook appeared alongside President Trump at the White House on Wednesday, announcing the tech giant would boost its U.S. manufacturing investment by an additional $100 billion over the next four years. Investors are betting Apple’s scale will help it adapt to the new economic landscape being shaped by Trump’s policies.
