US stocks were ticked Thursday and continued their winning streak as investors look forward to progress in trade transactions.
The Dow Jones industrial average had scored 240 points (0.6%) by 10:45am ET, with the S&P 500 rising 1.1% and the Nasdaq rising 1.6%.
Market optimism emerged despite President Trump’s suggestion earlier this week that lower fees were ongoing, but there was no discussion with the White House about tariffs.
Trump’s comments helped ease the fear of investors that a 145% tax on Beijing could raise the price of electronics, toys, clothing and other items, and could sweep the complex global supply chains violently.
The Dow on Wednesday exceeded 1,100 points before cutting profits to close the 419, informing China that low rates are ongoing, backed by his threat to FRED Fed Chairman Jerome Powell.
Treasury Secretary Scott Becent also suggested that tensions be removed between the two countries, but Secretary General Karolyn Leavitt argued that there were 18 trade proposals “on paper.”
On Thursday, shares in “Nvidia, Alphabet, Meta, Tesla, Apple, Microsoft, Amazon” rose as traders continued to look for signs that would ease global trade tensions.
In addition to uncertainty, corporate revenue this week revealed mixed results, with some major companies cutting forecasts and warning of price increases when the trade war heats up.
Procter & Gamble, which owns brands such as Tide, Pampers, Puffs and Crest, has cut revenue outlook and warned that price increases are “highly likely.”
Soda and snack maker PepsiCo has also reduced profit forecasts and warned that tariffs are likely to increase costs along the supply chain and exacerbate volatility.
LG said it could raise prices for electronics and home appliances and is considering changes in some production into the US.
