US Stock Market Today: Wall Street Indices Edge Higher As Trump's Chip Tariffs Include Broad Exemptions
The gains were led by information technology, financials and consumer staples.
All the three major US stock indices edged higher during the early minutes of trade on Thursday as the chip tariffs announced by US President Donald Trump include broad exemptions.
The S&P 500 rose 0.73% while the Nasdaq Composite climbed 1.21%. The Dow Jones Industrial Average also climbed 0.18%.
Among the stocks that gained in early trade were Apple Inc., Nvidia Corp. and Amazon.com. Stocks like Walt Disney Co., Walmart Inc. and Honeywell International Inc. slipped in the early minutes of trade.
Among the 11 S&P 500 sectoral indices, five were trading lower, while six traded higher against the previous day's close. The gains were led by information technology, financials and consumer staples.
“Markets are thriving in a risk-on fashion today as investors shift their focus from volatile trade developments and lackluster economic data to robust corporate earnings,” said Jose Torres at Interactive Brokers.
“Apple’s announcement of a $100 billion domestic manufacturing investment is additionally propelling 'animal spirits'," Jose Torres said.
As the US market opened, spot gold was trading 0.53% higher at $3,387.23, and Brent crude oil was trading 0.12% higher at $66.97.
The Bloomberg Dollar Index fell 0.4% while the British pound climbs 0.4% to $1.3358 while the Japanese yen soars 0.3% to 147.18 per dollar.
Bitcoin, the largest traded cryptocurrency rose 1.4% to $115,291.2.
