U.S. stocks rose on Thursday, with major indexes climbing. Tech led the day’s rally, and the Nasdaq $NDAQ closed up slightly over 1%.
A cautious Fed, an AI search shakeup, and a surprising sales pop for Corona added fuel to Thursday’s market rally
U.S. stocks rose on Thursday, with major indexes climbing. Tech led the day’s rally, and the Nasdaq $NDAQ closed up slightly over 1%.
The S&P 500 rose 0.58% and the Dow Jones Industrial Average added 254 points, or 0.62%.
The surge was brought on by President Trump’s announcement of a trade deal Thursday with the United Kingdom— his first since April’s sweeping “Liberation Day” tariffs.
In other White House news, Trump is also expected to roll back and replace Biden-era AI chip rules.
Markets are absorbing Federal Reserve Chair Jerome Powell’s latest remarks. The central bank announced Wednesday that it will hold interest rates steady, with Powell taking a wait-and-see stance.
While the job market remains healthy and core inflation is easing, tariffs are introducing new economic uncertainty, Powell said. He made it clear the Fed is in no rush to shift course, emphasizing the need for more data — especially on how tariff-driven price pressures play out.
Elsewhere, central banks abroad are cutting rates, but they’re not contending with the exact same inflationary wildcards.
During federal antitrust testimony, Apple executive Eddy Cue said Safari search volume had declined for the first time — signaling that users are already shifting toward AI alternatives. With Google paying Apple an estimated $20 billion a year for default status, the news rattled investors and sparked fresh concerns about Alphabet’s long-term search moat.
Apple shares initially fell 2% on the same news, but both companies gained on Thursday, with Alphabet up 1.9% and Apple up 0.6%, too.
Mega-brands such as Corona — up 11% outside its home market — led the way, while no-alcohol and direct-to-consumer sales also notched meaningful gains. The company reiterated its 2025 outlook and emphasized ongoing investments in premium products and digital platforms.
Shopify $SHOP (SHOP) reported before the bell today. Energy majors ConocoPhillips $COP (COP) and Cheniere Energy $LNG (LNG) also announced earnings today, alongside Canadian Natural Resources (CNQ) and Brookfield (BAM), offering a look at global demand, margins, and infrastructure amid falling oil prices.
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