(Sharecast News) - US stocks delivered solid gains on Thursday despite ongoing tariff worries, with both the S&P 500 and Nasdaq Composite closing at fresh record highs.
At the close, the Dow Jones Industrial Average was up 0.43% at 44,650.64, while the S&P 500 advanced 0.27% to 6,280.46 and the Nasdaq Composite saw out the session 0.09% firmer at 20,630.66.
The Dow closed 192.34 points higher on Thursday, extending gains recorded in the previous session after minutes from the latest Federal Reserve meeting opened the door to another rate cut this year.
Donald Trump said late on Wednesday that he was now instituting a 50% tariff on imported copper, with effect from 1 August, and also announced a 50% tariff on Brazil, principally in retaliation for its ongoing trial against former president Jair Bolsonaro for his role in an alleged attempt to overturn Brazil's 2022 election results. Trump also said the tariffs were due to a "very unfair trade relationship" with Brazil.
Brazilian president Luiz Inacio Lula da Silva said that his country would respond to the new levy in accordance with its economic reciprocity law.
Before his Brazil tariff announcement, Trump sent letters that outlined new US import duties on at least seven additional countries, just days after he sent letters spelling out new rates to the leaders of 14 other countries, including Japan and South Korea.
On the macro front, Americans lined up for unemployment benefits at a decelerated pace in the week ended 5 July, according to the Labor Department, pointing to a labour market that remains relatively robust despite high interest rates and economic uncertainty.
Initial jobless claims fell to 227,000, dropping from a downwardly revised reading of 232,000 in the prior week and marking the fourth consecutive decline and the lowest count in seven weeks. Continuing claims rose by 10,000 to 1.965m, the highest level since November 2021, while the four-week moving average, which aims to strip out week-to-week volatility, decreased by 5,750 to 235,500.
In the corporate space, Delta Air reinstated its FY25 profit guidance on Thursday as it pointed to a rebound in consumer demand, while jeanmaker Levi Strauss raised FY guidance on the back of solid demand for its denim products.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
American Express Co. (AXP) $325.24 2.49%
McDonald's Corp. (MCD) $298.53 1.83%
Goldman Sachs Group Inc. (GS) $708.89 1.80%
JP Morgan Chase & Co. (JPM) $288.19 1.78%
Intel Corp. (INTC) $23.82 1.58%
Caterpillar Inc. (CAT) $408.33 1.53%
Nike Inc. (NKE) $74.62 1.44%
Apple Inc. (AAPL) $212.41 1.40%
Dow Chemical Co. (DOW) $30.21 1.31%
Amgen Inc. (AMGN) $300.37 1.04%
Dow Jones - Fallers
Salesforce.Com Inc. (CRM) $263.88 -2.57%
Walmart Inc. (WMT) $94.87 -2.01%
Verizon Communications Inc. (VZ) $42.01 -1.36%
Unitedhealth Group Inc. (UNH) $299.32 -1.12%
International Business Machines Corporation (CDI) (IBM) $287.43 -0.93%
Visa Inc. (V) $355.77 -0.53%
Boeing Co. (BA) $226.09 -0.23%
Dowdupont Inc. (DWDP) $0.00 0.00%
Microsoft Corp. (MSFT) $501.48 0.07%
Travelers Company Inc. (TRV) $255.95 0.26%
S&P 500 - Risers
Delta Airlines Inc. (DAL) $56.81 11.99%
United Airlines Holdings Inc (UAL) $91.67 11.72%
American Airlines Group (AAL) $12.94 10.32%
Alaska Air Group Inc. (ALK) $54.18 8.95%
Nektar Therapeutics (NKTR) $25.10 8.92%
Southwest Airlines Co. (LUV) $37.35 8.14%
Estee Lauder Co. Inc. (EL) $92.10 6.34%
Norwegian Cruise Line Holdings Ltd (NCLH) $23.15 5.42%
Albemarle Corp. (ALB) $74.27 4.92%
Illumina Inc. (ILMN) $100.05 4.19%
S&P 500 - Fallers
Autodesk Inc. (ADSK) $286.11 -9.63%
Fortinet Inc. (FTNT) $100.20 -7.50%
AES Corp. (AES) $12.41 -6.41%
Cognizant Technology Solutions Corp. (CTSH) $76.73 -5.19%
Intuit Inc. (INTU) $747.90 -4.41%
ConAgra Brands Inc (CAG) $19.49 -4.37%
Dxc Technology Company (DXC) $15.12 -3.82%
Mosaic Company (MOS) $35.90 -3.70%
Monster Beverage Corp (MNST) $59.17 -3.44%
Adobe Systems Inc. (ADBE) $371.43 -3.16%
Nasdaq 100 - Risers
American Airlines Group (AAL) $12.94 10.32%
Tesla Inc (TSLA) $309.87 4.32%
Illumina Inc. (ILMN) $100.05 4.19%
Align Technology Inc. (ALGN) $204.48 3.77%
Dollar Tree Inc (DLTR) $108.37 3.71%
Incyte Corp. (INCY) $70.33 3.44%
Wynn Resorts Ltd. (WYNN) $111.92 3.03%
eBay Inc. (EBAY) $77.23 2.67%
Vertex Pharmaceuticals Inc. (VRTX) $479.53 2.49%
Synopsys Inc. (SNPS) $566.19 2.48%
Nasdaq 100 - Fallers
Autodesk Inc. (ADSK) $286.11 -9.63%
Cognizant Technology Solutions Corp. (CTSH) $76.73 -5.19%
Workday, Inc. (WDAY) $229.30 -4.85%
Intuit Inc. (INTU) $747.90 -4.41%
Mercadolibre Inc. (MELI) $2,402.10 -3.46%
Monster Beverage Corp (MNST) $59.17 -3.44%
Adobe Systems Inc. (ADBE) $371.43 -3.16%
T-Mobile Us, Inc. (TMUS) $228.15 -2.79%
NetEase Inc. Ads (NTES) $127.58 -2.65%
Take-Two Interactive Software Inc. (TTWO) $235.33 -2.56%
34.54 (0.38%)
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