US Stocks Close Higher After Trump's Davos Speech
U.S. equities closed in the green on Thursday, with the S&P 500 (^GSPC) setting a fresh record close as investors listened intently to President Donald Trump's address at the World Economic Forum in Davos.
The broad-based index finished the trading day up over 0.5%, securing its first all-time closing high of 2025. The Dow Jones Industrial Average (^DJI) advanced around 0.9% but failed to reach its own record, while the Nasdaq Composite (^IXIC) recovered from earlier losses to close approximately 0.2% higher.
Eyes turned to Trump's virtual speech at the World Economic Forum in Davos for further insight into his trade policy. The president stated that he "will demand that interest rates drop immediately." He also said he would request that OPEC lower oil prices.
Investors continue to digest Trump's early policy directives, which included an AI push that boosted tech stocks but left unclear when the outlined tariffs on major trading partners—a potential risk for inflation and stocks—might take effect.
Meanwhile, investors remain focused on earnings after Netflix (NFLX) set the stage for next week's flurry of Big Tech earnings reports. On the data front, official figures released Thursday showed that US jobless claims increased by 6,000 to 223,000. Economists had anticipated a reading of 220,000 for the week.