FX.co ★ US Stocks Set for Third Straight Gain as Tech Leads

U.S. stocks surged on Thursday, marking a potential third consecutive day of gains, driven primarily by large-cap technology companies. This came as investors assessed conflicting signals from the Trump administration regarding tariffs and trade negotiations with China. The S&P 500 increased by 1.8%, the Nasdaq 100 soared 2.4%, and the Dow Jones Industrial Average rose by 300 points. Optimism was further bolstered by expectations of a Federal Reserve rate cut, following remarks from Cleveland Fed President Hammack, who indicated a possible rate adjustment in June if supported by economic data. Despite this positive outlook, the market remained cautious due to contradictory statements on trade policy—President Trump hinted at easing tariffs, while Chinese officials denied ongoing negotiations and insisted on the removal of all unilateral tariffs. Shares of Nvidia, Meta, Amazon, Tesla, and Microsoft each saw a 2% increase. Meanwhile, investors are preparing for upcoming earnings reports from Alphabet and Intel, which are anticipated to offer insights into the trade war's impact on major corporations. IBM experienced a 7% decline after disappointing results, while Procter & Gamble fell 4% after revising its guidance downward.