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The S&P 500 rose to record highs once again on Thursday after President Donald Trump called for lower interest rates and cheaper oil prices.
The Dow Jones Industrials skyrocketed 408.34 points to wrap up Thursday’s session at 44,565.07.
The much-broader index leaped 32.34 points to 6,118.71.
The NASDAQ Composite resurfaced 44.34 points to 20,053.68. as Nvidia and Amazon pulled back.
The fourth-quarter earnings season is also off to a strong start, with Netflix and big banks offering positive reports. But American Airlines poured some cold water on that enthusiasm, with the stock tumbling more than 8% on Thursday after the company issued weak guidance.
Stocks took a modest leg up after Trump said Thursday in a virtual address to the World Economic Forum that he would “demand that interest rates drop immediately.” The president also said he would ask Saudi Arabia to lower the price of oil, which pulled crude into the red.
Prices for the 10-year Treasury slipped, raising yields to 4.65% from Wednesday’s 4.60%. Treasury prices and yields move in opposite directions.
Oil prices dropped $1.19 to $74.25 U.S. a barrel.
Prices for gold declined $9.20 an ounce to $2,761.70 U.S.
