Wall Street staged a convincing broad-based rally on Thursday, with all three major indexes posting solid gains as investors latched onto fresh signals that the most aggressive phase of U.S. trade tensions may be cooling. Reports that the White House is open to negotiating tariff reductions with several trading partners — including selective rollbacks on tech-related goods — gave risk appetite a meaningful boost heading into the weekend.
Technology led the charge, with Nvidia jumping more than 5% on news of a new licensing arrangement that could preserve AI chip access in key markets. Mega-cap names like Meta, Apple, and Microsoft also climbed between 1.5% and 3%, dragging the Nasdaq to a 2.1% gain and making it the clear outperformer on the day. Breadth was healthy, with advancers outpacing decliners nearly 3-to-1 on the NYSE.
The one glaring exception to the celebratory tone was the healthcare sector, where UnitedHealth Group cratered more than 8% after a deeply disappointing earnings update. The insurer cut its full-year profit forecast, blaming surging medical costs that have rattled the managed care industry broadly. Humana and CVS Health also fell in sympathy.
Gold remained elevated near $3,310 as investors kept one eye on geopolitical uncertainty, while oil slipped modestly to $63.40 a barrel on demand growth concerns. The VIX eased to 24.6, still elevated by historical standards but a notable step down from the anxiety-driven levels seen earlier this month.