S&P 500 rises for a fourth day, Dow adds 140 points: Live updates

The S&P 500 rose for a fourth straight day Thursday, adding to the benchmark’s tear this week after the Trump administration and China hammered out a temporary suspension of their tit-for-tat tariff dispute.

The broad market index added 0.3%, while the Nasdaq Composite gained 0.1%. The Dow Jones Industrial Average added 162 points, or 0.4%.

Confidence in the immediate outlook for stocks has strengthened in the wake of last weekend’s talks between Treasury Secretary Scott Bessent and Chinese officials that appeared to stave off a short-term decline in economic activity and a ratcheting up in inflation.

Tech giants are putting up a strong showing week to date: Nvidia and Tesla are both up more than 14% and 13%, while Meta Platforms has added 10% in the period. Amazon and Alphabet are up more than 7% and 6% and 8%, respectively. The Nasdaq Composite is higher by 6.% this week, trailed by the S&P 500, ahead 3.9%, and the Dow, up 1.7%.

“This is a market that has shifted to cautious optimism, i.e., market sentiment has shifted toward measured optimism, as recession fears begin to recede and equity markets demonstrate underlying strength. However, a number of macro and micro risks continue to form a ‘wall of worry’ that investors must navigate,” said Joe Cusick, senior vice president and portfolio specialist at Calamos Investments. “The next phase will hinge on whether the current rally can broaden and sustain through the summer months, or whether it gives way to a healthy consolidation or correction.”

Shares of Foot Locker surged 84% after the company announced that it would merge with Dick’s Sporting Goods for $2.4 billion. UnitedHealth slid 14% after The Wall Street Journal reported, citing people familiar, that the Justice Department is probing the insurer. A UnitedHealth spokesman later told CNBC that the insurer has not been notified by the DOJ of the “supposed” investigation reported.

Traders also assessed the state of the economy on Thursday, with an unexpected decline in wholesale prices last month. The producer price index for April declined 0.5% month-over-month, the Bureau of Labor Statistics said. Economists polled by Dow Jones forecast PPI would increase 0.3% on the month. Retail sales increased 0.1% in April, which matched consensus estimates, while industrial production numbers for April decreased slightly more than expected.