Major U.S. indexes end higher; S&P up ~0.5%
Utilities best S&P performing sector; Tech sole decliner
Dollar higher; crude gains; gold, bitcoin both up >1%
U.S. 10-Year Treasury yield dips to ~4.53%
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U.S. STOCKS RISE BUT TARIFF TALK DENTS ADVANCE LATE
U.S. stocks advanced on Thursday, as gains in names such as Tesla TSLA.O, Meta Platforms META.O and IBM IBM.N overshadowed a drop in Microsoft MSFT.O, while comments from President Donald Trump about tariffs curbed the advance late in the session.
Stocks managed to steady after a brief dip following comments from Trump where he said he would place 25% tariffs on Canada and Mexico, although he still had not decided about tariffs on oil.
Tesla gained nearly 3% despite soft fourth quarter earnings as CEO Elon Musk said cheaper models would be launched in the first half of 2025.
Microsoft and Meta went in opposite directions on the day, as investors gauged the artificial intelligence outlook for both companies a day after reporting results.
IBM, surged nearly 13%, it's biggest daily percentage jump in nearly 26 years as it topped earnings, helped by a shift to AI. The gain more than offset the decline in Microsoft on the Dow Industrials .DJI.
Nearly all 11 S&P 500 sectors advanced, led by a jump of more than 2% in utilities .SPLRCU, while tech .SPLRCT was the sole decliner.
Below is your closing market snapshot:
(Chuck Mikolajczak)
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FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:
COULD BETS ON PICKS AND SHOVELS BE A MISTAKE? - CLICK HERE
RETAIL TRADERS BOUGHT THE DIP AS NVIDIA SAW ITS BIGGEST WIPEOUT ON RECORD - CLICK HERE
THURSDAY DATA ROUNDUP: GDP, JOBLESS CLAIMS, PENDING HOME SALES - CLICK HERE
U.S. STOCKS CLIMB ON META LIFT BUT MICROSOFT WEIGHS - CLICK HERE
BANKS BRIGHTEN, TECH TARNISHED, TO KICK OFF 2025 - CLICK HERE
"TARIFF MAN IS COMING" - BRACE YOURSELF - CLICK HERE
'JEVONS PARADOX': A NEW BUZZWORD AFTER DEEPSEEK AI SELL-OFF - CLICK HERE
FRANKFURT TOPS THE CHARTS, MADRID BACK TO 2008 LEVELS - CLICK HERE
BEFORE THE BELL: MAG7 MIXED, BIG EARNINGS DAY IN EUROPE - CLICK HERE
ECB UP NEXT AFTER FED LACKS CLARITY - CLICK HERE
Closing levels Jan 30 https://tmsnrt.rs/3Cz02LB
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)
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