Stocks Get Trump Boost to Close at All-Time Highs: Markets Wrap
- US president urges lower crude prices, rate cuts at Davos
- Trump signs executive actions related to cryptocurrency, AI
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A late-day rebound in technology companies helped drive stocks to all-time highs, extending an advance fueled by President Donald Trump’s call for lower oil prices and interest rates.
About 330 shares in the S&P 500 rose, with the benchmark topping the 6,100 milestone. A closely watched gauge of chipmakers trimmed most of a slide that exceeded 2% earlier in the session. Meantime, a drop in crude — which tends to ease concerns about inflation — pushed the policy-sensitive two-year yield down. In late hours, Texas Instruments Inc. gave a disappointing earnings forecast. Boeing Co. reported revenue that missed analyst estimates.