Wall Street Soars as Tech Leads Market Rally Amid Easing Trade Tariff Tensions

Wall Street saw an uptick, driven by technology shares, amidst mixed corporate earnings and progress in easing U.S.-China tariffs. ServiceNow's strong performance boosted the Nasdaq. While Procter & Gamble and PepsiCo cut forecasts due to economic uncertainty, 74% of S&P 500 firms exceeded expectations. Technology shares led sector gains.

Wall Street extended a strong rally on Thursday, with tech shares leading the charge amid mixed corporate earnings and signs of easing U.S.-China trade tensions. The Nasdaq gained momentum from ServiceNow's stellar results, as the AI-powered software company's shares surged 14.8%.

Amid calls from Beijing to cancel U.S. tariffs and potential de-escalation signals from U.S. Treasury Secretary Scott Bessent, investors were left speculating on the White House's next move. Senior Portfolio Manager Thomas Martin from GLOBALT noted the ongoing volatility and the uncertainty it injects into the market.

Meanwhile, consumer-focused firms like Procter & Gamble and PepsiCo revised forecasts due to economic unease, while S&P 500 companies continued to exceed expectations. Technology shares, notably boosted by companies like Alphabet and Intel, posted robust gains as the Dow, S&P 500, and Nasdaq all closed higher.

(With inputs from agencies.)