Trump's Economic Proposals Boost S&P 500 to Record High

The S&P 500 hit a record high as investors weighed corporate earnings and President Trump's calls for interest rate and oil price cuts at the World Economic Forum. While Trump's policies have fueled market optimism, concerns about tariffs persist. The Fed remains focused on economic data for future rate decisions.

On Thursday, the S&P 500 reached a record closing high, fueled by a mix of corporate earnings results and President Trump's comments at the World Economic Forum in Davos. Trump called for reductions in interest rates and oil prices, while urging businesses to avoid tariffs by producing goods within the U.S.

Investors appreciated the potential benefits of Trump's economic proposals, although concerns remain over inflation and the impact of tariffs. Federal Reserve decisions are anticipated to continue prioritizing economic data over presidential commentary, despite Trump's suggestions.

The S&P 500 rose by 32.07 points to close at 6,118.44, while Nasdaq and Dow Jones also saw gains. Energy stocks climbed following Trump's support for doubling U.S. energy production to meet AI demand. Meanwhile, technology stocks paused after a strong rally and various corporate earnings brought mixed results.

(With inputs from agencies.)