Stocks rose Thursday as new inflation data and updates on U.S. tariff plans appeared to ease some concerns around inflationary pressures and global trade tensions.

The Dow Jones Industrial Average jumped 342.87 points, or 0.77%, to 44,711.43. The S&P 500 climbed 1.04% to 6,115.07, and the Nasdaq Composite advanced 1.50% to 19,945.64.

The Dow hit session highs after President Donald Trump signed a presidential memorandum to examine reciprocal tariffs on foreign nations, but fell short of implementing any levies after teasing major trade policy changes this week. He also suggested that additional tariffs, including on auto imports, are on the way, Reuters reported.

A jump in big-name tech stocks fueled Thursday's gains. Nvidia gained about 3.2% after Hewlett Packard Enterprise said it shipped its first solution using Nvidia's Blackwell chip. AppLovin, the best-performing U.S. tech stock last year, soared 24% on earnings. Tesla rose 5.8%.

Stocks rose on the release of the producer price index, a measure of what producers get for their goods and services, which reflected a 0.4% increase for January. That came out higher than the Dow Jones consensus estimate for 0.3%. Core PPI, which excludes food and energy, was up 0.3% for the month and in line with the forecast.

Despite the hotter number on the surface, the latest PPI report and Wednesday's consumer price index data point to a softer PCE price index than traders feared. That measure, which will be released in February, is what the Federal Reserve closely tracks.

The 10-year Treasury yield fell after the inflation data and was recently down about 10 basis points to 4.531%.

"The components that feed into PCE is, I think, where we're getting the celebration today. That's helping bring yields down a little bit as well," said Adam Turnquist, chief technical strategist at LPL Financial.

"We're watching 4.5% as the line in the sand for this upturn that's been in place since September. A break below that would be a welcome sign for equity markets," he added.

Wall Street is coming off a choppy session after data on Wednesday showed consumer prices sped up faster than expected, curbing expectations of the next rate cut out to September. Investors continue to grapple with rising global trade tensions as well.

Stocks finish higher

Stocks rallied Thursday, led by a jump in tech shares.

The Dow Jones Industrial Average jumped 342.87 points, or 0.77%, to close at 44,711.43. The S&P 500 climbed 1.04% to finish at 6,115.07, and the Nasdaq Composite advanced 1.50% to end at 19,945.64.

— Pia Singh

Casino stocks rally after MGM beats fourth-quarter estimates

Casino stocks rose in tandem on Thursday with MGM Resorts after the casino operator posted a fourth-quarter earnings and revenue beat.

MGM topped analysts' estimates on both the top and bottom lines after reporting a boost from China and optimism over demand so far this year. Shares of MGM were last trading nearly 18% higher, on pace for their best day since March 2020.

Fellow casino stocks Caesars Entertainment and Las Vegas Sands respectively added 8% and 1%. Wynn Resorts, which reports earnings after Thursday's closing bell, was last trading nearly 3% higher.

— Adrian van Hauwermeiren, Lisa Kailai Han

Defense stocks slip after Trump says defense spending could be reduced

Shares of several defense stocks slipped after President Trump said Thursday afternoon that defense spending could be halved.

Lockheed Martin and Northrop Grumman each shed more than 1% shortly after 2:30 p.m. ET, while General Dynamics lost 1.5%. Huntington Ingalls was down 0.7%.

Trump also said he will seek discussions with China and Russia on reducing military spending and denuclearization.

— Pia Singh

India index down 3% for the week

The MSCI India Index inched down around 0.2% Thursday, putting the ETF down 3.1% week to date.

The pullback comes amid Indian Prime Minister Narendra Modi's visit to Washington, D.C., where he and President Trump are expected to hold a joint press conference later on Thursday.

When signing the executive order for U.S. reciprocal tariffs on Thursday, Trump said "India has more tariffs than any other country." The U.S. recorded a $45.7 billion trade deficit with India in 2024, according to data from the Census Bureau.

— Hakyung Kim

Cybersecurity firm SailPoint begins trading

Cybersecurity firm SailPoint began trading on the Nasdaq on Thursday after going private two years ago, with the company pricing its shares for its initial public offering at $23 each.

Shares were last trading right around its IPO price at $23.03.

— Brian Evans

Arm Holdings spikes 8% on report it plans to launch own chip this year

Shares of Arm Holdings spiked nearly 8% Thursday afternoon, following a report from the Financial Times that the semiconductor designer was planning to launch its own chip this year.

Arm could unveil its first in-house produced chip as early as this summer, the article said, citing people familiar with the matter. The company has already secured Meta as one of its first potential customers.

Arm could unveil its first in-house produced chip as early as this summer, the article said, citing people familiar with the matter. The company has already secured Meta as one of its first potential customers.

Arm is currently one of the biggest players in the chip design industry. Moving toward building its own complete chip could subvert some of the biggest players in the semiconductor industry, currently valued at around $700 billion, the Financial Times reported.

— Lisa Kailai Han

Robinhood, Hanesbrands among the stocks making midday moves

Here are some stocks making big moves in midday trading:

• Robinhood — Shares of the digital trading platform jumped 11% following its stronger-than-expected fourth-quarter revenue. Robinhood reported revenue of $1.01 billion during the period, topping the consensus estimate of $944.6 million from analysts surveyed by LSEG.
• Hanesbrands — The apparel stock fell around 18% after fourth-quarter revenue missed expectations and it announced CEO Steve Bratspies will step down by the end of 2025. For the period, Hanesbrands posted $888.5 million in revenue, below the $899.2 million that analysts polled by FactSet were expecting.
• West Pharmaceutical Services — Shares plummeted nearly 34% after the company issued softer-than-expected guidance for the full year. West Pharmaceutical Services expects adjusted earnings to come in between $6 and $6.20 per share, while analysts polled by FactSet were looking for $7.45 per share. In terms of revenue for the period, the company is anticipating $2.88 billion to $2.91 billion, also below the $3.04 billion consensus estimate.

Read here for the full list.

— Sean Conlon

New ETF pairs a leveraged Tesla bet with short position on Ford

The exchange-traded fund industry has come up with yet another way for investors to bet that Tesla's stock will outperform.

Defiance ETFs announced the Battleshares TSLA vs. F ETF on Thursday, which pairs a two-times leveraged long exposure to Tesla with a short position on Ford. The fund, which uses derivatives like swaps to set these exposures, has the ticker ELON.

Defiance CEO Sylvia Jablonski said the fund was designed to look similar to how hedge funds do long-short trades.

"It's this strategy that's been in the market for a long time but we've kind of institutionalized it. So for the retail investor, even institutions that don't trade swaps and things like that, they can just by the ETF," Jablonski said.

Defiance has also filed for other Battleshares funds, including pairs such as Coinbase with Wells Fargo and Nvidia with Intel.

— Jesse Pound

MGM Resorts on pace for best day since November 2020

MGM Resorts rallied more than 14% on better-than-expected fourth-quarter revenue. The company's top line came in at $4.35 billion, beating a FactSet estimate of $4.27 billion.

"We're also encouraged by the strong demand we're seeing in the business so far in 2025, which positions us well for continued growth," CEO Bill Hornbuckle said in a statement.

The gain put the stock on pace for its biggest one-day advance since Nov. 9, 2020, when it surged 14.9%.

— Fred Imbert

Nvidia shares rise as Hewlett Packard Enterprise says it has shipped first Nvidia Blackwell system

Shares of Nvidia gained nearly 3% after Hewlett Packard Enterprise announced it has shipped its first Nvidia Grace Blackwell system, also known as NVIDIA GB200 NVL72.

The system is geared toward helping service providers and businesses with performance and efficiency by deploying "very large, complex [artificial intelligence] clusters with advanced, direct liquid cooling solutions," the company said in a statement.

It features shared-memory, low-latency architecture for artificial intelligence models that are more than a trillion parameters.

Shares of Hewlett Packard Enterprise were also higher immediately following the news, rising about 0.4%.

— Sean Conlon

Stocks open higher after inflation data

The S&P 500 opened 0.3% higher, while the Dow Jones Industrial Average jumped more than 140 points, or 0.3%, shortly after the market open. The Nasdaq Composite gained 0.5%.

— Pia Singh

Producer prices rise slightly more than expected

The producer price index, a gauge of what wholesalers pay for raw goods, rose 0.4% in January. Economists polled by Dow Jones expected producer prices to rise 0.3%. Core PPI, which excludes food and energy, increased 0.3%, slightly more than expected.

The data comes after a hotter-than-expected consumer price index report on Wednesday.

— Fred Imbert

Stocks making the biggest moves premarket Thursday

Check out the companies making headlines before the bell:

• Robinhood — The digital trading platform rallied 13% after reporting stronger-than-expected revenue for the fourth quarter. Robinhood posted $1.01 billion during the period, coming above the LSEG consensus estimate of $944.6 million.
• MGM Resorts — The resorts and casinos stock jumped nearly 10%. The company posted $4.35 billion in revenue for the fourth quarter. Analysts polled by LSEG expected a top line of $4.27 billion.
• Reddit — Shares tumbled 8% after Reddit's user numbers in the fourth quarter fell below analysts' forecasts. Daily active unique visitors averaged 101.7 million, which marked a 39% year-over-year rise but missed the StreetAccount consensus of 103.1 million. Reddit posted a top- and bottom-line beat for the fourth quarter.

The full list can be found here.

— Hakyung Kim

Bank of America downgrades Kraft Heinz

A sluggish full-year outlook and slow organic sales growth could keep shares of Kraft Heinz "lower for longer," according to Bank of America.

The firm downgraded the multinational consumer goods stock to underperform from buy on Thursday, and trimmed its price target to $36 per share from $30. BofA's forecast implies about 4% upside ahead from Wednesday's $28.62 close.

"Unlike food peers who have reset EPS expectations with their initial FY25 outlooks this earnings season (HSY, MDLZ), KHC continues to have a revenue problem," analyst Peter Galbo wrote. "If packaged food industry volumes normalize, we also see KHC as a laggard given portfolio composition," Galbo added.

— Brian Evans

Trump on Truth Social: 'Today is the big one: reciprocal tariffs'

President Donald Trump posted on Truth Social that the U.S. would impose reciprocal tariffs on goods coming from countries that have hit American products with levies.

"THREE GREAT WEEKS, PERHAPS THE BEST EVER, BUT TODAY IS THE BIG ONE: RECIPROCAL TARIFFS," he posted.

— Fred Imbert

Five stocks accounted for virtually all the Dow's loss Wednesday

Just five stocks accounted for virtually all of the 225-point loss in the Dow on Wednesday.

Caterpillar was far and away the largest contributor, with a decline of $10.19 equating to 63 points off the price-weighted Dow. Home Depot took off 57 points, United Health Group another 40, Sherwin-Williams 36 and Amazon was responsible for 24 down points.

Each dollar move in any stock in the Dow moves the average up or down 6.15 points.

— Scott Schnipper

See the stocks moving after hours

These are some of the stocks making notable postmarket moves on Wednesday:

• Reddit — The social media platform tumbled 17% after user numbers fell short of Wall Street's expectations. However, Reddit beat analysts' expectations on both lines for the fourth quarter.
• The Trade Desk — The advertising technology stock plunged 25% as fourth-quarter revenue and guidance on the line came in weaker than predicted.
• Dutch Bros — The coffee shop chain soared 19% after posting fourth-quarter earnings and same-store-sales stats that surpassed expectations. Dutch Bros also issued an upbeat revenue outlook for the full year.

See the full list here.

— Alex Harring

Dow, S&P 500 futures are little changed

Futures tied to the Dow and S&P 500 both traded up just around 0.1% shortly after 6 p.m. ET Wednesday night. Nasdaq 100 futures climbed 0.3%.

— Alex Harring