NEW YORK (AP) — U.S. stocks rallied to the brink of a record Thursday after more companies reported fatter profits than expected. Wall Street mostly yawned, again, at the latest announcement on tariffs by President Donald Trump, which may not take full effect for at least several weeks.
The S&P 500 climbed 1% to pull within 0.1% of its all-time high set last month. The Dow Jones Industrial Average gained 342 points, or 0.8%, and the Nasdaq composite jumped 1.5%.
MGM Resorts International leaped to one of the market’s biggest gains, 17.5%, after reporting stronger profit for the latest quarter than analysts expected. It cited growth in China and said trends are looking up for its Las Vegas and North American digital businesses.
Other companies reporting better profit than expected included GE HealthCare Technologies, which rose 8.8%, Molson Coors Beverage, which gained 9.5%, and Robinhood Markets, which jumped 14.1%.