NEW YORK (AP) 鈥� U.S. stocks rose to their first all-time high of 2025 as Wall Street regained a bit of the momentum that catapulted it to 57 records last year. The S&P 500 rose 0.5% Thursday amid relatively quiet trading and surpassed the record it set early last month. The Dow Jones Industrial Average added 0.9%, and the Nasdaq composite edged up 0.2%. Movements were mostly quiet in stock markets abroad, even after China鈥檚 latest attempt to juice stock prices in the world鈥檚 second-largest economy. Treasury yields were mixed in the bond market, helping to keep stock trading relatively calm.
THIS IS A BREAKING NEWS UPDATE. AP鈥檚 earlier story follows below.
NEW YORK (AP) 鈥� U.S. stocks are drifting toward a record on Thursday amid a relatively quiet day on Wall Street.
The S&P 500 was 0.2% higher in late trading and on track to surpass its after The Dow Jones Industrial Average was up 331 points, or 0.7%, and the Nasdaq composite was edging 0.2% lower with an hour remaining in trading.
The calm trading came amid relatively modest moves for Treasury yields in the U.S. bond market. Big swings there in recent months have been , particularly when rising worries about and the U.S. government鈥檚 heavy debt have sent .
Treasury yields took a brief turn higher after President Donald about the prospect of tariffs at the World Economic Forum, saying products made outside of the United States will be subject to a tariff, but they pulled back after he gave few details. Crude prices also sank after Trump called on oil-producing countries to reduce the price of crude, reducing worries about inflation.
The yield on the 10-year Treasury climbed to 4.64% from 4.61% late Wednesday, though it remains below its high from earlier this month. The two-year Treasury yield eased to 4.28% from 4.30% late Wednesday.
Yields earlier in the day had also held relatively steady after a report showed slightly benefits last week than economists expected. While the numbers were an increase, 鈥渢hey were well within the modest range established in recent months,鈥� according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley. 鈥淓mployment continues to highlight US economic outperformance.鈥�
Traders don鈥檛 expect the report to push the Federal Reserve to cut its main interest rate at its upcoming meeting next week, according to . If they鈥檙e correct, it would be the first time the Fed hasn鈥檛 lowered the federal funds rate since it began doing so in September to ease pressure off the U.S. economy. Lower rates can goose prices for investments, but they can also give inflation more fuel.
On Wall Street, GE Aerospace flew 6.7% higher after reporting stronger profit for the latest quarter than analysts expected. The company, which split off from General Electric with two other companies last year, said orders for its airplane engines and services jumped 50% from a year earlier to $12.9 billion.
Netflix was another one of the strongest forces lifting the S&P 500. It rose another 2.6% after jumping 9.7% the day before following a .
Union Pacific chugged 5% higher after for profit in the latest quarter. The railroad said its workforce was more productive during the quarter, and its fuel consumption rate likewise improved.
American Airlines lost 9.7% even though it reported stronger profit and revenue for the latest quarter than analysts expected. It said it may report a bigger loss for the first three months of 2025 than analysts expected. American also gave a forecasted range for profit over the full year whose midpoint fell short of analysts鈥� expectations.
Video game maker Electronic Arts dropped 17.6% after it warned of a slowdown in revenue related to its soccer game, EA Sports FC25. It also said fewer gamers played its Dragon Age game during the latest quarter than it expected, further cutting into its revenue.
In stock markets abroad, movements were mostly quiet, even after in the world鈥檚 second-largest economy. Stocks in Hong Kong got a brief boost from China鈥檚 ordering of pensions and mutual funds to invest more in domestic stocks, for example, but the Hang Seng index ended with a dip of 0.4%.
Japan鈥檚 Nikkei 225 gained 0.8% despite a sharp drop for Holdings after Masahiro Nakai, a top TV host and former pop star, said he was retiring to take responsibility over sexual assault allegations that are part of a wave roiling Japan鈥檚 entertainment industry. The Fuji TV scandal triggered an avalanche of lost advertising where he worked.
In the cryptocurrency market, where prices have surged on hopes President Donald Trump will make Washington friendlier to the industry, bitcoin was sitting a below $104,000, according to CoinDesk. It had set a on Monday.
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AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
Stan Choe, The Associated Press
