Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 25, 2025.
Jeenah Moon | Reuters
Stocks ticked higher Thursday as the S&P 500 continued its march toward the all-time highs set earlier in the year.
The broad market index climbed 0.6%, and the Nasdaq Composite advanced 0.5%. The Dow Jones Industrial Average climbed 315 points, or, 0.7%.
The S&P 500 traded about 0.4% below its intraday record high of 6,147.43 reached in February. . It’s also near its closing all-time high of 6,144.15.
The index has jumped more than 20% since hitting a closing low in April at the peak of the U.S. tariff scare. Trade pressures have eased since then, but some on Wall Street are skeptical that the recent market momentum will carry on.
“The markets are looking forward, seeing lower interest rates, less regulation in the banking sector, a shift from austerity to stimulus in Europe, and a less biting inflation and tariff environment,” said Jamie Cox, managing partner at Harris Financial Group. “This sure isn’t the stagflation story we’ve been told to brace for.”
Elsewhere, Initial jobless claims for the week ending June 21 pulled back to 236,000, which was below the 244,000 consensus estimate. The data is indicative of a still-strong economy that seems to be holding up.
Tensions in the Middle East seemed to ease after Trump said Tuesday that a ceasefire between Israel and Iran was in effect. Though the president accused both countries of violating the agreement, saying he’s “not happy” with either of them, the deal has since appeared to hold. The U.S. is planning to meet with Iran next week.
