Stocks Climb, but Signs of Nervousness Remain

The US stock market rose again on Thursday and regaining more of its losses for the week following the latest walkback by President Trump from tariffs he had earlier threatened.

• The S&P 500 rose 37.73 points, or 0.5%, to 6,913.35.
• The Dow Jones Industrial Average climbed 306.78 points, or 0.6%, to 49,384.01.
• The Nasdaq composite gained rose 211.20, or 0.9%, to 23,436.02.

Stocks added to their gains from Wednesday, when Trump said he had reached "the framework of a future deal with respect to Greenland" and called off 10% tariffs on European countries that he said opposed his having the Arctic island, the AP reports.

It's the latest example of Trump making a big, initial threat, only to pull back after seeing how much pain it created in financial markets. Tuesday's drop for the US stock market was the worst since October and large enough that Trump, who often takes credit when Wall Street is doing well, acknowledged "the dip." Financial markets were still showing some signals of nervousness on Thursday. Gold's price swiveled between small losses and gains before turning 1.7% higher. Its price often rises when investors are looking for something safer to own. The value of the US dollar also slipped against the euro and several other foreign currencies, though the slide wasn't as sharp as earlier in the week.

On Wall Street, Northern Trust climbed 6% after reporting a stronger profit for the end of 2025 than analysts expected. Procter & Gamble added 2.6% after likewise delivering a better profit than analysts expected. Revenue for the company behind the Downy, Pantene, and Tide brands, though, fell just shy of expectations amid what CEO Shailesh Jejurikar called a "challenging consumer and geopolitical environment." Another winner was Generac, which sells power generators. It rose 1.9% as forecasters warned a potentially catastrophic ice storm may hit a large swath of the US.

• They helped offset a 8.1% drop for spice seller McCormick & Co., whose profit fell short of expectations. CEO Brendan Foley said it continues to face rising costs because of "a shifting global trade environment."
• Shares of BitGo, a company that helps crypto businesses and traditional financial firms hold and manage digital assets, jumped 17.2% in its debut on the New York Stock Exchange. The company priced its stock at $18 per share in its initial public offering, above its earlier estimated range of $15 to $17.

Treasury yields held relatively steady in the bond market following encouraging reports on the US economy's strength. One said that fewer US workers applied for unemployment benefits last week than economists expected in a potential signal that the pace of layoffs remains low. A second suggested the US economy grew at a faster rate during the summer than the government initially estimated. A third said that inflation in November was close to economists' expectations, while spending by US consumers was a touch better than expected. Consumer prices rose 2.8% in November from a year earlier, the Commerce Department said Thursday, up from a 2.7% annual pace in October.