US STOCKS-Wall Street ends up as investors buoyed by tariff relief, upbeat data
22/01/2026 21:00
Second day of gains after Trump's Greenland tariff u-turn Procter & Gamble gains after earnings Abbott, GE Aerospace fall after reporting latest results U.S. November PCE rises 2.8% vs est. 2.7% Updates to close By David French Jan 22 (Reuters) - Wall Street's main indexes ended higher on Thursday, the second straight day of gains, as investors bought shares after U.S. President Donald Trump rescinded tariff threats on European allies while data highlighted American economic resilience. The advance came the day after the S&P 500's .SPX biggest daily percentage gain in two months, when Trump stepped back from imposing tariffs as leverage to seize Greenland and said the framework of a deal to end a dispute over the Danish territory was in sight. Investors have quickly returned to stock markets after Trump's Wednesday U-turn. Still, two days of gains have yet to fully erase losses the three U.S. benchmarks took on Tuesday, when Trump's tariff threats sent shivers through global markets. "It's very weird to wake up every day as a money manager and you do not know whether it is Christmas morning or Friday the 13th," said Gregg Abella, CEO at Investment Partners Asset Management. Abella said geopolitical issues are creating additional focus on managing client portfolios through volatility, and emphasizing the importance of diversification away from certain names, sectors and asset classes. Reflecting such diversity, and increased risk appetite among investors on Thursday, the small-cap Russell 2000 index .RUT rose to a record closing high. According to preliminary data, the S&P 500 .SPX gained 36.51 points, or 0.53%, to end at 6,913.40 points, while the Nasdaq Composite .IXIC gained 205.31 points, or 0.91%, to 23,430.13. The Dow Jones Industrial Average .DJI rose 298.01 points, or 0.61%, to 49,375.24. EARNINGS A PROVING GROUND The earnings season is picking up pace, and could test market sentiment as companies detail how consumer demand, cost pressures and a bumpy macro backdrop shaped their year-end performance. Many of the so-called Magnificent Seven stocks are set to report earnings next week. Given their weighting on indexes, their performances have outsized influence on overall market direction. Their outlooks will be closely watched to see how much juice remains in the growth stories which so far have justified their sky-high valuations. All seven were gainers on Thursday, led by Meta META.O and TeslaRecent news on Huntington Bancshares
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