This article first appeared on GuruFocus.
Wall Street moved higher Thursday as investors responded to developments on trade and monetary policy.
The Nasdaq Composite led gains, climbing about 1%, while the S&P 500 advanced roughly 0.6% and the Dow Jones Industrial Average edged up 0.2%.
President Trump said he does not plan to remove Federal Reserve Chair Jerome Powell, calming investor concerns
Technology stocks were the strongest performers, with Information Technology driving much of the upside. Energy lagged after oil futures fell about 4%, reflecting concerns over slowing demand.
U.S. Treasury yields rose slightly. The two-year yield increased three basis points to 3.55%, while the 10-year yield ticked up to 4.14%, as investors reduced bond holdings.
Economic data added to a cautiously positive market mood. Initial jobless claims fell to 198,000 for the week ended Jan. 10, below expectations of 215,000. The Empire State Manufacturing Index rose to 7.7, above the 1.0 consensus, suggesting stronger activity in New York factories.
Analysts said trade policy signals and steady economic indicators may keep equities supported, even as uncertainty around energy and interest rates persists.