By US stocks rose on Thursday following President Donald Trump’s announcement of a trade agreement between the United States and the United Kingdom.
The Dow Jones Industrial Average added 228 points, or 0.6%, while the S&P 500 rose 0.7% and the Nasdaq Composite climbed 1%.
The gains followed a choppy session on Wall Street, where investors weighed the Federal Reserve’s latest policy decision and watched for updates on trade developments amid concerns that escalating trade tensions could fuel inflation.
Technology stocks moved higher after reports emerged that the Trump administration plans to roll back Biden-era restrictions on artificial intelligence chips that were set to take effect later this month.
Nvidia edged up around 0.5%, while Intel gained 3.3%. AMD also rose over 3%. Among the megacaps, Meta Platforms and Amazon advanced more than 1% each, and Tesla jumped more than 3%.
UK-US trade deal
Britain is poised to become the first country to finalize a trade agreement with the United States following Washington’s imposition of broad “reciprocal” tariffs in April.
A news conference is scheduled for 10:00 a.m. ET (3 p.m. London time), Thursday at the Oval Office.
In a statement on Truth Social, US President Donald Trump said:
“The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come.”
He added, “Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement. Many other deals, which are in serious stages of negotiation, to follow!”
Britain, running a trade deficit with the US, was exempt from the steeper tariff rates under the “Liberation Day” framework, though it remains subject to a baseline 10% levy as well as existing US duties of 25% on steel, aluminum, and vehicles — areas expected to be central to the deal.
EU to take on Trump tariffs
The European Commission on Thursday announced it will initiate a dispute at the World Trade Organization over the United States’ “reciprocal” tariffs, particularly those targeting cars and car parts.
Alongside this move, the Commission opened a public consultation on possible countermeasures against a wide range of U.S. imports, valued at €95 billion ($107.4 billion), should negotiations with Washington fail. The proposed list includes industrial and agricultural goods, such as poultry, grains, and metals.
“It is the unequivocal view of the EU that these [U.S.] tariffs blatantly violate fundamental WTO rules,” the Commission said, adding that the bloc aims to uphold the integrity of international trade rules and challenge any unilateral actions by WTO members.
The WTO process will begin with a formal request for consultations.
The post US stocks open higher: Dow climbs 220 points, Nasdaq jumps 1% appeared first on Invezz
