7/7, 10:00 PM (Source: TeleTrader)
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US surges at close, Dow up almost 350 points

Major stock indexes in the United States rallied at close on Thursday, as S&P 500 ended the trading session higher for the fourth consecutive day, making this its longest winning streak since March 2022.

Federal Reserve Bank of St. Louis President James Bullard noted that the country’s economy will be expanding during this year despite rate hikes, while Fed’s Board of Governors member Christopher Waller shared that he would back a 75-basis point hike in July. On the data front, the Department of Labor revealed the number of initial jobless claims in the US rose by 4,000. Meanwhile, the country's trade deficit decreased to $85.5 billion in May.

The Dow Jones jumped 1.12% or 346 points at the closing bell, as Caterpillar surged 4.63%. At the same time, S&P 500 gained 1.50%, with ON Semiconductor shooting up 9.24%. The Nasdaq 100 soared 2.16% at the close, with Lucid skyrocketing 8.92%. The euro lost 0.18% against the dollar at 3:59 pm ET, selling for 1.01648.

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