Stocks Rise to the Brink of All-Time High

US stocks ran up to the edge of another record on Thursday.

• The S&P 500 rose 48.86 points, or 0.8%, to 6,141.02, just 0.05% below its all-time closing high, which was set in February.
• The Dow Jones Industrial Average rose 404.41 points, or 0.9%, to 43,386.84.
• The Nasdaq composite rose 194.36 points, or 1%, to 20,167.91.

McCormick helped lead the market. The seller of cooking spices delivered a better-than-expected profit report and rose 5.3%, the AP reports. Treasury yields eased in the bond market following a couple of better-than-expected reports on the US economy, including on jobless claims and orders for long-lasting manufactured goods.

Chip company Nvidia added 0.5%. It's the most valuable company in the US stock market after rushing nearly 62% higher since the market hit a bottom on April 8, towering over the S&P 500's gain of 23%. Another AI darling, Super Micro Computer, rose 5.7% to bring its gain since April 8 to more than 50%. Micron Technology, which sells computer memory and data storage, fell 1% despite reporting stronger profit and revenue for the latest quarter than analysts expected. CEO Sanjay Mehrotra said it's seeing AI-driven memory demand, and the company gave a forecast for profit in the current quarter that topped analysts' expectations.

Wall Street's worries about Trump's tariffs have receded since the president shocked the world in April with stiff proposed levies, but they have not disappeared. The wait is still on to see how big the tariffs will ultimately be, how much they will hurt the economy and how much they will push up inflation. The economy so far seems to be holding up OK, though slowing, and more reports arrived on Thursday bolstering that. One said that orders for washing machines and other manufactured goods that last at least three years grew by more last month than economists expected. A second said fewer US workers filed for unemployment benefits last week, a potential signal of fewer layoffs.

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A third report said the US economy shrank by more during the first three months of 2025 than earlier estimated. But many economists say those numbers were distorted by how many US companies rushed early this year to buy foreign products ahead of tariffs, and they're expecting a better performance in upcoming months.