NEW YORK, NY – The Nasdaq Composite surged to a new all-time high on Thursday, powered by a robust rally in technology stocks as investors welcomed signs of flexibility in the White House’s new tariff policy. The tech-heavy index bucked a broader market downturn, closing up 0.4 percent at a record 21,242.70.
The positive momentum in the tech sector came as a direct response to President Donald Trump’s pledge to grant exemptions from a threatened 100-percent levy on semiconductors for companies that have invested, or commit to investing, heavily in the United States.
This nuance provided a significant silver lining on a day when new tariffs on dozens of countries officially took effect. While the broader Dow and S&P 500 indexes finished lower amid concerns about potential inflation, the tech industry saw a clear path forward.
“The chip tariffs certainly sound terrible on the headline,” commented Steve Sosnick of Interactive Brokers. “But there’s so many exemptions… so it’s perceived to be having so many loopholes that it’s not bad news.”
Leading the charge was Apple, whose shares climbed an impressive 3.2 percent. The gain built on a 5-percent jump from the previous day, following CEO Tim Cook’s appearance at the White House where he pledged new U.S. investments.
The optimism spread to chipmakers globally. AI giant Nvidia saw its shares rise 0.8 percent. Asian semiconductor powerhouses also rallied on the news, with Taiwan’s TSMC soaring five percent after Taipei confirmed it would be exempt. South Korean giants Samsung and SK Hynix, both of which are also making multi-billion dollar investments in the U.S., rose more than two percent and one percent, respectively.
Across the Atlantic, major European markets also showed strength. Bourses in Paris and Frankfurt closed up 1.0 percent and 1.1 percent, respectively. Asian markets had a positive session as well, with Tokyo’s Nikkei 225 and Hong Kong’s Hang Seng Index both closing up 0.7 percent.
While overall market sentiment remains cautious due to the “overhang” of the tariff issue, Thursday’s session demonstrated a strong vote of confidence in the technology sector’s resilience and its strategic importance to the U.S. economy.
Key Figures at Thursday’s Close:
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New York – Nasdaq Composite: UP 0.4 percent at 21,242.70 (close)
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New York – Dow: DOWN 0.5 percent at 43,968.64 (close)
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New York – S&P 500: DOWN 0.1 percent at 6,340.00 (close)
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Frankfurt – DAX: UP 1.1 percent at 24,192.50 (close)
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Paris – CAC 40: UP 1.0 percent at 7,709.32 (close)
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Tokyo – Nikkei 225: UP 0.7 percent at 41,059.15 (close)
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Hong Kong – Hang Seng Index: UP 0.7 percent at 25,081.63 (close)
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Pound/dollar: UP at $1.3445 from $1.3357
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Brent North Sea Crude: DOWN 0.7 percent at $66.43 per barrel
