Wall Street Gains on UK-US Trade Deal Hopes

Stocks in the US market increased on Thursday after President Donald Trump declared a trade agreement with the UK which created optimism about avoiding a recession through tariffs. The S&P 500 index increased 0.6% to approach its February high point while the Dow Jones Industrial Average gained 260 points (0.6%) and the Nasdaq Composite index rose 0.8%. The UK trade agreement established by Trump included comprehensive terms yet maintained 10% basic trade restrictions. Investors maintain optimism about securing agreements with major partners including China because the country faces 145% US tariffs and upcoming negotiations. The market received positive momentum from corporate earnings reports as Axon Enterprise surged 12.5% after increasing its revenue outlook and Tapestry increased 2.7% due to strong financial performance. The stock prices of Molson Coors dropped 4.9% and Krispy Kreme experienced a 19.5% decline because the company removed its 2025 forecast because of macroeconomic uncertainty. The Federal Reserve reported positive economic growth but warned that household pessimism about tariffs might slow down the economy. The 10-year Treasury yield reached 4.32% as mixed economic indicators revealed decreased unemployment claims together with reduced worker productivity. The FTSE 100 index in London declined by 0.3% following a Bank of England interest rate reduction.