Wall Street's gains accelerated into Thursday's close, as traders shrugged off the latest inflation report and President Donald Trump's newest tariff update. Trump signed a presidential memorandum to explore reciprocal tariffs on foreign nations, but stopped short of imposing any levies despite hinting at major trade policy changes earlier in the week.

In response, the Dow climbed 342 points -- its best single-session gain since Jan. 23 -- while the S&P 500 settled at its highest mark since Jan. 15. The Nasdaq added triple digits as well, with all three major indexes now a chip shot from record highs. Amid a resilient market, the Cboe Volatility Index (VIX) logged its sixth loss in eight sessions and its lowest close in three weeks.

OIL PRICES FALL, GOLD PRICES RISE

Oil futures notched a second consecutive loss, after Trump and Russian President Vladimir Putin agreed to talk about an end to the war in Ukraine. March-dated West Texas Intermediate (WTI) crude shed 8 cents, or 0.1%, to settle at $71.29 per barrel.

Gold prices rose Thursday on Trump's reciprocal tariffs. The contract for February delivery last seen trading 0.6% higher at $2,945.40 an ounce.

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