NEW YORK, New York - U.S. stocks forged higher and the U.S. dollar regained ground Thursday as investors shrugged off concerns about trade tariffs, and a jobs report indicating a dent in the conomy. Shares in Microsoft and Meta took off on better-than-expected revenue growth. 

"It's nice that the day is being carried by earnings rather than just talking about tariffs for a second, so it's a little refreshing in that regard that we're talking about economic data and earnings," Lamar Villere, Portfolio Manager with Villere & Co in New Orleans told Reuters news agency Thursday.

"Certainly when you see a company of Microsoft's size, Meta's size, putting up great earnings, you would believe that their run is not over."

Technology stocks and AI equities in particular were the main drivers behind Thursday's rally.

"Few stocks are truly immune to Trump tariffs and trade war, but AI is a lot less impacted than investors currently believe," Jed Ellerbroek, portfolio manager at Argent Capital Management told CNBC Thursday. "We're early in a very steep growth curve right now, and that goes for AI infrastructure."

U.S. Markets Power Ahead Thursday

• S&P 500 climbed 35.10 points (0.63 percent) to a fresh record close of 5,604.16, extending its recent rally.

• Nasdaq Composite outperformed with a jump of 264.40 points (1.52 percent) to 17,710.74, boosted by strong earnings from chipmakers and AI-linked stocks.

• Dow Jones Industrial Average added 83.60 points (0.21 percent) to finish at 40,752.96, marking its fifth straight day of gains.

Market Drivers

The tech-led rally on Wall Street reflected renewed investor optimism about artificial intelligence and semiconductor demand. Meanwhile, softer commodity prices oil and mining equities.

Trading volumes were robust, with over 6.9 billion shares changing hands on the Nasdaq and 3.2 billion on the S&P 500.

U.S. Dollar Strengthens Against Major Currencies Thursday as Japanese Yen Tumbles

The U.S. dollar showed broad strength in foreign exchange markets, gaining against the euro, British pound, and commodity-linked currencies, while the Japanese yen and Swiss franc faced notable declines.

Key Moves

• EUR/USD: The euro fell 0.33 percent to 1.1290, pressured by lingering concerns over the Eurozone's economic outlook.

• USD/JPY: The dollar surged 1.72 percent to 145.51 against the yen, hitting multi-year highs as the Bank of Japan maintained its ultra-loose monetary policy stance.

• GBP/USD: The British pound dropped 0.33 percent to 1.3280, weighed down by weaker-than-expected UK economic data.

• USD/CHF: The greenback rose 0.40 percent to 0.8292 against the Swiss franc, extending its recent upward trend.

Commodity Currencies Under Pressure

• AUD/USD: The Australian dollar slipped 0.27 percent to 0.6383, reflecting softer risk sentiment.

• NZD/USD: The New Zealand dollar was the worst performer, falling 0.42 percent to 0.5908 amid declining commodity prices.

• USD/CAD: The US dollar edged up 0.34 percent to 1.3843 against the Canadian dollar, supported by steady oil prices.

Market Drivers

The dollar's strength was fueled by expectations that the Federal Reserve will keep interest rates elevated for longer, while other central banks signal caution. The yen's sharp decline followed remarks from Japanese officials indicating no imminent intervention to support the currency.

Global Markets Close Mixed on Thursday; Asia-Pacific Indices Show Strength

Global stock markets delivered a mixed performance on Thursday, with gains in Europe and the Asia-Pacific region offset by slight declines in some major benchmarks.

Canada's TSX Bucks the North American Trend

The S&P/TSX Composite slipped 46.13 points (0.19 percent) to 24,795.55, weighed down by declines in energy and financial stocks.

UK and Europe

The FTSE 100 (UK) edged up slightly, closing at 8,496.80, a modest gain of 1.95 points (0.02 percent).

Germany's DAX rose 71.15 points (0.32 percent) to 22,496.98, while France's CAC 40 climbed 38.00 points (0.50 percent) to 7,593.87. 

The EURO STOXX 50 dipped slightly, losing 1.68 points (0.03 percent) to settle at 5,160.22.

The Euronext 100 Index advanced 3.76 points (0.25 percent) to 1,514.24, while Belgium's BEL 20 outperformed with a strong 1.21 percent jump, adding 53.00 points to close at 4,429.51.

Asia-Pacific and Southeast Asia

Hong Kong's Hang Seng Index gained 111.30 points (0.51 percent) to 22,119.41, and Singapore's STI Index rose 27.33 points (0.72 percent) to 3,832.51.

China's SSE Composite declined 7.62 points (0.23 percent) to 3,279.03, while Japan's Nikkei 225 rallied 406.92 points (1.13 percent) to 36,452.30, marking one of the day's strongest performances.

Australia's S&P/ASX 200 increased by 19.40 points (0.24 percent) to 8,145.60, while the broader All Ordinaries added 24.70 points (0.30 percent) to 8,365.70.

New Zealand's S&P/NZX 50 was the standout performer, surging 245.29 points (2.06 percent) to 12,148.60.

Malaysia's FTSE Bursa Malaysia KLCI also posted solid gains, rising 24.66 points (1.63 percent) to 1,540.22.

However, South Korea's KOSPI slipped 8.81 points (0.34 percent) to 2,556.61, and India's S&P BSE Sensex dipped marginally by 46.14 points (0.06 percent) to 80,242.24.

Taiwan's TWSE Index inched up 2.40 points (0.01 percent) to 20,235.03.

Middle East and Africa Markets

• Israel's TA-125 gained 8.36 points (0.33 percent) to 2,557.21.

• Egypt's EGX 30 rose 82.70 points (0.26 percent) to 32,126.20.

• South Africa's Top 40 USD Index added 6.39 points (0.13 percent) to 4,865.98.

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