Riskier stocks were flying on Thursday after President Donald Trump fed a few morsels on trade to a market starving for tariff deals.
The Nasdaq Composite rallied 2%. The Dow gained 652 points, or 1.6%. The S&P 500 was up 1.5% to 5718.26, approaching its 200-day moving average of about 5748.
The Invesco S&P 500 High Beta ETF, which offers exposure to the S&P’s riskiest stocks, was up 2.7%. Cryptocurrencies and meme stocks were also rallying; Bitcoin was back above $100,000 and GameStop stock was up 3.7%.