Editor’s Note: The article has been udpated to correct the Stock Movers list.

Wall Street pushed higher in midday trading, with the S&P 500 on track for its eighth consecutive gain — its longest winning streak since November 2023. The index rose about 1% to 5,560, fully recovering the losses sustained after former President Donald Trump announced trade tariffs on April 2.

Technology stocks led the rally, with the Nasdaq 100 climbing 1.5%. Strong and resilient corporate earnings continue to fuel investor appetite for risk, helping markets shrug off recent tariff concerns.

President Trump reassured investors, stating that progress on trade negotiations is going "very well" and that the timeline for the tax bill remains on schedule.

On the economic front, data continued to paint a weaker picture. After Wednesday's disappointing first-quarter GDP report, the ISM manufacturing PMI showed factory activity contracted for the second straight month in April. Meanwhile, price pressures surged at the fastest pace since June 2022, reflecting inflationary effects from tariffs.

Microsoft Corp. (NYSE:MSFT) was a standout gainer, soaring 8.60% after delivering a blowout quarter that beat expectations across the board, reinforcing its leadership in cloud and AI. The stock reached its highest level since late January.

Meta Platforms Inc. (NASDAQ:META) also topped estimates, with shares climbing more than 4%.

Sector-wise, technology outperformed, while health care lagged. Eli Lilly And Co. (NYSE:LLY) plunged over 9% after the pharmaceutical giant cut its 2025 guidance.

Crude oil erased early losses, rebounding to $58 per barrel after briefly dipping below $57. Gold slipped 2.2% to a two-week low.

The U.S. dollar strengthened to its highest level in over two weeks, bolstered by manufacturing surveys showing rising input costs tied to tariffs.

Treasury yields climbed for a second straight session, with the 10-year yield rising to 4.21%.

Bitcoin (CRYPTO: BTC) surged past the $97,000 mark, hitting its highest level in over two months.

Thursday’s Performance In Major U.S. Indices, ETFs

According to Benzinga Pro data:

• The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 1% to $560.02.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.5% to $408.25.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rose 1.6% to $483.23.
• The iShares Russell 2000 ETF (NYSE:IWM) inched 0.5% higher to $195.71.
• The Technology Select Sector SPDR Fund (NYSE:XLK) outperformed, up 2.6%; the Health Care Select Sector SPDR Fund (NYSE:XLV) lagged, down 2.3%.

Thursday’s Stock Movers

Stocks reacting to earnings reports included:
Microsoft Corporation: up 8.30%
Meta Platforms, Inc.: up 4.29%
Eli Lilly And Co (NYSE:LLY): – 9.88%
Mastercard Incorporated (NYSE:MA): -0.20%
McDonald's Corporation (NYSE:MCD): -1.24%
Linde plc (NASDAQ:LIN): -1.14%
Qualcomm Inc (NASDAQ:QCOM): -8.28%
KKR & Co. Inc. (NYSE:KKR): up 1.19%
The Southern Company (NYSE:SO): up 0.22%
Intercontinental Exchange, Inc. (NYSE:ICE): up 1.83%
KLA Corporation (NASDAQ:KLAC): -2.43%
CVS Health Corporation (NYSE:CVS): up 6.23%
Equinix, Inc. (NASDAQ:EQIX): -0.16%
Parker-Hannifin Corporation (NYSE:PH): up 0.70%
Air Products and Chemicals, Inc. (NYSE:APD): -0.09%
Howmet Aerospace Inc. (NYSE:HWM): up 7.44%
Carrier Global Corporation (NYSE:CARR): up 11%
Aflac Incorporated (NYSE:AFL): -4%
Public Storage (NYSE:PSA): -0.18%
The Allstate Corporation (NYSE:ALL): -1.27%
MetLife, Inc. (NYSE:MET): up 0.47%
W.W. Grainger, Inc. (NYSE:GWW): Up 2.14%
Becton, Dickinson and Company (NYSE:BDX): -15.73%
Quanta Services, Inc. (NYSE:PWR): up 10.10%
Exelon Corporation (NASDAQ:EXC): -0.33%
Dominion Energy, Inc. (NYSE:D): up 0.91%

Stocks slated to report earnings after the bell include Amazon.com Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL), Amgen Inc. (NASDAQ:AMGN), Arthur J. Gallagher & Co. (NYSE:AJG), Airbnb Inc. (NASDAQ:ABNB), Atlassian Corp (NASDAQ:TEAM), Motorola Solutions Inc. (NYSE:MSI), EOG Resources Inc. (NYSE:EOG), American International Group Inc. (NYSE:AIG), Consolidated Edison Inc. (NYSE:ED), Ingersoll Rand Inc. (NYSE:IR), DexCom Inc. (NASDAQ:DXCM), Monolithic Power Systems Inc. (NASDAQ:MPWR), Ameren Corp. (NYSE:AEE), GoDaddy Inc. (NYSE:GDDY), Mettler-Toledo International Inc. (NYSE:MTD), MicroStrategy Inc (NASDAQ:MSTR), Eversource Energy (NYSE:ES), Hologic Inc. (NASDAQ:HOLX), Mohawk Industries Inc. (NYSE:MHK), Camden Property Trust (NYSE:CPT) and Live Nation Entertainment Inc. (NYSE:LYV).

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