Tech Stocks Surge Amid Easing U.S.-China Trade Tensions

U.S. stocks rallied, fueled by gains in technology shares. Investors reacted to mixed corporate earnings and U.S.-China trade developments. The Nasdaq gained from ServiceNow's strong profits, while easing tariff rhetoric helped overall market sentiment. Despite uncertainty, notable companies like Procter & Gamble and Pepsi withdrew forecasts amid economic resilience signals.

U.S. stocks saw a positive close on Thursday, bolstered by a significant uptick in technology shares. This rally comes as investors evaluate a mix of corporate earnings and observe potential progress in U.S.-China trade negotiations.

The major indices all climbed, with the Nasdaq benefiting prominently from the surge in AI-powered software company ServiceNow's stock following better-than-anticipated quarterly results. Meanwhile, Beijing's call for tariff reductions on Chinese imports, coupled with optimistic signals from U.S. Treasury Secretary Scott Bessent about softening trade tensions, contributed to market gains.

The favorable U.S.-China trade rhetoric positively impacted technology stocks, as noted by Paul Nolte, senior market strategist at Murphy & Sylvest. Alongside, first-quarter earnings reports, including mixed projections from Procter & Gamble, PepsiCo, and American Airlines, reflect the market's response to ongoing trade uncertainties.

(With inputs from agencies.)