S&P 500 nears all-time high on expectations of reciprocal tariff extension

Wall Street on Thursday rallied thanks to expectations that the July deadline for reciprocal tariffs imposed by the Trump administration may be extended.

The Dow Jones Industrial Average closed up nearly one percent from the previous trading session, at 43-thousand-386-point-8-4.

The S&P 500 also rose as high as 6-thousand-146-point-5-2, coming close to breaking its all-time intraday high set back in February 29th.

The positive momentum comes amid geopolitical risks in the Middle East easing, and the White House raising the administration's prospects of extending the deadline for reciprocal tariffs.