US stocks close higher; Trump's tariff remarks affect dollar, 10-year treasuries

By Gokhan Ergocun

ISTANBUL (AA) - US stock markets closed with gains Thursday.

President Donald Trump said he will announce tariffs on Canada and Mexico on Saturday, adding the US is also considering preparing tariffs against China.

Following Trump's statements, the dollar index rose to 108.2, while the US 10-year treasury bond yield fell to 4.52%.

On the macroeconomic data side, the US economy grew by 2.3% in the fourth quarter of 2024, below expectations.

The number of people applying for unemployment benefits for the first time in the country decreased by 16,000 people to 207,000 last week.

Pending home sales in the US also decreased by 5.5% in December, contrary to expectations that they would remain flat.

The Dow Jones Industrial Average rose 0.38%, or 168.61 points, to end the day at 44,882.13.

The S&P 500 inched up 0.53%, or 31.86 points, to 6,071.17, while the Nasdaq Composite climbed 0.25%, or 49.43 points, to 19,681.75.