Talk of Tariff Cuts Prompts Stock Increases

US stocks closed with solid gains after the Wall Street Journal reported that some US officials want to reduce the Trump administration's new tariffs on Chinese imports, per the AP. Technology and industrial companies jumped Thursday. Nvidia rose 1.9% and Boeing added 2%. Health care companies also rose, with Merck gaining 1.3%. Defense contractors climbed after President Donald Trump called for a space-based missile defense system following a strategy review by the Pentagon. Northrop Grumman rose 3.3 percent. Signet Jewelers sank 24.7% after saying it had a difficult holiday season. The S&P 500 index gained 19 points, or 0.8%, to 2,635. The Dow Jones Industrial Average rose 162 points, or 0.7%, to 24,370. The Nasdaq composite gained 49 points, or 0.7%, to 7,084. (More stock market stories.)