Stock indexes closed higher on Thursday, with the S&P 500 up +0.55%, Dow Jones up +0.63%, and Nasdaq 100 up +0.76%. Futures also rose. The rally continued due to positive news on Greenland and strong chip maker performance. Economic data showed improvements in initial jobless claims, GDP, and personal spending.

Natural gas prices surged to a 3-year high, up over +3% due to cold weather boosting demand. President Trump refrained from imposing tariffs on European goods. Markets await economic news, Fed Chair nomination, and developments on Greenland. Earnings season started positively with 81% of S&P 500 companies beating expectations.

Supreme Court delays ruling on tariffs. Market sees 5% chance of a rate cut at next Fed meeting. Overseas markets rose, with Euro Stoxx up +1.25%, China’s Shanghai Composite up +0.14%, and Japan’s Nikkei up +1.73%. Bond yields rose in Europe. Eurozone consumer confidence improved.

Tech stocks rallied, with Arista Networks up +8%, leading S&P gainers. Datadog surged +6% on an upgrade. Northern Trust rose +5% on strong earnings. Stock losers included Abbott Labs down -10%, McCormick & Co down -8%, and General Electric down -7%. Earnings reports expected on 1/23 for Booz Allen, First Citizens BancShares, SLB Ltd, and Webster Financial Corp.

Read more at Nasdaq: Stocks Settle Higher as Global Tensions Cool and the Economy Expands