The S&P 500 was on track to exit correction territory as the final hour of trading approached on Thursday.
The market benchmark was up 2% to 5482.56, a hair above the 5481.05 level it needs to close above to mark a 10% move from a recent low. That would put the index back out of correction after it fell 10% from its Feb. 19 high in March.
Roughly 418 S&P 500 stocks were on the rise, but the index’s tech sector was the top performer with a 3.7% gain.
The index fell sharply from its Feb. 19 record high as Wall Street digested the president’s plans for steep tariffs around the globe. The index briefly was on track to enter a bear market—a 20% drop from a recent high—earlier this month but rallied as the White House delayed tariffs on the bulk of the U.S.’s trading partners. Now, Wall Street wants to see some deals to ease the burden on U.S. firms that import goods, especially from China.
