U.S. markets finished mostly higher on Thursday while showing overall strength for a fifth-straight session. The late session rally held despite the signing of the declaration of a 25% tariff on imported steel and a 10% tariff on imported aluminum. The market took it as a good sign as Canada and Mexico are being exempt, for now from the tariffs, while NAFTA negotiations are ongoing.
The S&P 500 gained 0.5% after testing a high of 2,740 while closing less than a point below its 50-day moving average. The Dow was up 0.4%, after trading to a high of 24,950 with near-term resistance at 25,000 holding.
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