WASHINGTON (dpa-AFX) - Following the upward move seen over the course of the previous session, the major U.S stock indexes are turning in a mixed performance during trading on Thursday.
While the Dow and the S&P 500 are seeing further upside, the tech-heavy Nasdaq is giving back ground after ending the previous session at a record closing high.
Currently, the Nasdaq is down 18.15 points or 0.1 percent at 20,593.19, but the S&P 500 is up 13.82 points or 0.2 percent at 6,277.08 and the Dow is up 257.39 points or 0.6 percent at 44,715.69.
The mixed performance on Wall Street comes amid uncertainty about President Donald Trump's trade policies, as he continues to threaten higher tariffs on various sectors and countries.
In a Truth Social post Wednesday evening, Trump announced a 50 percent tariff on copper is due to go into effect on August 1st.
Trump also posted several more letters to world leaders on Truth Social revealing plans to increase tariffs.
Trump posted letters sent to the leaders of the Philippines, Brunei, Moldova, Algeria, Iraq, Libya and Sri Lanka after posting letters sent to the leaders of 14 other leaders earlier in the week.
'Trump is throwing out numbers left, right and centre, and investors have begun to dismiss anything that isn't set in stone,' said Dan Coatsworth, investment analyst at AJ Bell.
'So many of Trump's decisions have either been rolled back, forgotten about, or kicked down the road,' he added. 'For investors, that means a shift in focus back to economic data and corporate news flow as key drivers for markets.'
Sector News
Airline stocks have shown a substantial move to the upside on the day, with the NYSE Arca Airline Index soaring by 7.9 percent to its best intraday level in four months.
Delta Air Lines (DAL) has led the sector higher, spiking by 12.5 percent after reporting better than expected earnings for the June quarter and reinstating its full-year profit outlook.
Significant strength is also visible among steel stocks, as reflected by the 2.7 percent jump by the NYSE Arca Steel Index.
Housing, pharmaceutical and biotechnology stocks are also seeing notable strength, while software and networking stocks have moved to the downside.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Thursday. Japan's Nikkei 225 Index fell by 0.4 percent, while China's Shanghai Composite Index climbed by 0.5 percent.
The major European markets have also turned mixed on the day. While the German DAX Index is down by 0.4 percent, the French CAC 40 Index is up by 0.3 percent and the U.K.'s FTSE 100 Index is up by 1.2 percent.
In the bond market, treasuries have moved back to the downside following the rebound seen on Wednesday. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 2.6 basis points at 4.368 percent.
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