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US stocks advanced on Thursday after Federal Reserve Governor Christopher Waller indicated he could support keeping interest rates unchanged this month if incoming economic data confirms that inflationary pressures are continuing to ease. Investor sentiment also received support from a decline in US Treasury yields after government figures showed that the country’s trade deficit widened in July. However, the outlook for interest rates remains complicated by the ongoing conflict in the Middle East. A prolonged escalation could add to inflationary pressures, particularly through higher energy prices. Brent crude futures gained 0.49% on Thursday, extending their winning streak to four consecutive sessions. As of 10:01 a.m. Eastern Time, the S&P 500 was up 0.5%. The Dow Jones Industrial Average added 0.6%, and the Nasdaq Composite rose 0.7%. At 09:34 a.m. ET, the Dow Jones Industrial Average rose 394.74 points, or 0.74%, to 53,456.69, the S&P 500 gained 41.29 points, or 0.54%, to 7,707.89 and the Nasdaq Composite gained 160.20 points, or 0.61%, to 26,378.03. Government data showed that the US trade deficit expanded in July to its highest level since March 2025. Imports increased during the month, with demand partly supported by the rapid expansion of artificial intelligence infrastructure and technology-related investment. Waller's comments have therefore drawn attention because any indication that inflation is moving sustainably lower could give the Fed greater flexibility in deciding whether further rate adjustments are necessary. "My decision on the appropriate stance of policy will be heavily influenced by what we learn about August inflation," Waller said in remarks at a Reuters NEXT Newsmaker event in Washington. "If there is continued progress toward our 2% goal, then I am willing to support holding the policy rate at its current level," Waller said. The yield on the 10-year Treasury dropped to 4.75% from 4.79% on Wednesday. The yield on the 2-year Treasury slid to 4.32% from 4.39%. Among individual stocks, Nvidia gained 1.7% after the chipmaker announced plans to acquire artificial intelligence platform Hugging Face for $12.9 billion. Broadcom shares declined 5.26% after the semiconductor and technology company issued a fourth-quarter revenue forecast that fell below Wall Street's elevated expectations. Snowflake emerged as one of the biggest gainers, with its shares jumping 25.17% after the cloud data company issued a strong annual revenue forecast. Gold prices surged on Thursday, as traders trimmed rate hike expectations after Waller's remarks. By 10:36 a.m. ET (1436 GMT), spot gold rose 2% to $4,472.94 per ounce. US gold futures for December delivery rose 2.3% to $4,517.40 per ounce. Among other metals, spot silver gained 1.7% to $66.41, platinum rose 2% to $1,795.67, and palladium climbed 2.6% to $1,380.66. With a distinguished career spanning nearly two decades at the highest levels of financial journalism, Rajendra Kumar Saxena stands as a cornerstone of the editorial leadership team at Livemint.com. In his current capacity as Content Editor, he is responsible for managing the comprehensive editorial lifecycle of the publication. His role is multifaceted, encompassing the strategic selection of high-impact stories, original reporting, and meticulous editing. <br> Furthermore, Rajendra is instrumental in executing a sophisticated Search Engine Optimization (SEO)-driven content strategy, ensuring that the platform's digital content reaches a global audience while maintaining the highest standards of journalistic integrity and accuracy prior to publication. <br> Rajendra’s professional journey is characterized by a profound expertise in a wide array of critical sectors. His analytical depth covers global economics, commodities, and stock market dynamics (across both Indian and United States landscapes). <br> Beyond the financial markets, he possesses a keen understanding of political affairs, banking and finance, foreign affairs, and the rapidly evolving technology sector. <br> His eighteen years journey in financial and business journalism includes a significant tenure at Financialexpress.com and freelance contributions to The Hindu. <br> Currently based in Delhi, Rajendra holds a Master of Journalism degree from the prestigious Makhanlal Chaturvedi National University of Journalism and Communication (MCNUJC). His blend of academic rigor and decades of on-the-ground experience makes him a leading voice in navigating the complexities of today’s financial world. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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