Stocks closed solidly higher on Thursday for the fourth straight session as investor optimism about the Trump administration continues to run high.

Dow Jones futures rose Thursday after higher-than-expected initial unemployment claims. Nvidia stock sold off, while Tesla reversed higher.

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining around 250 points on Thursday. The Dow traded up 0.58% to 44,412.35 while the NASDAQ fell 0.30% to 19,949.51. The S&P 500 also rose, gaining, 0.09% to 6,091.83.

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Stocks took a step up after Trump said in a virtual address to the World Economic Forum that he would “demand that interest rates drop immediately.”

The broad based index finished the trading day up over 0.5%, securing its first all-time closing high of 2025. The Dow Jones Industrial Average ( ^DJI) popped around 0.9%, but was unable to secure its own record, while the Nasdaq Composite ( ^IXIC) recovered from earlier losses to close up about 0.2%.

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During his speech in World Economic Forum at Davos, Trump urged companies to manufacture their products in the US and vowed to offer tax relief or else face tariffs. In his speech, Trump also revealed his plan to lower interest rates and ask OPEC to lower oil prices.

Alaska Air Group ( ALK) shares climbed when the airline also topped profit and sales forecasts after it completed its acquisition of Hawaiian Airlines. While Alaska Air advanced, shares of American Airlines ( AAL) plunged as the carrier predicted its first-quarter loss would be more than expected and warned of higher costs.

US stocks were mixed with the S&P 500 (^GSPC) trading near record levels on Thursday as investors stayed attuned to remarks from President Donald Trump, who addressed the World Economic Forum in Davos.

Elevance Health led the insurance sector higher after it beat Wall Street’s sales and profit targets and raised its dividend. Elevance rose 5.5% before the bell, followed by Cigna, which rose 3.8% and UnitedHealth Group which gained 1.6%. CVS Health inched up 1.3%.