US stocks surged on Thursday, with the S&P 500 and Nasdaq 100 topping their previous session's record closes, driven by easing geopolitical tensions, strong tech performance, and rising hopes for interest rate cuts. The S&P 500 rose 0.8%, while the Nasdaq added 1% and the Dow advanced 390 points. Optimism grew after the White House downplayed upcoming tariff deadlines, calming investor concerns about a trade war. At the same time, talk of President Trump naming a new Fed chair earlier than expected fueled speculation about a shift toward looser monetary policy. Meanwhile, fresh economic data showed the US economy contracted more than anticipated in Q1 by an annualized 0.5% and the goods deficit unexpectedly widened due to lower exports. Most tech giants such as Nvidia and Meta led the gains, continuing their strong upward momentum, while Apple bucked the trend, slipping 0.4% following a price target downgrade by JPMorgan Chase.