US stock market rallied for a second straight day: Why the Dow, S&P 500, and Nasdaq are climbing toward record highs as Greenland tensions ease and key inflation data looms

U.S. stock market pushed higher for a second consecutive day as investors reacted to easing geopolitical tensions tied to Greenland, firm leadership from mega-cap technology stocks, and cautious optimism ahead of a critical inflation report. Major indexes closed solidly in the green, reinforcing the sense that Wall Street is attempting to regain momentum after recent volatility driven by political risk and interest-rate uncertainty.

The Dow Jones Industrial Average climbed 245.66 points, or 0.50%, to 49,322.89, while the S&P 500 added 24.44 points, or 0.36%, ending at 6,900.06. The tech-heavy Nasdaq Composite led gains, rising 132.41 points, or 0.57%, to 23,357.23. The advance marked the second day of broad-based buying across equities, following sharp swings earlier in the week.

Markets were already higher after comments from Donald Trump at the World Economic Forum in Davos, where he said the United States would not pursue control of Greenland by force. Later, Trump added fuel to the rally by stating on Truth Social that he and Mark Rutte had “formed the framework of a future deal with respect to Greenland.” He later told CNBC that the administration has “a concept of a deal.”


Investors interpreted the remarks as a sign of de-escalation after weeks of uncertainty that had weighed on global risk sentiment. The result was a relief rally that lifted stocks across sectors, particularly in areas sensitive to geopolitical stability and global trade.

Dow, S&P 500, and Nasdaq climb

Dow Jones Industrial Average surged 245.66 points, or 0.50%, to close at 49,322.89. This upward momentum was mirrored across the broader market, with the S&P 500 Index climbing 0.36% to hit 6,900.06, while the tech-centric NASDAQ Composite gained 0.57% to finish at 23,357.23. Small-cap stocks led the charge, as the Russell 2000 index jumped approximately 2% to achieve a fresh record close.

Beyond politics, investors also welcomed stability in interest-rate expectations. Treasury yields held relatively steady, allowing equities to focus on earnings trends and macro data rather than abrupt rate repricing. Technology shares once again provided leadership, supported by continued strength in artificial intelligence–linked names.

Hot stocks dominate trading volumes as risk appetite returns

Trading activity was especially intense in individual stocks, with speculative and momentum-driven names drawing heavy volumes. 60 Degrees Pharmaceuticals surged more than 250% in a single session, making it one of the most actively traded stocks on U.S. exchanges. iOThree Limited also more than doubled, reflecting renewed appetite for high-risk, high-reward plays.

Large-cap technology stocks remained firm. NVIDIA gained nearly 1%, extending its longer-term uptrend as investors continue to bet on sustained AI spending. Intel slipped modestly, but remained near the top of its recent trading range, suggesting that investors are selectively rotating rather than exiting the sector entirely.

Energy transition and infrastructure-related names also saw renewed interest. Plug Power climbed more than 6%, while robotics and automation plays attracted steady inflows. The breadth of gains suggested that the rally was not limited to a single theme, but instead reflected a broader improvement in market confidence.

Top stock gainers today

60 Degrees Pharmaceuticals, Inc. (SXTP)
Shares of 60 Degrees Pharmaceuticals soared 281% to $7.62, making it the biggest gainer of the session. Trading volume jumped to 136 million shares, far above normal levels, signaling intense speculative interest. The stock remains highly volatile, with a wide 52-week range between $1.36 and $24.00.

iOThree Limited (IOTR)
iOThree surged 86.69% to $5.47 as volume crossed 44 million shares. The sharp move pushed the stock closer to the upper end of its $2.24–$59.80 yearly range, reflecting renewed momentum trading in low-float tech names.

Creative Media & Community Trust Corporation (CMCT)
CMCT jumped 73.92% to $5.10 on heavy activity of 33 million shares. The rally marked one of the strongest sessions for the stock this year, as investors rotated into beaten-down real estate-linked plays amid improving market sentiment.

Plug Power Inc. (PLUG)
Plug Power gained 9.68% to $2.44, extending its recent rebound. Nearly 29 million shares traded hands as investors showed renewed interest in clean-energy names following broader risk-on moves across equities.

NVIDIA Corporation (NVDA)
NVIDIA rose 0.89% to $184.95, supported by strong and consistent volume of 24 million shares. While the percentage gain was modest, the stock continues to anchor the market’s technology leadership near the upper end of its $86.62–$212.19 52-week range.

ImmunityBio Inc. (IBRX)
ImmunityBio advanced 10.69% to $7.66, with 23 million shares traded. The stock remains near its annual highs, reflecting sustained investor focus on biotech momentum plays.

Ondas Inc. (ONDS)
Ondas climbed 1.95% to $12.79 on 19 million shares of volume. The stock continues to trend near its recent highs, supported by steady speculative interest.

Erayak Power Solution Group Incorporation (RAYA)
RAYA jumped 17.71% to $2.83, with trading volume reaching 13 million shares. Despite the daily surge, the stock still sits far below its extreme 52-week high of $737, highlighting its high-risk profile.

Petroleo Brasileiro SA (PBR)
Petrobras shares gained 2.15% to $13.80, backed by 12 million shares in volume. The move reflected strength in global energy stocks as oil prices stabilized and investor confidence improved.

Commodities send mixed signals as metals stay volatile

Commodity markets painted a more nuanced picture of global sentiment. Gold edged higher to around $4,847, up 0.20%, as investors maintained some demand for hedges despite the equity rally. Silver outperformed, jumping more than 1.7%, while platinum gained close to 1%, supported by industrial demand expectations.

By contrast, copper slipped slightly, reflecting lingering concerns about global manufacturing growth and Chinese demand. The divergence across metals underscored the market’s current push and pull between optimism over easing political tensions and caution ahead of key economic data.

Inflation data and Fed outlook remain the next big test

Despite the upbeat tone, investors remain wary that the rally could face a near-term test. Attention now turns to the release of the personal consumption expenditures (PCE) price index, the inflation gauge most closely watched by the Federal Reserve. The report is expected to provide fresh insight into how consumer prices are evolving and whether inflation is cooling enough to justify future rate cuts.

A softer-than-expected PCE reading could reinforce the recent market gains and strengthen the case for policy easing later this year. On the other hand, a hotter print could reignite volatility and pressure interest-rate-sensitive sectors.

Geopolitics also remain unresolved. Danish Prime Minister Mette Frederiksen described Trump’s discussions with NATO as “good and natural,” and confirmed Denmark’s willingness to engage in talks on Arctic security, including the U.S. “Golden Dome” missile defense concept. However, she emphasized that Danish sovereignty over Greenland is “non-negotiable,” signaling that negotiations may still face limits.