Read about the market's reaction to President Donald Trump's speech in Davos, Switzerland where he called for lower rates and cheaper oil, as well as how corporate earnings were received and other developments on Thursday.

Stocks finished higher, with the S&P 500 closing at a fresh record, amid optimism over the new administration of President Donald Trump. The S&P 500, which also posted an intraday high for the second day in a row, gained 0.53% to close at 6,118.71, outpacing its prior all-time closing high of 6,090.27 recorded in early December.