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U.S. stocks booked big gains on Thursday after President Trump's awaited trade-war update included no deadline or concrete specifics on how "reciprocal tariffs" might be applied.
The Dow Jones closed about 342 points higher, or 0.8%, ending near 44,711, according to preliminary data. That was its best daily percentage gain since Jan. 23, according to FactSet.
The S&P 500 gained about 63 points, or 1%, ending around 6,115. That was slightly below its closing high at 6,118.71, set on Jan. 23, 2025.
The Nasdaq Composite rose about 295 points, or 1.5%, finishing around 19,945.
Motiva’s expansion comes alongside the closure of two other refineries: LyondellBasell Industries NV’s Houston plant and Phillips 66’s Los Angeles facility, both set to shutter this year.
Motiva ran more than 600,000 barrels of oil a day on average last year and 651,000 barrels a day in December, according to data from the Railroad Commission of Texas. By contrast, Marathon’s Galveston Bay and Exxon’s Beaumont plants, both in Texas, averaged 551,000 and 583,000 barrels per day in 2024.
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