New York: US stocks ended higher Thursday as investors welcomed news that a US tariff deadline could be extended. The Dow Jones Industrial Average rose 0.94%, or 404.41 points, to close at 43,386.84. The Nasdaq Composite went up 0.97%, or 194.36 points, to end at 20,167.91, and the S and P 500 earned 0.8%, or 48.86 points, to 6,141.02.

According to Anadolu Agency, the White House indicated Thursday that US President Donald Trump might extend his deadline on reciprocal tariffs. Spokesperson Karoline Leavitt stated that the deadline is "not critical" in response to a question on whether the president is still committed to reaching trade agreements by the deadline. "Perhaps it could be extended, but that's a decision for the president to make," Leavitt added.

On the macroeconomic data side, the US economy shrank at a 0.5% annual pace from January through March, above an early estimate of a 0.2% contraction. The goods trade deficit rose 11.1% from the previous month to $96.6 billion in May, higher than market estimates. Meanwhile, new durable goods orders in the US climbed 16.4% in May, compared to the previous month, higher than forecasts, also the largest monthly gain since July 2014.