(Updates with preliminary closing prices)

By Sinéad Carew and Johann M Cherian

Jan 23 (Reuters) - The benchmark S&P 500 rose to a

record closing high on Thursday, as investors assessed a mixed

bag of corporate earnings and digested comments from President

Donald Trump, including a call for cuts in interest rates and

oil prices.

At the World Economic Forum in Davos, Switzerland, Trump

demanded that OPEC lower oil prices and that central banks

reduce interest rates, while he warned global business leaders

they will face tariffs for products made outside of the U.S.

While investors have been cautiously monitoring Trump's

comments about tariffs, they "like the idea of interest rates

coming down, of oil prices coming down," said Lindsey Bell,

chief strategist at 248 Ventures.

"All in all, the market is optimistic the more they hear

about Trump policies. We're just seeing a reflection of that

optimism," said Bell.

However, investors have been concerned that tariffs could

add to inflation pressures and slow the Federal Reserve's pace

of interest rate cuts.

The Fed is expected to leave interest rates unchanged for

the first half of 2025, according to data compiled by LSEG.

Peter Tuz, president of Chase Investment Counsel in

Charlottesville, Virginia, noted that the Fed, which has a

policy meeting on Jan. 28-29, is expected to base rate decisions

on economic data rather than presidential demands.

"I don't think the Fed is going to pay much attention to

this," said Tuz. "They're looking at the data and they're going

to make their decision based on what they see."

Tuz saw Thursday's moves as a mix of reactions to earnings

reports and new Trump administration policies.

According to preliminary data, the S&P 500

gained 32.07 points, or 0.53%, to end at 6,118.44 points,

while the Nasdaq Composite gained 42.33 points, or

0.21%, to 20,051.67. The Dow Jones Industrial Average

rose 400.76 points, or 0.91%, to 44,557.49.

Power utilities stocks including Constellation Energy

and Vistra Corp ( VST ) rose after Trump told the World

Economic Forum that the United States needs double the energy it

has to power rapidly emerging AI operations.

Technology stocks took a breather after rallying

2.5% on Wednesday following Trump's announcement of a

private-sector $500-billion investment in AI infrastructure.

On the economic data front, a Labor Department report showed

weekly jobless claims stood at 223,000, compared with

expectations of 220,000.

In earnings, GE Aerospace stock advanced after it

forecast 2025 profit above estimates and shares in health

insurer Elevance rose after beating estimates for

fourth-quarter profit.

Electronic Arts ( EA ) shares sank after the video game

publisher cut its forecast for annual bookings. American

Airlines ( AAL ) shares fell after it forecast 2025 profit below

expectations.