05:19 PM EDT, 05/08/2025 (MT Newswires) -- US benchmark equity indexes advanced Thursday as President Donald Trump sounded optimistic about reaching trade deals with other countries after Washington struck an agreement with the UK.

The Nasdaq Composite closed 1.1% higher at 17,928.1, while the Dow Jones Industrial Average and the S&P 500 each rose 0.6% to 41,368.6 and 5,664, respectively. Most sectors ended in the green, led by consumer discretionary and industrials, while health care dropped the most.

As part of its UK deal, the US will raise $6 billion in external revenue from 10% tariffs, $5 billion in "new export opportunities," while creating an aluminum and steel trading zone and a "secure" pharmaceutical supply chain, Trump said in a social media post. "Many more (deals) to come."

US Commerce Secretary Howard Lutnick said British airlines would place a $10 billion order for Boeing ( BA ) planes, Reuters reported. The US plane maker's shares were up 3.3%, the top gainer on the Dow.

Other nations seeking trade deals may not get down to the 10% baseline tariffs, The Wall Street Journal reported, citing Trump.

US and Chinese officials are due to meet in Switzerland over the weekend to discuss economic and trade matters. "We're gonna have a good weekend with China," Trump said Thursday, according to a separate WSJ report.

US Treasury yields were higher, with the 10-year rate jumping 11.1 basis points to 4.85% and the two-year rate gaining 10.6 basis points to 3.90%.

An April survey released by the Federal Reserve Bank of New York showed that consumers' inflation expectations rose over the medium term, while falling over the long term.

"Labor market expectations largely deteriorated in April," the Fed branch said. "Households also expect lower income growth over the next year, and their perceptions about both their current financial situation and their outlook for their financial situation one year from now deteriorated sharply."

Weekly applications for unemployment insurance fell from an approximately two-month high, government data showed, suggesting US labor market conditions remained healthy.

On Wednesday, the Federal Reserve left its benchmark lending rate unchanged for a third straight meeting, while acknowledging that upside risks to inflation and unemployment were growing. The central bank's Federal Open Market Committee reiterated its remarks from March that labor market conditions in the US continued to be "solid."

There is "little in the incoming data to challenge" the Fed's assessment of the labor market, Oxford Economics Deputy Chief US Economist Michael Pearce said in remarks e-mailed to MT Newswires.

In company news, Arm Holdings' ( ARM ) US-listed shares fell 6.2%. The British semiconductor manufacturer late Wednesday issued fiscal first-quarter earnings outlook below market estimates.

Match Group ( MTCH ) shares were down 9.6%, posting the steepest drop on the S&P 500, as the company said it plans to reduce its workforce by 13% and centralize key functions.

Warner Bros. Discovery ( WBD ) shares climbed 5.3% after the media and entertainment giant's first-quarter loss narrowed more than expected, although revenue came in weaker than analysts' projections amid declines in domestic linear pay TV subscribers.

Papa John's International (PZZA) shares jumped nearly 16% after the company affirmed its guidance for a rebound in system-wide sales this year as first-quarter revenue surpassed analysts' views.

Peloton Interactive ( PTON ) shares slumped 6.7% after the fitness company tightened its full-year revenue guidance as fiscal third-quarter loss narrowed less than projected.

West Texas Intermediate crude oil was up 3.3% at $60 a barrel.

Gold was down 2.4% at $3,310.70 per troy ounce, while silver dropped 0.7% to $32.57 per ounce.