Investors were focused on President Trump's tariff policy on Thursday as the president unveiled plans for new chips tariffs that included exemptions for companies building in the U.S., or that have committed to build.

Apple stock gained 3.2% Thursday, a second day of solid gains, after President Trump said late Wednesday the iPhone maker and other tech companies could avoid 100% chip tariffs by [investing in U.S. m

The Dow finished up 0.2%, a modest advance compared with rival large-cap gauges. Winners were led by Apple AAPL, with its 5.1% jump also contributing to gains on the S&P 500 and the Nasdaq composite. The Nasdaq composite scored a 1.2% rise and marked its second-highest close on record. The S&P 500 ended up by 0.7%.