US markets ended higher on Thursday, powered by gains in tech related stocks, with the S&P 500 leading the charge.

Nvidia, Apple and Tesla all rose after President Trump unveiled a roadmap for charging reciprocal tariffs on US trading partners.

A White House official said the tariffs would match the higher duties charged by other countries and could be imposed within weeks as Trump's trade and economic team studies bilateral tariff and trade relationships.

Stocks also gained after data showed US producer prices increased in January, while key elements in the core Personal Consumption Expenditures (PCE) index, a measure closely tracked by the US Federal Reserve, were benign or lower.

The S&P 500 climbed 1.04 percent to end at 6,115.07. It was the S&P 500's largest one-day gain since January 15.

The Nasdaq gained 1.50 percent to 19,945.64, and the Dow Jones Industrial Average rose 0.77 percent to 44,711.43.

Tesla jumped 5.9 percent, Nvidia climbed 3.2 percent and Apple rose 2 percent, lifting the S&P 500 to just short of its record high close on January 23.

"Equity investors are taking cues from the bond market," said Jack Ablin, chief investment officer at Cresset Capital. "Investors were also preparing for kind of an alarmingly high inflation number, based on tariffs." (Reuters)