(Bloomberg) — Stocks rose after data showed faster-than-estimated economic growth, tempering concerns about a trade war as President Donald Trump pushed ahead with tariffs on automakers.

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The S&P 500 extended a rebound from a rout that’s still putting the US equity benchmark on pace for its worst quarter since 2023. Tesla Inc. and Amazon.com Inc. led gains in megacaps. Automakers from Toyota Motor Corp. to Stellantis NV, Mercedes-Benz Group AG and General Motors Co. got hit. The bond market is flashing concerns about the impact of tariffs on inflation, with short-term Treasuries outperforming longer maturities.

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The US economy expanded at a faster pace in the fourth quarter than previously estimated amid a robust increase in corporate profits. The Federal Reserve’s preferred inflation metric — the personal consumption expenditures price index excluding food and energy — was revised down to 2.6%.

While the data suggest US companies may have room to absorb higher costs from tariffs, consumers and businesses grow wary of the impacts of a trade war. Trump signed a proclamation to implement a 25% tariff on auto imports and pledged harsher punishment on the EU and Canada if they join forces against the US.

The S&P 500 added 0.3%. The Nasdaq 100 rose 0.3%. The Dow Jones Industrial Average was little changed.

The yield on 10-year Treasuries rose three basis points to 4.38%. The dollar wavered.

Some of the main moves in markets:

Stocks

• The S&P 500 rose 0.3% as of 10:58 a.m. New York time

• The Nasdaq 100 rose 0.3%

• The Dow Jones Industrial Average was little changed

• The Stoxx Europe 600 fell 0.4%

• The MSCI World Index rose 0.1%

Currencies

• The Bloomberg Dollar Spot Index was little changed

• The euro rose 0.3% to $1.0788

• The British pound rose 0.4% to $1.2945

• The Japanese yen fell 0.3% to 151.05 per dollar

Cryptocurrencies

• Bitcoin fell 0.1% to $87,176.32

• Ether rose 0.5% to $2,020.88

Bonds

• The yield on 10-year Treasuries advanced three basis points to 4.38%

• Germany’s 10-year yield declined one basis point to 2.78%

• Britain’s 10-year yield advanced six basis points to 4.79%

Commodities

• West Texas Intermediate crude rose 0.4% to $69.90 a barrel

• Spot gold rose 1.3% to $3,057.49 an ounce