Katherine Sullivan

And Scholastic shares jumped nearly 9% after the publishing house announced a $200 million stock buyback.

Heads up, an artificial intelligence tool helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor.

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Here's your Closing Bell Brief for Monday, March 16th.

I'm Katherine Sullivan for The Wall Street Journal.

U.S.

stocks rose today as oil prices pulled back from recent highs.

The Dow climbed 388 points, or 0.8 percent.

The S&P 500 closed up 1 percent.

And the Nasdaq led the major indexes with a 1.2 percent gain.

International crude prices retreated as efforts intensified to reopen the Strait of Hormuz.

Investors are now looking ahead to interest rate decisions from several global central banks.

Among individual companies, NVIDIA shares rose 1.6 percent today.

Chief Executive Jensen Wong delivered a keynote speech at the company's Artificial Intelligence Conference.

Meta shares rose over 2 percent following a report from Reuters that the company is planning sweeping layoffs.

The Facebook parent also signed a large deal for artificial intelligence infrastructure.

Dollar Tree shares climbed nearly 7 percent after the retailer reported a quarterly profit.

The company reached that milestone despite issuing a cautious outlook for the future.

Micron Technology shares increased nearly 4 percent in morning trading.