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Here's your closing bell brief for Wednesday, March 25th. I'm Katherine Sullivan for The Wall Street Journal. U.S. stocks jumped today on cautious hopes for a Middle East resolution. The Nasdaq was up 0.8 percent, the Dow was up 0.7 percent, and the S&P 500 was up half a percent. Energy prices pulled back as mediators explored a potential ceasefire deal.
Gold prices rose while treasury yields slipped amid the diplomatic negotiations. Among individual companies, Chewy shares surged 13 percent after the retailer issued upbeat guidance. Shares in Temu parent company PDD jumped 5 percent as revenue rose despite lower quarterly profits. Alibaba and JD.com shares rallied 5 percent each after Chinese authorities signaled a push to end price wars.
Newmont shares gained 2.5% as gold prices recovered from recent steep declines. And KB Home shares fell 1.5% after the homebuilder cut its guidance amid challenging housing market conditions. 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.
We'll have a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.
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