Transcript generated automatically by AI and may contain errors.
What happened in the stock market today?
Here's your Closing Bell Brief for Thursday, April 9th. I'm Katherine Sullivan for The Wall Street Journal. U.S. stocks turned higher today as major indexes reversed their early morning declines. The S&P 500 rose for its seventh straight session, ending the day up 0.6%.
The Dow also added 0.6% to move into positive territory for the year. And the Nasdaq was up 0.8%. Investors focused on reports that Israel and Lebanon will pursue direct ceasefire talks soon. This optimism helped oil prices settle below $100. Shares of oil companies slipped. ExxonMobil shares dropped 0.8%.
Meanwhile, the Federal Reserve's preferred inflation gauge showed that prices stayed high in February, though it doesn't reveal much about the pricing pressures from the war. Among other individual companies, Micron Technology shares rose 4% during afternoon trading. Investors hope a regional ceasefire will unlock supplies of helium needed for chip production.
Walt Disney shares inched nearly 1% higher following reports of planned layoffs under its new chief executive. Shares in Constellation Brands, the U.S. importer of Corona and Modelo beers, jumped 8.5% after reporting a spending rebound among Hispanic customers.
And Seven and I Holdings shares fell nearly 5% after the owner of 7-Eleven Markets warned of a drop in annual profit and said it would delay its planned IPO. 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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