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Here's your Closing Bell Brief for Wednesday, February 25th. I'm Katherine Sullivan for The Wall Street Journal. U.S. stocks rose today as investors looked ahead to major earnings reports. Technology and software sectors led the rebound from Monday's market sell-off.
The Nasdaq climbed 1.3 percent following a rally in artificial intelligence names. The S&P 500 and the Dow both gained less than 1 percent. Among individual companies, NVIDIA reported earnings after the bell, quelling fears of an AI bubble with $68 billion in sales in the fourth quarter. The stock was up 3% in after-hours trading. Salesforce similarly reported earnings after the close.
Its revenue outlook was weaker than analysts expected, and the stock was down nearly 5% after hours, on concerns that AI will threaten its business. Netflix shares jumped 6% during the trading session. The rally followed news that Warner Bros. Discovery said it would consider a new Paramount Skydance bid. Lowe's shares dropped nearly 6% despite reporting stronger-than-expected quarterly results.
The retailer warned that economic uncertainty and a frozen housing market are hurting business. And Mediterranean restaurant chain Kava saw its shares surge over 26 percent. The company reported quarterly sales and annual guidance that both topped analysts' forecasts.
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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