Transcript generated automatically by AI and may contain errors.
Chapter 1: What is the main topic discussed in this episode?
Here's your Closing Bell Brief for Tuesday, March 31st. I'm Katherine Sullivan for The Wall Street Journal. U.S. stocks surged today to reach their largest one-day gains in 10 months. The Nasdaq led the rally with a rise of 3.8%. The S&P 500 jumped 2.9%, while the Dow advanced 2.5%.
Investors responded to reports that the current phase of the war with Iran might end soon, but the trajectory of the conflict and the opening of the Strait of Hormuz are far from certain. Oil prices fell today as Brent crude dropped to under $104 a barrel. Among individual companies, McCormick shares slid 6% following a major merger deal.
The spice maker agreed to combine with the food business of Unilever.
Chapter 2: What led to the surge in U.S. stocks today?
Unilever shares fell over 7%. Apellis Pharmaceuticals shares rose 135 percent after a buyout from Biogen. Biogen agreed to purchase the company for $41 a share. Centessa Pharmaceuticals' shares rose 44%. The move followed an announcement that Eli Lilly would buy the firm at a 38% premium. And Marvel Technology shares jumped nearly 13% after announcing a new partnership.
The semiconductor company will work with NVIDIA and received a direct investment. 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.
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