Chapter 1: What recent tariff announcement did President Trump make?
Here's your Closing Bell Brief for Friday, February 20th. I'm Catherine Sullivan for The Wall Street Journal. U.S. stocks climbed today as major indexes posted gains across the board. The Nasdaq rose 0.9%, the S&P 500 rose 0.7%, and the Dow rose 0.5% despite news of new global tariffs.
President Trump announced a 10% tariff under the Trade Act of 1974. This move follows a Supreme Court ruling that threw out previous trade measures. Investors seemed to anticipate the administration would find alternative ways to implement these fees. Among individual companies, Akamai Technologies shares slid 14% today.
The cybersecurity firm issued an earnings forecast that fell short of analysts' expectations. Opendoor Technologies' stock jumped 7.5%. The home selling platform reported quarterly revenue that beat market forecasts. Live Nation shares rose 3%. The entertainment company saw higher sales driven by strong demand for concert tickets.
And, Chemours' stock dropped 16.5% after the chemicals company reported a wider quarterly loss.
Chapter 2: How did individual stocks react to the new tariff news?
This decline occurred despite growth in its data center coolant business. Hence 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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