Why did U.S. stocks rise amid tariff tensions?
Here's your Closing Bell Brief for Thursday, January 22nd. I'm Katherine Sullivan for The Wall Street Journal. U.S. stocks rose today as investors welcomed a pause in tariff threats. President Trump backed off plans to levy European countries over Greenland. The Nasdaq led the session, climbing 0.9%.
The S&P 500 and the Dow each added 0.6%. Economic data also supported the mood. GDP rose 4.4% on an annualized basis in the third quarter, up from its prior estimate. Among individual companies, Intel reported a wider loss than expected after the bell today and predicted further losses in the first quarter as it ramps up spending. The stock was down 6% in after-hours trading.
Procter & Gamble shares rose nearly 3%. The maker of Everyday Goods reported mixed quarterly results with higher revenues and a cut to its earnings outlook. Abbott Laboratories stock dropped 10%. The medical device maker reported quarterly sales that undershot expectations. And Venture Global shares jumped 5%. The gas exporter won an arbitration dispute over liquid natural gas sales.
And before we go, note that we had a correction on today's midday brief. More than 1.2 million people under age 50 died of cancer in the U.S. from 1990 through 2023. An earlier version of that podcast incorrectly said the figure applied only to colorectal cancer.
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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