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What factors contributed to the rise in U.S. stocks today?
Here's your Closing Bell Brief for Wednesday, February 18th. I'm Katherine Sullivan for The Wall Street Journal. U.S. stocks finished higher today as technology shares led the market.
The Nasdaq climbed 0.8% for its second straight winning session. The S&P 500 added 0.6%, while the Dow rose 0.3%. Minutes from the Federal Reserve showed little appetite for interest rate cuts. Oil futures rose as traders watched tensions between the U.S. and Iran. Among individual companies, Nvidia shares rose more than 1.5 percent following an artificial intelligence chip deal with Meta.
Analog Devices' stock climbed nearly 3 percent after the chip company reported stronger-than-forecast quarterly results and guidance. Caesars Entertainment shares surged 13 percent after revenue topped forecasts and the casino operator's CEO forecast a stable year. Moderna stock jumped 6 percent as the FDA agreed to review the company's flu shot after previously declining to do so.
Kenview shares rose 2.5 percent after the Tylenol maker posted stronger-than-expected results and announced layoffs. And Cadence Design Systems' stock rose nearly 8% after the maker of chip design software posted better-than-expected annual guidance.
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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