Dow ends higher, S&P 500 and Nasdaq bounce back after Monday's AI-inspired rout
U.S. stocks finished higher on Tuesday, as the S&P...
U.S. stocks finished higher on Tuesday, as the S&P 500 and the Nasdaq Composite recovered most of their losses from the previous session after the sudden rise of Chinese AI startup DeepSeek sent shockwaves through Wall Street.
The Dow Jones Industrial Average rose 0.3% to end near 44,850, according to preliminary data from FactSet.
The S&P 500 was up 0.9% to finish around 6,067, snapping a two-day losing streak.
The Nasdaq Composite surged over 2%, ending near 19,733. It was the best day for the tech-heavy index since Jan. 15, according to Dow Jones Market Data.
Investors were turning their attention to corporate earnings due this week amid concerns that a low-cost Chinese AI model could challenge American companies' dominance in the sector and their lofty valuations that have powered the bull market for the last two years. Microsoft Corp., Meta Platforms Inc. and Tesla Inc. are due to report their quarterly results on Wednesday after the closing bell, while Apple Inc. will report on Thursday.
The Federal Reserve also kicked off its two-day policy meeting on Tuesday, with fed-funds futures traders expecting no change in interest rates on Wednesday from the current range of 4.25% to 4.50%.
U.S. durable-goods orders rise for fourth month in past five
Sales of big-ticket manufactured goods and overall U.S....
Sales of big-ticket manufactured goods and overall U.S. business investment showed signs of revival toward the end of 2024, but it’s unclear whether a two-year industry slump is ending.
Orders for durable goods omitting transportation rose 0.3% in December and increased for the fourth time in the past five months. Durable goods are items such as computers and appliances meant to last at least three years
Overall orders fell 2.2% in the month, but almost entirely because of a decline in bookings for Boeing aircraft.
The ups and downs of the struggling U.S. plane manufacturer has skewed the headline durable-goods number for more than a year.
American manufacturers hope for bigger things in 2025, but not all the headwinds have died down. Interest rates remain high because of lingering inflation and some of Trump’s threatened tariffs could exacerbate price pressures.
Blackstone's $1B gas plant deal tied to data center growth
Blackstone Energy Transition Partners has reached a deal to purchase...
Blackstone Energy Transition Partners has reached a deal to purchase the Potomac Energy Center, a 774-megawatt gas-fired power plant in northern Virginia, for approximately $1 billion. The plant's proximity to a major data center hub highlights growing investor interest in energy assets essential for powering AI infrastructure.
Tax season has arrived. Starting yesterday, the IRS began accepting and...
Tax season has arrived. Starting yesterday, the IRS began accepting and processing your 2024 federal income tax returns and will continue to do so through April 15 (there are some exceptions).
Sure, this feels a little like your professor explaining that you have a final paper due at the end of the semester and it would be wise to “start now.” But the sooner you file, the sooner you’ll get your refund. Nearly two-thirds of Americans who filed taxes got a refund last year, and the average windfall was more than $3,100.
Trump bans transgender service members from military. President...
Trump bans transgender service members from military. President Donald Trump signed new executive orders yesterday aimed at revamping the US military. One order bars transgender people from serving—something Trump also did during his last term that Joe Biden reversed—while another order eliminates DEI initiatives from the Defense Department. The president also signed an order reinstating people who were discharged during the pandemic for refusing to get Covid vaccines, and one calling for the US to develop its own version of Israel’s “Iron Dome” missile defense system.
The Justice Department said it fired “a number of DOJ officials” involved in prosecuting President Donald Trump.
Perplexity AI is among the suitors hoping to buy TikTok, and it presented ByteDance with a new merger proposal that would give the US government a 50% stake in the company if it IPOs in the future.
Survivors marked the 80th anniversary of the liberation of Auschwitz with a solemn ceremony at the site of the Nazi death camp attended by several world leaders.
Robert F. Kennedy Jr., Trump’s controversial pick to head the US Department of Health and Human Services, will face senators at a confirmation hearing tomorrow.
New Zealand eased its visa rules to allow foreigners to work while traveling in the country in an effort to boost tourism, in case your digital nomad dreams include working from a hobbit hole.
