From Nasdaq:

U.S. stocks closed higher but gains were limited ahead of inflation reports. Microsoft, Meta Platforms, and Nvidia were the biggest boosts to the S&P 500. Nvidia hit a record high and stock, following a beat in fourth-quarter revenue expectations. Stocks have struggled to find upward momentum after a strong rally at the end of 2023. The Dow Jones Industrial Average rose 170.57 points.

Market participants have scaled back expectations to a 67.6% chance for at least a 25-basis-point rate cut in March. The focus will turn to the December consumer and producer inflation reports. Federal Reserve Bank of New York President John Williams said it is still too soon to call for rate cuts.

Crypto stocks were mostly lower, with Coinbase down 0.46% and Riot Platforms off 1.21%. Boeing rose 0.92% following a 9.3% tumble in the prior two sessions after CEO Dave Calhoun acknowledged errors by the U.S. planemaker.

DocGo plunged 37.58% after Fuzzy Panda Research revealed a short position on the health services company’s stock. The S&P index recorded 31 new 52-week highs and one new low, while the Nasdaq recorded 108 new highs and 97 new lows. Volume on U.S. exchanges was 9.81 billion shares, compared with the 12.22 billion average for the full session over the last 20 trading days.



Read more: Stocks climb as megacaps lead; inflation data, earnings on deck