U.S. stocks closed higher, with S&P 500 hitting a record high; tech stocks rallied

From Nasdaq: 2025-02-20 09:18:00

U.S. stocks closed higher on Wednesday, with the S&P 500 hitting a new record high. The Dow Jones rose 0.2%, while the S&P 500 and Nasdaq both added 0.1%. Investors were focused on the Fed’s meeting minutes and President Trump’s tariff threats.

Healthcare, utilities, and consumer staples were the top gainers in the S&P 500. The fear gauge VIX was down to 15.84. Tech stocks rallied, with Microsoft launching a quantum computing chip. Economic data showed a decline in U.S. housing starts but a slight increase in building permits for January.

Investors analyzed the Fed’s concerns about high inflation and Trump’s tariff proposals. Trump plans to impose 25% tariffs on pharmaceuticals, autos, and semiconductors, raising fears of a global trade war. Despite these uncertainties, stocks rallied, and tech stocks saw gains.

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Read more at Nasdaq: Stock Market News for Feb 20, 2025