Wall Street experienced a rebound, with major indices closing higher following a previous session's sell-off.
The recovery was driven by a surge in technology stocks, particularly Advanced Micro Devices, which announced an expanded agreement with Meta Platforms for AI infrastructure chips. Home Depot also reported better-than-expected quarterly comparable sales, leading to a 2% increase in its shares.
However, market sentiment remains cautious due to ongoing concerns about global trade tariffs, with FedEx filing a lawsuit seeking refunds for tariffs paid. Investors are also anticipating President Trump's State of the Union address and are closely watching Nvidia's upcoming earnings report, which is considered a bellwether for AI demand.
Oil prices remained near seven-month highs ahead of potential U.S.-Iran nuclear talks.
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