Here's your closing bell brief for Tuesday, February 24th. I'm Catherine Sullivan for the Wall Street Journal.

U.S. stocks climbed higher today as a massive deal in the semiconductor industry boosted investor sentiment.

The NASDAQ rose 1%, while the S&P 500 and Dow both gained 0.8%. Gains in the software sector

helped the market recover from a broad sell-off on Monday. This rebound occurred as new 10% global

tariffs officially took effect at midnight. Investors are now awaiting further policy updates

from the State of the Union address this evening. Among individual companies,

Advanced Micro Devices shares jumped 9% following news of a major chip deal. Meta platforms will

buy over $100 billion worth of artificial intelligence chips from the firm. Home Depot shares rose 2%

after the retailer reported quarterly results that beat analyst

expectations. The company also noted it has no current plans to further increase its prices.

Apple shares gained 2% on news regarding the production of its Mac Mini desktop. The company is moving

some manufacturing for the computer from Asia to the United States.

And Whirlpool shares dropped 14% after the appliance maker announced a plan to raise capital.

The company will issue $800 million in new shares to pay down debt.

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.

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