Wall Street ends higher on AI strength; steelmakers climb on Trump tariff threat
By Noel
Randewich and Shashwat Chauhan
Mon February 10, 2025 7:35 PM
Tech shot straight up right out the gate and stayed up the rest of the day while industrials went through a seesaw motion but still ended the day with respectable gains, all quite the opposite of Friday’s action though not quite enough to overcome the prior session’s losses. The tariff threat is what brought the market down on Friday and, ironically, a new tariff announcement today on aluminum and steel boosted the market.
Specifically U.S. metals producers like U.S. Steel and Steel Dynamics rose more than 4%. Spurred by good earnings, AI companies like Nvidia and Broadcomm also rose between about 3 and 5%. Q4 is at the halfway point and the S&P forecast is now for 14.8% earnings growth vs under 10% a month ago. Volume was well above the 14.9 billion average, coming in at 16.1 billion.
DJ: 44,303.40 -444.23 NAS: 19,523.40
-268.59 S&P: 6,025.99
-57.58 2/7
DJ: 44,470.41 +167.01 NAS: 19,714.27
+190.87 S&P: 6,066.44
+40.45 2/10
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