Dow Jumps 515.19 Points as Trump Lowers India's Tariff to 18%
The major averages closed broadly higher as a dramatic reversal in the price of gold eased. Wall Street is kicking off February with gains as data showed manufacturing activity expanded the most since 2022, boosting optimism. Gold ultimately fell on the day, but the precious metal recovered most of an earlier plunge.Meanwhile, President Trump said on social media that, following a phone call with Indian Prime Minister Narendra Modi, he plans to lower India's reciprocal tariff rate to 18% from 25%.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Disneyreportedand provided its outlook for Q2 and FY26Oracleexpects toof gross cash proceeds in 2026Nvidia'splan to, The Wall Street Journal reported, though Bloomberg later reported that Nvidia CEO Jensen Huang said the company's new OpenAI investment will be "huge"Devon Energyand Coterra Energyagreed to, implying a combined enterprise value of $58BPresident Trump lowered India's reciprocal tariff rate tofollowing a call with India's Prime Minister Narendra Modi2. WALL STREET CALLS:William BlairPalantirto Outperform after 30% pullbackHumanato Underweight at Morgan StanleyMcDonald'sto Buy at BTIG after talks with franchiseesScotiabankFortineton less share optimism for 2026Best Buyto Neutral at JPMorgan3. AROUND THE WEB:The United Steelworkers union did not accept or reject Marathon Petroleum'slatest contract offer, Reuters saysFordheld discussions with Xiaomiover a partnership to help Chinese carmakers gain a foothold in the U.S., FT reportsAlibabahas delivered more than 100,000 units of the Zhenwu 810E, an ASIC for AI training and inference, surpassing those of its domestic rival Cambricon, SCMP reportsA consortium led by KKRis close to a deal to purchase ST Telemedia Global Data Centres, a global data center provider based in Singapore, in a deal that values the company over $10B, WSJ saysWarner Bros. Discoverywill likely allow its shareholders to vote on its Netflixagreement in March, CNBC says4. MOVERS:Brookfield Asset Managementgains after announcingPeakstone Realty Trustfor $21 per sharePerspective Therapeuticsincreases afterYextdeclines after announcing its CEO hasto acquire all shares of the companyEldoradofalls after announcing itin a C$3.8B transactionXPenglower after announcing 20,011 vehicles5. EARNINGS/GUIDANCE:Tyson Foods, with EPS and revenue beating consensusAptivand provided guidance for FY26Revvity, with CEO Prahlad Singh commenting, "We finished 2025 on a strong note"OperaTwist Bioscienceand raised its guidance for FY26INDEXES:The Dow rose 515.19, or 1.05%, to 49,407.66, the Nasdaq gained 130.29, or 0.56%, to 23,592.11, and the S&P 500 advanced 37.41, or 0.54%, to 6,976.44.
