Stock Market Closes Higher, Intel Slides on Missed Forecast, and Global News Updates

Market Performance and Economic Data

• 📈 Stocks closed higher on Wall Street, fueled by cooling geopolitical tensions, a rally in big tech, and solid economic data.
• 📊 The S&P 500 gained 38 points, the NASDAQ rose 211 points, and the Dow increased by 307 points.
• 📉 The ten-year Treasury yield settled at 4.25%, and the two-year yield at 3.61%.

Intel's Financial Setback

• ⚠️ Intel shares slid by more than 5% after its first-quarter sales forecast missed estimates.
• 📦 The company cited supply shortages as the cause for its lackluster forecast, impacting its ability to meet customer demand.

Geopolitical and Trade Developments

• ⚖️ EU lawmakers are expected to vote on a trade deal with the US after President Trump rescinded a threat to impose tariffs on European allies.
• 🤝 A deal struck with NATO's Secretary General Mark Rutte aims to enhance security in the Arctic region.
• 🗣️ President Trump's pivot on Greenland has raised questions among European allies about US trustworthiness.
• 🇺🇦 Ukrainian President Volodymyr Zelensky criticized Europe at the World Economic Forum for its perceived lack of willingness to counter Russian aggression.
• 🇨🇳 Argentinian President Javier Milei defended his country's economic ties with China, viewing it as a significant trading partner and market expansion opportunity.

Corporate and Legal News

• 🏦 Bank of America CEO Brian Moynihan expressed concerns that President Trump's proposed cap on credit card interest rates could slow consumer spending and reduce credit availability.
• 💳 Bank of America and Citigroup are reportedly exploring offering cards with a 10% interest rate.
• 🚀 SpaceX is reportedly lining up banks for its IPO, aiming for the largest listing ever.
• 🤖 Tesla is expected to sell its Optimus Robots to the public by the end of next year.
• ⚖️ Former special counsel Jack Smith testified before the House Judiciary Committee, defending his investigations into President Trump's actions post-2020 election and emphasizing the importance of the rule of law.

Weather Alerts

• ❄️ Millions across the US are bracing for a potentially catastrophic ice storm, with widespread power outages anticipated.