Markets News, February 18, 2025: S&P 500 Sets Record High as Stocks Rally in Late Trading; Intel, Supermicro Shares Continue to Surge

Stocks rallied in late trading Tuesday to push major indexes into positive 

territory for the session and boost the S&P 500 to a record high. 

The S&P 500 closed 0.2% higher, posting an all-time high for the first time in 

nearly four weeks, while the Nasdaq Composite and Dow Jones Industrial 

Average each rose less than 0.1%. The major indexes added to solid gains last 

week, leaving the Nasdaq and Dow each less than 1% away from record highs of 

their own. (U.S. financial markets were closed on Monday for the Presidents' 

Day holiday.)

Among the big movers on Tuesday, Intel (INTC) shares soared 16% to lead  

Broadcom and Taiwan Semiconductor Manufacturing Co. (TSM) are considering 

bids for parts of the embattled chipmaker. Super Micro Computer (SMCI) shares 

also surged 16%, pacing the S&P 500, as the stock extended a rally that kicked 

off last week when the embattled server maker issued a rosy outlook for AI-

fueled sales growth.

Walgreens Boots Alliance (WBA) shares jumped 14% following a report the 

pharmacy chain's possible deal to sell itself to private equity firm Sycamore 

Partners may be back on the table. Shares of Constellation Brands (STZ) rose 

nearly 4% following news that Warren Buffett's Berkshire Hathaway had taken a 

stake in the parent of Modelo beer, Robert Mondavi wine and other alcoholic 

beverages brands.

Shares of mega-cap technology companies were mostly lower on Tuesday. 

Shares of Meta Platforms (META) fell 2.8%, snapping a 20-session winning 

streak during which the stock had gained more than 20%. Apple (AAPL), 

Alphabet (GOOG), Amazon (AMZN), Tesla (TSLA) and Broadcom (AVGO) also lost 

ground, while Nvidia (NVDA) and Microsoft (MSFT) inched higher.

Among noteworthy decliners, Medtronic (MDT) shares were down 7.3% after the 

medical devices company reported disappointing sales, while Conagra Brands 

(CAG) dropped 5.5% after the food company cut its profit outlook. Southwest 

Airlines (LUV) shares slipped nearly 1% after the company said it plans to cut 

15% of its corporate workforce, the first major layoffs in the budget airline's 

history.

In other markets, bitcoin was at $95,300 late Tuesday afternoon, down from a 

Friday high of around $99,000 but up from an intraday low around $93,300. 

Gold futures were up 1.8% at around $2,950 an ounce, approaching a record 

high, while West Texas Intermediate crude oil futures gained 1.5% to $71.85 a 

barrel.

The yield on 10-year Treasurys, which correlates with expectations about where 

interest rates are headed, was at 4.55%, up from 4.48% at Friday's close. The 

yield jumped as high as 4.66% last week after disappointing inflation data 

raised concerns about whether the Federal Reserve would be in a position to 

cut rates this year.

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