Foreign Markets

The S&P 500 rose 14.57 points (0.2%) to 6,144.15, the Dow climbed 71.25 points (0.2%) to 44,627.59 and the Nasdaq inched up 14.99 points (0.1%) to 20,056.25.

Wall Street rebounded despite concerns over a global trade war and President Trump's planned 25% tariffs on U.S. imports. The Federal Reserve's January meeting minutes revealed officials are cautious about lowering interest rates until inflation shows more progress. They cited reduced risks for the labor market but increased inflation risks, partly due to potential trade and immigration policy changes.

The Commerce Department released a report showing housing starts pulled back by more than expected in the month of January. Computer hardware stocks extended the rally seen over the past several sessions, with the NYSE Arca Computer Hardware Index surging by 1.9%. Semiconductor stocks too were significantly strong, as reflected by the 1.2% gain posted by the Philadelphia Semiconductor Index. Healthcare stocks too notably moved upside while weakness remained visible among housing and airline stocks.

Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index dipped by 0.3%, while China's Shanghai Composite Index climbed by 0.8%. The major European markets all moved to the downside on the day. While the German DAX Index tumbled by 1.8%, the French CAC 40 Index slumped by 1.2% and the U.K.'s FTSE 100 Index slid by 0.6%.

In the bond market, treasuries showed a lack of direction before ending the day roughly flat. The yield on the benchmark ten-year note, which moves opposite of its price, edged down by less than a basis point at 4.53%.

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