Markets Steady, Positive; Q4 Earnings Keep Rolling

Market Overview - Markets opened positively, with the Dow up 167 points (+0.38%), S&P 500 up 40 points (+0.67%), Nasdaq up 190 points (+0.98%), and Russell 2000 up 7.9 points (+0.35%) [1] Steel Industry - Cleveland-Cliffs (CLF) shares surged by 18% on the day and are up 26% year-to-date, indicating strong market response to the steel tariff news [2] - Other steel companies like Nucor (NUE) and Alcoa (AA) experienced modest gains, reflecting a more tempered market reaction [2] Earnings Reports - Vertex Pharmaceuticals (VRTX) reported Q4 earnings of $3.98 per share, missing expectations by a penny, but revenues of$2.91 billion exceeded the $2.77 billion forecast, leading to a slight increase in share price [3] - Lattice Semiconductor (LSCC) reported Q4 earnings of 15 cents per share, below the anticipated 19 cents, but revenues of$117.4 million slightly surpassed expectations, resulting in a 14% increase in after-market trading [4] Upcoming Events - Fed Chair Jerome Powell is scheduled to testify before Congress, marking his first address since President Trump returned to office, which may impact market sentiment [4] - Notable earnings reports expected include Coca-Cola (KO), Marriott (MAR), and Shopify (SHOP) before market open, with DoorDash (DASH), Gilead Pharma (GILD), and Lyft (LYFT) reporting after the close [5]