Stock Market Today, Feb. 24: Broad Rally Lifts Markets As Investors Look Ahead to Nvidia Earnings Tomorrow and Trump's State of the Union

Market Performance - The S&P 500 rose 0.78% to 6,891.04, the Nasdaq Composite gained 1.04% to 22,863.68, and the Dow Jones Industrial Average added 0.76% to 49,174.49 as AI jitters eased [1] Market Movers - Iovance Biotherapeutics jumped 32% on positive sarcoma trial data, while Advanced Micro Devices climbed on reports of a new AI chip deal with Meta Platforms [2] - J.M. Smucker outperformed after a Bank of America upgrade, while General Mills lagged after a downgrade [2] Investor Sentiment - After a market sell-off due to concerns over AI's "doomsday potential" and the Supreme Court's tariff ruling, stocks rebounded broadly [3] - The market has shifted from concerns about the viability of software stocks to a focus on AI stocks needing to show ROI by 2026, indicating interesting market rotations [3] Investment Trends - The ongoing "HALO" trade involves buying stocks with "heavy assets, low obsolescence," which are less susceptible to AI disruption, with J.M. Smucker being a prime example [4] - SJM stock has already risen 12% in 2026, reflecting the success of this investment strategy [4] Upcoming Events - President Trump's State of the Union speech is scheduled for tonight, and Nvidia will report earnings tomorrow after market close, with a 95% chance predicted for the company to beat earnings [5]