Stocks Close Mostly Higher as Tech Rebounds; Peloton Sinks on Weak Outlook
• Dow closed higher, notching a fresh record closing high as dip buyers piled into tech stocks • Amazon, Apple, and Meta set to report earnings after stock jumps in after-hours trading • Peloton stock sank 24% on weak revenue and cash flow outlook; Merck rose on strong cancer drug sales • Jobless claims ticked up ahead of monthly jobs report expected to show slowing job growth • Fed kept rates on hold but dashed hopes of a March cut, prompting market selloff