Global Markets: U.S. Major Indices Close Higher Across the Board, Gold and Storage Concept Stocks Rise, Micron Technology Up Over 5%

U.S. Stock Market: The three major U.S. stock indices all closed higher on February 18. At the close, the Dow Jones Industrial Average rose 129.47 points to 49,662.66, up 0.26%; the S&P 500 increased 38.09 points to 6,881.31, up 0.56%; the Nasdaq Composite gained 175.25 points to 22,753.63, up 0.78%.

Large-cap tech stocks mostly rose, with Nvidia, Netflix, and Amazon up over 1%, while Apple, Tesla, Google, and Meta saw modest gains.

In earnings news, Booking reported Q4 revenue of $6.35 billion, beating analyst expectations of $6.13 billion. Q4 room nights sold reached 285 million, versus an expected 277.61 million. Revenue for Q1 is expected to grow 7%-9% at constant currency, with bookings up 5%-7%. eBay forecasts Q1 net revenue of $3.0-$3.05 billion, compared to analyst expectations of $2.79 billion.

Gold and storage-related stocks in the U.S. market mostly rose, with Micron Technology up over 5%, Western Digital up over 4%, Pan American Silver up over 3%, and Harmoni Gold, Kinross, SanDisk, and Seagate Technology up over 1%.

Popular Chinese concept stocks had mixed performance, with the Nasdaq Golden Dragon China Index down 0.04%. TSMC fell 0.53%, Alibaba rose 0.22%, Pinduoduo up 1.07%, Ctrip up 0.91%, China Internet Plus Service Group down 9.38%, Tencent Holdings (ADR) up 0.66%, Baidu up 0.39%, Futu Holdings up 2.40%, Yamin Sports up 2.61%, and ASE Semiconductor down 0.55%.

European Markets: The three major European stock indices all closed higher on February 18, with UK, France, and other national indices reaching new all-time highs. The FTSE 100 in London closed at 10,686.18, up 130.01 points or 1.23%. France’s CAC 40 closed at 8,429.03, up 67.57 points or 0.81%. Germany’s DAX closed at 25,278.21, up 279.81 points or 1.12%.

Commodity Markets: International oil prices rose on February 18. At the close, NYMEX WTI crude futures for the current month increased $2.68 to $64.94 per barrel, up 4.30%. COMEX gold futures for the current month rose $90.20 to $4,996.10 per ounce, up 1.84%. COMEX silver futures increased $3.59 to $77.13 per ounce, up 4.88%. Spot gold rose $100.10 to $4,977.50 per ounce, up 2.05%. Spot silver increased $3.64 to $77.18 per ounce, up 4.95%.

Overnight Headlines

Federal Reserve Minutes Reveal Divisions on Interest Rate Path: Cut, Pause, or Hike?

The latest January Federal Reserve meeting minutes show clear disagreements among officials regarding the outlook for interest rates, wavering between controlling inflation and supporting the labor market. After the January 28 policy meeting, the Federal Open Market Committee (FOMC) announced it would keep the federal funds rate target range unchanged at 3.50%-3.75%, ending a streak of three rate cuts.

Geneva Talks Conclude; Russia, US, Ukraine Say “Progress Made”

On February 18, local time, Russia, the US, and Ukraine responded to the latest round of Geneva trilateral talks. White House Press Secretary Karine Jean-Pierre stated that the recent US-Russia-Ukraine engagement “made meaningful progress,” and all parties agreed to continue negotiations. She also noted that the US continues to sell weapons to NATO allies for their own defense.

Google Sparks AI Battle Again: Gemini Launches Music Model, Generate Songs with a Single Sentence

On Wednesday (February 18), during US stock market hours, Google announced on its official blog that the Gemini application now features the company’s most advanced music generation model, Lyria 3. Users can create 30-second music clips using text or images. The press release states, “Just describe an idea or upload a photo, and Gemini can transform it into a high-quality, catchy song within seconds. To further expand creative possibilities, you can even let Gemini draw inspiration from uploaded content.”

FDA Plans to Accelerate “Over-the-Counter” Drug Switch to Lower Prices, Industry Warns “Could Be More Expensive”

Marty Makary, Director of the US Food and Drug Administration (FDA), recently stated that unless a drug poses safety risks, addiction potential, or requires medical monitoring, “it should be switched to over-the-counter (OTC) sales.” On Wednesday (February 18), Makary said in an interview that the FDA plans to make adjustments this year to allow more companies to convert prescription drugs to OTC status. He noted that the FDA is updating the OTC monographs—rules determining which drugs can be sold without a prescription—through “appropriate regulatory procedures.”

Goldman Sachs: Trump’s Policies Caused Sharp Drop in Immigration, Reshaping US Workforce

A recent Goldman Sachs report indicates that under President Trump’s comprehensive immigration restrictions during his second term, net immigration to the US plummeted by 80%. The sharp decline in foreign labor inflow is fundamentally changing the structure of the US labor supply. Led by David Mericle, Goldman’s US economic team expects a significant decrease in new labor entering the US.

Putin Meets Cuban Foreign Minister: Rejects US Sanctions on Cuba

On February 18, local time, Russian President Vladimir Putin met with Cuban President’s envoy and Foreign Minister Rodriguez at the Kremlin. Putin stated that Russia and Cuba share a special historical relationship, and Russia has always supported Cuba’s right to independence and to pursue its own development path, continuously backing the Cuban people. He emphasized that Russia will never accept US sanctions against Cuba.

White House: US-Iran Negotiations Make Progress but Remain Far Apart on Key Issues

On February 18, White House Press Secretary Karine Jean-Pierre said that US-Iran talks “made some progress,” but the two sides remain “far apart” on critical issues. Iran is expected to submit more detailed proposals in the coming weeks, and President Trump will continue to assess the negotiations’ progress. The White House declined to specify whether a final deadline or military options are being considered. Jean-Pierre stated that President Trump remains in close contact with the national security team and prioritizes US interests and troop safety in any military decision.

Multiple Environmental Groups Sue US Government Over Reversal of “Greenhouse Gas Harm” Designation

On February 18, local time, more than a dozen public health and environmental organizations filed a lawsuit in the US Court of Appeals in Washington, D.C., challenging the government’s decision to revoke the “greenhouse gas harm” designation. The plaintiffs include the American Public Health Association, American Lung Association, Center for Biological Diversity, and Natural Resources Defense Council. The complaint names the Environmental Protection Agency and its administrator, Lee Zeldin, as defendants.

NATO Confirms Location of Arctic Joint Air Operations Center

On February 17, Norway’s Ministry of Defense announced that NATO has officially approved the permanent site for its third joint air operations center, located at an airbase in Bodo, Norway. The center is scheduled to be operational by October 2025. Originally intended as a temporary location, it was planned to be relocated later to the Røten mountain area in Bodo.

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