The company said the new plug-ins were developed with partners including Thomson Reuters, owner of Reuters news agency, Salesforce and FactSet.FactSet shares rose 3.8%, while U.S.-listed shares of Thomson Reuters rose 8.8%.
Salesforce advanced 3.4%, making it one of the biggest gainers on the blue-chip Dow, along with Home Depot, which rose 2.7% after the home improvement chain beat estimates for fourth-quarter results and maintained its full-year forecasts.
The S&P 500 software and services index climbed 0.5%, recouping some losses. So far this year, the sector is down 23.5% as the industry grapples with fears of AI disruption.
At 10:10 a.m. ET, the Dow Jones Industrial Average rose 289.29 points, or 0.59%, to 49,093.35, the S&P 500 gained 19.31 points, or 0.28%, to 6,857.06, and the Nasdaq Composite rose 114.05 points, or 0.50%, to 22,741.33.Advanced Micro Devices rose 6.7% after the chipmaker said it had agreed to sell $60 billion worth of AI chips to Meta Platforms over five years.
Most mega-cap and growth stocks were higher, with Apple leading the way with a 3% rise, although Alphabet and Nvidia lagged behind with declines of almost 1% each.
Nvidia’s quarterly results, which will be released after market close on Wednesday, will be intensely scrutinized by investors.
All three major indexes fell more than 1% on Monday, with financial and software stocks among the hardest hit, as the fallout from Friday’s US Supreme Court ruling on Trump’s tariffs caused an exodus from risky stocks.
After Friday’s ruling, Trump announced a temporary 10% global tariff, which took effect on Tuesday. He later said the levy would be 15%, but it was unclear when or if this would apply.
“Not only does the market have one specific concern… AI trading has certainly become a concern for the market, but there are also geopolitical concerns, macro concerns and of course the rate concerns,” said Peter Cardillo, chief market economist at Spartan Capital Securities.
Analysts also attributed Monday’s selloff to a bearish report from Citrini Research outlining the potential threats to the global economy from the rise of artificial intelligence.
February was a tough month for US stocks as high stock valuations and AI issues put pressure on tech and other sectors, with investors wondering whether the massive AI spending was actually paying off.
Among other stocks, Keysight Technologies rose 20.5% after the electronic equipment maker forecast second-quarter profit that topped Wall Street estimates.
Advancing issues outpaced declining issues by a 1.34-to-1 ratio on the NYSE and by a 1.65-to-1 ratio on the Nasdaq. The S&P 500 posted 27 new 52-week highs and 11 new lows, while the Nasdaq Composite posted 60 new highs and 117 new lows.
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