Stock Market Today: Live Updates

Coca-Cola's stock price was little changed after the beverage giant reported mixed results for the fourth quarter.

The company's adjusted earnings were 49 cents per share, in line with LSEG's expectations. Sales were $10.85 billion, exceeding expectations of $10.68 billion. Stronger-than-expected sales contributed to the price increase.

— Fred Imbert

Japan's benchmark Nikkei average exceeded the 38,000 yen mark on Tuesday, marking the first time the index has reached that level since 1990.

The index rose above 38,000 points minutes before the close, but fell slightly to close at 37,963.97, up 2.89%.

The broad-based Topix also rose 2.12%, closing at 2,612.03, also a 34-year high.

According to Reuters, index provider MSCI raised India's weight in its Global Standard Index to a record 18.2% in its February review.

The report added that India's weight in the index has nearly doubled since November 2020.

MSCI announced that it added five Indian securities to its index in the February review. In total, MSCI will add 24 stocks to the index and remove 101 stocks.

Most notably, 66 Chinese securities were removed from the index and only five were added. The changes will take effect after the market closes on February 29th.

— Lim Huijie

Japanese investment holding company SoftBank's stock price rose as much as 10.2% as Arm stock continued to rise into its second week.

The chip designer saw its stock price soar 29% on Monday. The company is up 93% since releasing its quarterly financial report on February 8th. SoftBank owns approximately 90% of Arm's outstanding shares.

The gains made SoftBank the biggest gainer on the Nikkei average on Tuesday, with the index also up about 2% and leading gains among Asian markets.

Bank of America says credit card spending may have decreased in January, but this is normal behavior.

Spending activity in January was down 0.8% from the same month last year and 10.6% from December.

“While there have been headlines about a soft January, we note that our data suggests spending in January was historically down 14.6% month-on-month,” said analyst Mihir Bhatia. “So we see the data as better than expected.”

— Lisa Kailai Han

The Russell 2000 Index just completed its third consecutive winning session.

The small-cap benchmark closed 1.75% higher on Monday, its best day since Jan. 22. This follows gains of 1.53% on Friday and 1.5% on Thursday. Over the past week, the Russell 2000 has risen over his 5%.

Despite its recent strong performance, the Russell 2000 continues to lag the three major averages for the year. In 2024, it will rise 0.9%, while the S&P 500 index will rise 5.3%. Tech stocks continue to dominate, with the Nasdaq Composite Index up more than 6% this year. The Dow Jones Industrial Average rose just under 3% during this period.

–Darla Mercado, Chris Hayes

Let's take a look at some of the companies that are making headlines for their after-hours trading.

JetBlue Airways — The company's stock rose more than 15% after activist Carl Icahn reported that he owned nearly 10% of the company. He said JetBlue stock is undervalued.

Avis Budget Group — Shares fell about 1% after the rental car company's fourth-quarter revenue of $2.76 billion fell short of expectations. Analyst estimates compiled by LSEG (formerly Refinitiv) were $2.81 billion.

ZoomInfo Technologies – The market intelligence company’s stock price soared nearly 23%. ZoomInfo had fourth-quarter revenue of $316 million and reported adjusted earnings of 26 cents per share. Analysts polled by LSEG had expected earnings of 25 cents a share and revenue of $311 million.

Read the full list here.

— Brian Evans