The Dow Jones Industrial Average opened up 0.4%, the S&P 500 rose 0.3%, and the Nasdaq increased by 0.6%.

Moderna rose by 7.8% as the patent dispute is about to be resolved. Macy's increased by 6.5% with record high sales in Q4. Cloud computing company CoreWeave rose by 5.7% as Perplexity signed a contract to use its data centers. Evolus surged by 22.5% as Q4 revenue growth achieved breakeven. Gitlab fell by 11.8% with mixed results in Q4, and its performance guidance for the current fiscal year is below expectations.