The Dow Jones opened up by 0.3%, the S&P 500 by 0.1%, and the Nasdaq by 0.1%.

Software stocks soared, with Datadog rising 13.4%, Shopify rising 4.0%, and Unity rising 4.2%. Philips rose 7.7%, exceeding expectations for Q4 sales and profits. Coca-Cola fell 1.0%, with Q4 net revenue falling short of expectations. ON Semiconductor dropped 3.5%, with Q4 revenue declining by 11%. BP fell 4.6%, suspending stock buybacks.