Wake Up Wall Street (SPX) (QQQ): Markets remain nervous on geopolitical tensions
Here is what you need to know on Friday, February 18:
Equity markets remain in a state of flux as geopolitical tensions remain the dominant theme. Yesterday's news of a kindergarten being hit by artillery fire in Ukraine was enough for investors to ditch riskier assets and head for the hills of safety. This saw the usual suspects – gold, the dollar and bonds – all trade higher. At least the bond flight did tick yields lower with the US 10-year back below 2%. There might be a slight relief rally today as Russian and US foreign ministers are due to meet next week.
The dollar got yet more impetus from Russian separatists moving out to Russia and is at 1.1355 now versus the euro. Oil is down at $89.55, and gold is flat at $1,897. Bitcoin is at $40,400, a good touch lower from yesterday.
European markets are higher: Eurostoxx +0.4%, FTSE +0.4% and Dax is flat.
US futures are higher: Dow and S&P are both +0.2%, while NASDAQ is +0.4%.
Wall Street (SPY) (QQQ) Top News
Intel (INTC) says it would be interested in buying Arm as part of a consortium if one formed.
Norton (NLOK) delays the completion date for the purchase of Avast.
Draft Kings (DKNG) beats on EPS and revenue, but the outlook was weak, down 13% premarket.
Roku (ROKU): weak outlook sees shares fall 26%.
Redfin (RDFN) down 26% on earnings.
Deere (DE) beats on top and bottom lines and raises forecasts.
Blooming Brands (BLMN) up 6% on earnings.
Shake Shack (SHAK) revenue is in line, while EPS beats estimates. Issued poor forecasts, so shares down 15%.
DropBox (DBX) down 6% on revenue and EPS beat, but guidance was weak.
Virgin Galactic (SPCE): Chamath Palihapitiya steps down from board.
Upgrades and Downgrades
Source: Benzinga Pro
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Author
Ivan Brian
FXStreet
Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.
