Wake Up Wall Street (SPY) (QQQ): Russia tensions have not eased, but stock market has
Here is what you need to know on Thursday, February 17:
Equity markets remain cautious after a day of conflicting reports regarding Russian troop movements on Wednesday. Initial enthusiasm and equity gains on Russia confirming some troops had left the Ukrainian border were reversed on NATO and the US contradicting this with reports that Russia had sent additional troops to the border. Tensions and so risk aversion has remained high this morning with reports of some artillery fire in rebel-occupied territory. Geopolitical events overshadowed the Fed's relatively benign minutes released last night, which gave equity markets a boost and slightly moved bond markets to a less hawkish stance.
Nvidia showed us last night that the growth story is over for equities and we are now in a very different investing universe. Nvidia beat on top and bottom lines and delivered upbeat guidance that was ahead of forecasts. The stock, however, fell 3%.
Today the dollar is largely flat as position-taking is increasingly limited. It sits at 1.1370 now versus the euro. Gold is higher at $1,886, while Oil is back up to $92. Bitcoin is lower at $43,200. Yields have fallen somewhat in Europe this morning.
European markets are lower: Eurostoxx -0.1%, FTSE -0.4%, and Dax is flat.
US futures are lower: S&P and Dow are both -0.2% and the NASDAQ is -0.4%.
Wall Street Stock News
Walmart (WMT) is up 2% on strong earnings.
Visa (V) and Amazon (AMZN) end dispute over fees.
Airbnb (ABNB) says flexible working is leading to longer-term bookings.
Roblox (RBLX): Cathie Wood of ARK Invest buys Roblox on the dip.
Nvidia (NVDA) beats on top and bottom lines, increases guidance, but stock falls.
Palantir (PLTR) beats on revenue, but EPS misses by 50%.
DoorDash (DASH) up 25% on strong earnings.
Fiverr (FVRR) up 10% on earnings.
Marin Software (MRIN) up 20% on Tik Tok integration-Benzinga.
Fastly (FSLY) down 30% on earnings.
Boston Beer (SAM) is down 7% on earnings.
Cisco (CSCO) beats on EPS and revenue.
TripAdvisor (TRIP) down 7% on earnings.
AppLovin (APP) down 14% on earnings.
Cheesecake (CAKE) up 6% on earnings yesterday and price target increases from several brokers.
Amplitude (AMPL) down 40% on earnings.
Plug Power (PLUG) acquires Joule.
Upgrades and Downgrades
Source: Benzinga Pro
Economic releases
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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.
