🤞 Nvidia nerves ruined your day yesterday

🎁 But can the chipmaker make up for it today?

Author

Wyatt from Alts
February 21, 2024

I’m coming at ya from Jalisco, Mexico this week, so your S&I issues may be with you slightly later than usual.

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📰 Market Headlines

*past 24-hour performance

  • Nvidia's pre-earnings jitters led a tech sector retreat yesterday dragging down the Nasdaq, S&P 500, and Dow Jones.

    • Nvidia shares dropped 4% as investors cashed out or traded options.

    • Analysts are optimistic and expect up to a 234% revenue increase in today's earnings report.

  • A majority of economists forecast the Federal Reserve may slash rates in June, according to a new poll. The CME tracker tool is more optimistic, implying a nearly 80% chance of a cut by June. It’s 66% on Kalshi.

    • The Fed will release its January minutes today.

  • Amazon will replace Wallgreens in the Dow next week.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

😱 Fear and Greed Index

🧠 What do you think?

One more chance to have your say before earnings today.

🤖 Will Nvidia:

Login or Subscribe to participate in polls.

🎤 What you said last time

What almost everyone agrees is that almost everyone forgets 🧠 

📈 Trends you need to know

Switching things up, I used DeepSearchLabs to generate today’s insight.

This chart from DeepSearchLabs shows Nvidia’s share price tracked against sentiment. The two finally intersected as sentiment dipped slightly last month, but generally speaking, they’ve been moving in lockstep.

📊 Stocks

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Winners and losers

Earnings, upgrades, and acquisitions

  • Palo Alto Networks stock plunged 21% after its EPS beat forecasts but its Q3 revenue guidance disappointed.

  • RingCentral made strides towards profitability, yet its stock dipped 6.5% on light upcoming quarter guidance.

  • SolarEdge shares tumbled 11% on bleak Q1 guidance, blaming high-interest rates and low demand.

  • Diamondback Energy dazzled with a Q4 profit of $960 million. Stock up 1.3%.

Market movers

  • Discover Financial soared 12% after Capital One's $35 billion buyout deal.

  • FuboTV sued ESPN, Fox, and Warner Bros. Discovery over their "joint venture" sports streaming service. FuboTV shares have dropped 30% since the deal was announced on Feb 6.

  • Amazon replaced Walgreens on the Dow Jones, sending the latter’s shares tumbling.

  • Intel climbed 2.1% while other tech giants suffered, driven by potential $10 billion CHIPS Act funding.

  • Tesla faces local opposition to its German plant expansion.

  • Occidental Petroleum might sell Western Midstream Partners to slash its $18.5 billion debt; shares rose 5.7%.

Ideas, trends, and analysis

  • "Black Sheep" stocks with unique angles.

  • Seven growth stocks that could shine in bullish sentiment.

  • JPMorgan predicts a 40% rally for this innovative healthcare stock.

  • Goldman Sachs and UBS elevated their S&P 500 year-end targets, forecasting an 8% rise.

  • Lithium prices tumbled over 80% amid EV demand slowdown. Insiders expect a rebound by 2027.

🌍 Global Perspectives

  • 🇦🇺 Australia will double the size of its navy.

  • 🇺🇸 The US vetoed a UN resolution for an immediate Israel-Hamas ceasefire, pushing instead for a temporary ceasefire linked to the release of hostages.

  • 🇪🇸 Spain's birth rate has dropped to its lowest level since records started in 1941.

  • 🇻🇳 Vietnam is set to expand its wealth by 125% over the next decade, faster than any other country.

  • 🇹🇷 Turkey detained six individuals suspected of spying on local Uyghurs for China.

  • 🇬🇭 Ghana plans to process its iron ore locally by 2027, shifting from raw exports to value-added steel production.

  • 🇷🇺 President Putin declared Russia has no intention of deploying nuclear weapons in space.

📊 Income

📊 Crypto

  • U.S. ETF approval has improved the international perception of Bitcoin.

  • Ether flew past $3,000 for the first time in nearly two years before correcting below 2,900.

  • A trader who called the May 2021 crash predicted Bitcoin will reach $180,000 by 2025.

🧠 Errata

  • The first human Neuralink patient successfully controlled a mouse with just their thoughts. A computer one, not a live one.

  • Sam Bankman-Fried's first prison photo shows a changed man. Fellow inmates called him a "good guy" who didn't "snitch".

  • 100 billion gallons of toxic sewage water flowed over the U.S-Mexico border in the past 5 years.

  • Unmarried friends are teaming up to buy houses, up 21% year-over-year.

  • U.S. casinos bagged a record $66.5 billion last year.

  • Ozempic is dirt cheap in China.

📺 What to Watch Today

That’s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt