🚒 More Boeing planes and tires fall out of the sky

🏢 While the jobless rate holds steady

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📰 Market Headlines

*past 24-hour performance

  • President Biden's State of the Union argued US economic recovery post-pandemic is the "greatest comeback story never told."

  • Tech stocks lead the charge, pushing the S&P 500 and Nasdaq to new highs.

  • Fed Chair Jerome Powell signaled the Fed may soon cut interest rates.

    • “We’re waiting to become more confident that inflation is moving sustainably at 2%. When we do get that confidence, and we’re not far from it, it’ll be appropriate to begin to dial back the level of restriction,”

    • “I think we’re in the right place.”

  • US jobless claims held steady, with unemployment constant at 3.7%.

  • European markets reflected this optimism, with the Stoxx 600 breaking past the 500-point level for the first time ever.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

Forecasts via Kalshi, the prediction market.

😱 Fear and Greed Index

🧠 What do you think?

How long until a Boeing airplane kills someone?

Login or Subscribe to participate in polls.

🎤 What you said last time

3.7% and steady.

📈 Trends you need to know

Japan’s cherry blossoms are an unstoppable tourism juggernaut.

📊 Stocks

Want to invest like Buffet? With Public.com, you can emulate Berkshire Hathaway’s portfolio with just a few clicks.

Winners and losers

Earnings, upgrades, and acquisitions

  • Gap shares surged 5% as Old Naxy experienced growth for the first time in over a year.

  • Broadcom shares dropped by 2% after missing revenue targets.

  • MongoDB exceeded quarterly earnings and sales expectations but experienced a 9% drop in after-hours trading.

  • Docusign soared 13% after an earnings beat and an 8% year-over-year revenue bump.

  • American Eagle announced a 65% increase in adjusted earnings, yet its stock price dropped 1.9%.

  • Ciena's first-quarter profit beat estimates, but weak revenue guidance led to a 14.7% drop in stock price.

  • Big Lots reported a 7.2% decline in revenue year-over-year; shares are stable.

Market movers

  • Rivian shares surged 13% following the unveiling of three new vehicles and a $2.25 billion savings plan.

  • The U.S. saw 84,638 job cuts in February, a 3% increase from January.

  • The U.S. House panel unanimously approved a bill to force ByteDance to divest TikTok or face ban.

  • Novo Nordisk's shares surged after promising drug trial data, zooming past Tesla to make it the 12th most valuable company.

Ideas, trends, and analysis

🌍 Global Perspectives

  • 🇨🇳 China's exports soared 7.1% in January and February.

  • 🇾🇪 A Houthi missile attack on a Red Sea merchant ship killed three seafarers.

  • 🇺🇸🇵🇸 President Biden announced the U.S. will construct a port in Gaza for humanitarian aid.

  • 🇷🇺🇬🇷 A Russian missile strike nearly triggered NATO's Article 5.

  • 🇭🇹🇰🇪 A UN-backed security mission in Haiti faces new challenges due to legal roadblocks in Kenya.

  • 🇵🇸 Gaza cease-fire deal unlikely as Hamas leaves Cairo without an agreement.

  • 🇵🇹 Portugal's general election is uncertain amidst corruption and economic issues.

📊 Income

  • Tax-free bonds ready to soar with potential Fed rate cuts.

  • These two hidden gems feature yields up to 11.4%.

  • Enbridge bolsters its dividend growth engine with $500 million in new investments.

  • Capital One, a Buffett pick, is still a bargain despite a 25% surge.

📊 Crypto

  • Tesla's Bitcoin wallet shows an increase of 1,789 BTC.

  • Spot Bitcoin ETFs attracted $8.5 billion since their January debut.

  • JPMorgan claims Bitcoin has surpassed gold in investor portfolios.

  • Bitcoin miner revenue hit its second-highest daily total at $75.9 million.

  • Superstate leads a new alliance to shake up Treasury trading with blockchain.

🧠 Errata

  • Crying children and grown men alike attempt to save TikTok from a potential Congress ban.

  • Sam Altman’s ambition has gone nuclear, with plans for fusion-powered AI and a $7 trillion chip overhaul. [Ed: I’m not impressed unless he’s using cold fusion]

  • Chernobyl's worms are immune to radiation, leaving scientists to wonder what else these super-bugs are capable of.

  • A United Airlines flight loses a tire after takeoff, while another bursts into flames.

📺 What to Watch Today

John Oliver says Boeing’s decline started with too much focus on stock price & buybacks and not enough on … planes that fly.

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

Cheers,

Wyatt

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