Indices
- Dow 43,428, -1,118or -2.51%.
- Nasdaq 19,524, -502or -2.51%.
- S&P 6,013, -101or -1.65%.
- MSCI EAFE 2443.30, -4.38 or -0.18%.
- USD10Y 4.42%, -5.2bp or -1.16%.
- WTI Crude $70.28/bbl, -$0.29 or -0.41%.
Profit Taking During Holiday Shortened Week
A holiday shortened week saw the markets trading water until Thursday when profit taking began on Walmart’s (WMT) announcement that their 2025 earnings would be lower than Street estimates. The selling continued Friday with the release of a very weak February Consumer Sentiment report which saw confidence fall 10% from January’s report to its lowest level since late 2023.
The Upcoming Week: Feb 24 – Feb 28
Friday’s Personal Consumption Expenditure highlights a light week of economic data. The corporate earnings calendar includes Zoom (ZM), Home Depot (HD), Lowe’s (LOW), Nvidia (NVDA), and Salesforce (CRM).
Economic Calendar
- Monday – N/A. Earnings: Zoom Communications (ZM).
- Tuesday – February Consumer Confidence. Earnings: Home Depot (HD).
- Wednesday – N/A. Earnings: Lowe’s (LOW), Nvidia (NVDA), Salesforce (CRM).
- Thursday – Initial Jobless Claims, Q4 GDP (2nd reading). Earnings:N/A.
- Friday – January Personal Consumption Expenditure. Earnings: N/A.
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Disclaimer: This is not a recommendation to buy or sell any of the securities listed above. I personally, or a family member whose account I control, have positions in the following securities/assets...Bitcoin, Ethereum, Solana, ACHR, BITB, NVDA, and RIVN.