Live Nasdaq Composite: Mixed Markets Heed Economic Warning Signals
Quick Read
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Big Tech stocks lost $1T in market capitalization last week.
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Alphabet is raising approximately $15B through bonds to fund AI capital spending.
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Apollo Global is nearing a $3.4B lending deal for Nvidia chips to lease to xAI.
Live Updates
Coinbase Bets
Digital asset trading platform Coinbase (Nasdaq: COIN) is expected to report its quarterly earnings on Thursday. Online betting site Polymarket suggests Coinbase has a 68% chance of surpassing estimates of approximately $1.01 per share and $1.85 billion in revenue. COIN stock is up 0.40% today.
The Nasdaq Composite is now gaining 1% on the day.
Positive Sentiment
Tech gainers include Nvidia (Nasdaq: NVDA), up 3.4%, Broadcom (Nasdaq; AVGO), up 3.5%, and Oracle (Nasdaq: ORCL), soaring 9.2%, lifting the Nasdaq Composite to a 1% gain.
The Dow Jones Industrial Average has clinched its latest all-time high, hovering above the psychologically sensitive 50,000 level.
Economic Indicators
The markets are bracing for the January unemployment report, due out on Wednesday, as well as the latest reading on inflation when CPI data is revealed on Friday.
The Nasdaq Composite has reversed earlier declines, turning slightly higher.
This article will be updated throughout the day, so check back often for more daily updates.
With the highly watched jobs report due out later this week, investors and traders are bracing for more warning signals from the economy. White House official Kevin Hassett has warned that January’s jobs numbers are likely to reflect some weakness. In the markets, after shaving off $1 trillion in market capitalization in last week’s market, Big Tech stocks are giving a mixed showing. Oracle (Nasdaq: ORCL | ORCL Price Prediction) is reclaiming lost ground, tacking on 8.5% today and trimming its year-to-date decline to 20%. The three major stock market averages are seeing red, including a fractional decline in the Nasdaq Composite.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 50,007.45 Down 108.22 (-0.22%)
Nasdaq Composite: 23,000.72 Down 30.50 (-0.13%)
S&P 500: 6,927.28 Down 6.60 (-0.10%)
Market Movers
Apollo Global Management is within a stone’s throw of inking a $3.4 billion lending transaction for Nvidia’s (Nasdaq: NVDA) white-hot chips that it would in turn lease to Elon Musk’s xAI, according to reports.
After revealing its multi-billion-dollar AI capex plans, Google parent Alphabet (Nasdaq: GOOGL) is reportedly turning to the debt capital markets to attract approximately $15 billion to its coffers through a bond sale.
Privately held OpenAI is growing hand over fist, growing at a monthly clip north of 10%, according to CEO Sam Altman cited by reports.
After teaming up with MrBeast for a game-themed Super Bowl commercial, Salesforce (NYSE: CRM) stock is down 1%.
Micron Technology is weighing on the markets today, falling 2.6% possibly on heightened competition for chips out of Samsung.
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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