Adobe is set to report earnings with the options market expecting a 7.5% move. A bull put spread strategy is suggested to profit within the expected range, with a 22% return if the stock remains above a certain level. However, it’s emphasized that options trading carries high risk and is suitable only for those with a high-risk tolerance.
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Stock Market Today: Jobs Report Boosts Major Indexes, Nvidia Soars
The stock market surged as the February jobs report exceeded expectations, with the Nasdaq and S&P 500 hitting record highs. Nvidia’s stock soared after a price target increase, while small caps and midcaps led the early gains. Several AI-related stocks, including Salesforce and Advanced Micro Devices, made notable moves, while Costco and MongoDB faced challenges after their earnings reports.
read moreU.S. Stocks Close Higher, Nasdaq Hits Record High Amid Inflation Concerns
U.S. stocks closed higher, with the Nasdaq hitting a new record high after a late-session push. The Federal Reserve’s preferred inflation gauge matched estimates, but showed a significant increase, raising concerns about persistent inflation. Market expectations for rate cuts edged up slightly, with the odds of a 25 basis point rate cut in May increasing to about 23%. Treasury yields were mostly lower, and Salesforce’s quarterly results and guidance were well-received by Wall Street.
read moreAutodesk Exceeds Q4 Earnings and Sales Expectations, Stock Rises 7%
Autodesk’s fourth-quarter earnings and sales surpassed expectations, leading to a nearly 7% increase in stock value in after-hours trading. The company reported adjusted earnings of $2.09 per share on sales of $1.47 billion, with a positive outlook for the current quarter. Prior to the earnings report, Autodesk stock had gained 1% in Thursday trading and holds an IBD Composite Rating of 94 out of 99.
read moreStock Market Update: Birkenstock, Snowflake, Salesforce, and Okta Performance
Okta Inc. (OKTA) reported strong quarterly earnings and raised its annual sales outlook, leading to a 27% surge in its stock. Meanwhile, Birkenstock’s shares fell after its fiscal 2024 first-quarter earnings met expectations but revenue exceeded estimates, and Snowflake Inc. (SNOW) shares plunged 20% following the appointment of a new CEO and disappointing earnings guidance. Additionally, Salesforce (CRM) saw its stock climb after beating fourth-quarter earnings but providing a lower-than-expected sales forecast.
read moreEquity Futures Dip Ahead of Key Economic Data Release
U.S. equity futures edged lower ahead of key economic data release, with investors eyeing the Fed’s preferred inflation gauge. A bigger-than-expected gain could impact the Fed’s rate projections, while a downtick may signal movement towards the 2% inflation target, influencing Treasury bond yields and stock prices. Stocks are set for a modestly weaker open, with individual stocks like Snowflake and Salesforce experiencing notable movements. In global markets, European and Asian stocks saw mixed performance.
read moreStock Market Update: Inflation Data Impact on Dow Jones and Tech Stocks
Stocks wavered as Dow Jones remained flat, while S&P 500 and Nasdaq climbed. Inflation data for January met expectations, but initial jobless claims rose. Some stocks plunged on weak outlooks, while others, like Duolingo and Pure Storage, soared on strong forecasts and earnings surprises. Meanwhile, Best Buy, Zscaler, Veeva, and Celsius Holdings showed positive movements in the market.
read moreFebruary Market Overview: Stocks Surge, Bitcoin Nears All-Time High
Wall Street is looking positive as the Federal Reserve’s preferred inflation gauge meets expectations, leading to lower bond yields and a potential boost for stocks. Bitcoin is nearing its all-time high, driven by a 50% jump in demand this month. Meanwhile, companies like Salesforce and Duolingo are experiencing contrasting fortunes, with the former exceeding expectations and the latter facing challenges.
read moreKey Economic Events: Inflation Data, Tech Earnings, Bitcoin, and Beverage Sales
The Federal Reserve’s preferred inflation gauge is expected to show an acceleration in January, reflecting the recent hot Consumer Price Index data. Dell Technologies is anticipated to report a decline in revenue and profit, with a focus on its Nvidia partnership. Snowflake’s shares plunged after its CEO’s sudden retirement and disappointing guidance, while Salesforce’s weak outlook weighed on its stock. Anheuser Busch InBev suffered a U.S. revenue slump, with Bud Light sales taking a toll. Bitcoin hovered near the $63,000 level, buoyed by increased trading activity and an upcoming supply reduction event.
read moreStock Futures Fall Ahead of Inflation Report, Snowflake CEO Retires
Stock futures fell ahead of an important inflation report, with the Dow, S&P 500, and Nasdaq 100 all showing declines. Snowflake Inc. announced the retirement of its CEO, leading to a significant drop in its shares. Meanwhile, Paramount Global reported strong streaming sector trends, and Republican Mitch McConnell revealed his departure from the Senate leadership post. Oprah Winfrey is leaving the board of WW and donating her stock to the National Museum of African American History and Culture.
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