Did you know that Walmart is the world's largest company by revenue? As of recent reports, Walmart earns over $600 billion in annual revenue, which is higher than the GDP of many countries, including countries like Sweden and Belgium! The company also employs over 2 million people globally, making it one of the largest private employers in the world.
Market Wrap
On Monday, February 10, 2025, U.S. stock markets showed resilience amid significant economic and political developments. The S&P 500 rose by 0.7%, the Dow Jones Industrial Average gained 0.4%, and the Nasdaq Composite advanced 1%. A key driver of the day's market moves was President Trump's announcement of a 25% tariff on all steel and aluminum imports. While tariffs often raise concerns over inflation and trade tensions, investors interpreted this move as largely tactical. Stocks of U.S. steel producers, like Cleveland-Cliffs, saw sharp gains on the news.
There were no major economic data releases during the day. However, investors are bracing for several critical reports and events later in the week. Federal Reserve Chair Jerome Powell is scheduled to testify before Congress on Tuesday and Wednesday, where his outlook on inflation, interest rates, and the economy will be closely scrutinized. In addition, the Consumer Price Index (CPI) report on Wednesday, the Producer Price Index (PPI) on Thursday, and retail sales data on Friday are expected to provide further insight into inflation and consumer spending trends.
Treasury yields remained steady, with the 10-year yield holding at 4.50%, indicating that bond markets are cautiously monitoring inflation risks but not yet signaling heightened concern. Meanwhile, gold prices reached record highs as some investors moved toward safe-haven assets. Despite these geopolitical and macroeconomic factors, U.S. equity markets remained strong, driven by optimism around corporate earnings and gains in major technology stocks.
NVIDIA's stock rose nearly 3%, leading a rally in semiconductor stocks. The surge was driven by strong sales reports from its partner TSMC and an analyst upgrade from Evercore ISI ahead of its upcoming earnings report.
Meta Platforms extended its winning streak to 16 consecutive sessions, closing up 0.4%. The rally is attributed to strong fourth-quarter earnings, where revenue rose 21% to a record $48.4 billion, with net income reaching $20.8 billion.
Tesla's stock fell 3% to $350.73 after data from China revealed an 11.5% year-over-year decline in January sales. Analysts at Stifel also lowered their price target, citing concerns about Tesla's performance in the Chinese market.
McDonald's stock rose 4.8% despite adjusted fourth-quarter earnings missing estimates. Investors focused on the company's better-than-expected global same-store sales growth, particularly in international markets.
BP's U.S.-listed shares jumped 6.7% after reports that Elliott Investment Management has built a stake in the company. The activist investor is pushing for performance improvements, though the size of Elliott's stake remains undisclosed.
ON Semiconductor's stock fell 8.2% after reporting fourth-quarter earnings that missed expectations. Weak guidance and declining sales across all three business segments contributed to the negative reaction.
Super Micro Computer's stock jumped 17.6% ahead of a scheduled business update. Investors are optimistic about the company's progress in filing its delayed annual report and its overall business outlook, contributing to the stock's rise.
GameStop's stock jumped 9.8% following a social media post by CEO Ryan Cohen. The post, which featured a picture with MicroStrategy's Michael Saylor, fueled speculation about a possible Bitcoin-related initiative.
Monday.com's stock surged 26% after reporting strong earnings of $1.10 per share, surpassing expectations of 79 cents. The company also announced the release of its AI enterprise service management platform, contributing to investor optimism. The platform aims to provide automated workflow and productivity solutions, driving further adoption across industries.
Cleveland-Cliffs' stock surged 18% following President Trump's announcement of a 25% tariff on all steel and aluminum imports. As a major U.S. steel producer, Cleveland-Cliffs is expected to benefit from reduced competition from foreign imports due to these tariffs.
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