Marcus Today Pre-Market Podcast – Wednesday 21st February
Wall Street began the holiday-shortened week lower in a quiet day of trade, with the S&P 500 down 0.6%, NASDAQ off 0.92%, while the Dow Jones hovered around flatline (-0.17%). NASDAQ weighed down by Nvidia, tumbling 4.4% ahead of its earnings report, while small-caps Russell 2000 fell 1.41%, erasing last week's gains. US Treasury yields edged lower with the yield curve steepening, with the spread between 10Y and 2Y US Treasury yields widening to -33.5 basis points. Among stocks, Walmart rose to a record high, up 3.2%, on positive forecasts and raising its annual dividend by 9%. Home Depot finished flat despite a disappointing 2024 outlook, while Capital One announced a $35.3bn all-stock deal to acquire Discover Financial Services (+12.6%).
ASX to fall. SPI Futures down 21 points (-0.28%).
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