Marcus Today Pre-Market Podcast – Friday 23rd February
The S&P 500 and the Dow reached record highs overnight, driven by growth and tech stocks following Nvidia's strong earnings and outlook. The Dow Jones rose by 4567 points (+1.18%), the S&P 500 gained 2.11%, and the NASDAQ Composite added 2.96%. Nvidia's optimistic Q1 revenue forecast and outperformance in Q4 revenue pushed its shares higher, up 16.4% along with other AI-related companies like AMD +10.7%, Super Micro Computer +32.87%, and Arm Holdings +4.16%. The Philadelphia Semiconductor Index, along with major tech and growth stocks such as Alphabet, Microsoft, and Meta, also saw significant gains. In contrast, EV startups Rivian and Lucid fell 25.6% and 16.75%, respectively, as they forecasted lower-than-expected 2024 production due to a demand slowdown.
ASX to rise. SPI Futures up 32 points (+0.42%).
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