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Together with StockMarketNerd:

Market Headlines 👀 

• Apple (AAPL) prepares an AI tool to directly compete with Microsoft Co-pilot.

• Apple (AAPL) will be hit by a €500m fine by the EU for music streaming violation.

• Capital One Financial Corp (COF) announces they will acquire Discover Financial for $35.3b in an all stock deal.

• Neuralink Elon Musk brain technology startup releases promising results as first patient implant has been a success and patient is able to control a mouse just by thinking.

• Adobe (ADBE) launches a new AI assist tool to search and summarize PDF documents.

• Nvidia (NVDA) announces it will host their flagship GTC conference from March 18-21st. Company reports earnings tomorrow.

• Walmart (WMT) announces it will acquire TV maker Visio $2.3b to help grow its ad business.

Earnings 💸

• Walmart (WMT)

  • EPS: $1.80 beats (exp. $1.65)

  • Revenue: $173.4b beats (exp. $169.3b)

• Home Depot (HD)

  • EPS: $2.82 beats (exp. $2.77)

  • Revenue: $34.79b beats (exp. $34.67b)

• Paoloalto Networks (PANW)

  • EPS: $1.46 beats (exp. $1.30)

  • Revenue: $2b beats (exp. $1.97b)

Newsletter Rec:

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

Markets continue to catch up to Fed rhetoric and dot plots. The debate is now around May and whether disinflationary trends are enough for preemptive rate cuts. (Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D)).

Based on past analogs, the run up in tech over excitement of cloud and AI spending appears to have more room to run. (Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D)).

Market Preview 🎞️

• Wednesday, February 21st: MBA mortgage applications; January US Fed FOMC meeting minutes

• Wednesday earnings: Nvidia (NVDA), Rivian (RIVN), Etsy (ETSY), and Dutch Bros (BROS)

• Thursday, February 22nd: Weekly jobless claims; Existing home sales

• Thursday earnings: Block (SQ), Moderna (MRNA), Mercado Libre (MELI), Carvana (CVNA), Wayfair (W), Fivver International (FVRR)and Booking Holdings (BKNG)

Enjoy reading?👇

That’s all for today, folks! We’ll be back around the same time Thursday with a curated list of important news, economic data and market highlights. 

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