Briefing

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Market Snapshot

  • Dow: +307.65 (0.63%) to 49481.04
  • Nasdaq: +288.40 (1.26%) to 23152.09
  • SP 500: +58.06 (0.84%) to 6948.12
  • NYSE: Advancers 1578, Decliners 1140, Volume 1.22 bln
  • Nasdaq: Advancers 3165, Decliners 1557, Volume 8.51 bln

Industry Watch

  • Strong: Information Technology, Communication Services, Financials
  • Weak: Energy, Industrials, Materials, Consumer Staples, Real Estate

Moving the Market

  • Solid gains in mega-cap and tech names ahead of NVIDIA's (NVDA) earnings.
  • Continued bargain hunting across software names.
  • Broader market mixed.
  • Pronounced weakness in homebuilders after Lowe's (LOW) disappointing guidance.
  • Overall Market: Stock market had another solid session, with tech leadership pushing S&P 500, Nasdaq Composite, and DJIA higher. S&P 500 closed above its 50-day moving average.
  • Information Technology Sector: Led the advance (+1.8%).
    • iShares GS Software ETF (+3.1%) saw gains.
    • AppLovin (APP) a standout; Salesforce (CRM) and Snowflake (SNOW) traded higher ahead of earnings.
    • Workday (WDAY) turned early loss into gain after topping estimates despite cautious guidance.
  • NVIDIA (NVDA): Captured a nice gain ahead of its highly anticipated earnings report, with analysts predicting a strong report.
  • Mega-Caps: Played a key role in index-level gains, with the S&P 500 Equal Weighted Index lagging the market-weighted S&P 500.
  • Communication Services: Flat overall but saw strength in Netflix (NFLX).
  • Consumer Discretionary: Leadership from Tesla (TSLA) and Amazon (AMZN) outweighed broader weakness.
  • Homebuilders: Names like Lennar (LEN) were weak following Lowe's (LOW) cautious guidance.
  • Financials Sector: Captured the second widest gain (+1.7%) as investors bought into recent weakness in major banks like Citigroup (C) and Capital One (COF).
    • Coinbase Global (COIN) posted a monster gain after announcing expansion into stock trading.
    • Nearly 8% rebound in Bitcoin also boosted Robinhood Markets (HOOD).
  • Lagging Sectors: Industrials (-0.8%) and Consumer Staples (-0.6%).
  • Broader Market: Russell 2000 (+0.4%) and S&P Mid Cap 400 (+0.4%) reversed early weakness.
  • U.S. Treasuries: Recorded modest losses; 2-year yield settled up 1 bp to 3.47%, 5-year up 2 bps to 3.62%, 10-year up 2 bps to 4.05%.
  • YTD Performance: S&P Mid Cap 400: +8.6%, Russell 2000: +6.3%, DJIA: +3.0%, S&P 500: +1.5%, Nasdaq Composite: -0.4%.
  • Data: Weekly MBA Mortgage Index rose 0.4% (Refinance Index up 4.1%, Purchase Index down 4.7%).
  • After-Close Focus: All eyes on consequential earnings reports, especially NVIDIA, Salesforce (CRM), and Snowflake (SNOW).
  • Individual Stock Movers:
    • Axon (AXON): Jumped 18% after Q4 beat.
    • Western Digital (WDC): Up 7.23%.
    • Super Micro Computer (SMCI): Up 6.9% after announcing new enterprise AI platform.
    • GoDaddy (GDDY): Fell 15% on weaker Q1 and FY26 revenue guidance.
  • Gold: Settled $49.90 higher (+1.0%) at $5,226.20/oz due to safe-haven demand from tariff uncertainty and geopolitical risk, plus a softer dollar.
  • U.S. Dollar Index: Down about -0.2% to $97.70.

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