The Day Ahead

• COMING UP

  • U.S. economic radar:
    • Producer Price Index (PPI) for January: expected to rise 0.3% (0.5% in Dec), annually up 2.6% (3% prior).
    • Core PPI (ex-food/energy): expected to rise 0.3% (0.7% in Dec), annually up 3%.
    • Construction spending (December): forecast to increase 0.3% (0.5% in Nov).
    • Chicago PMI for February: likely 52.8 (54 prior).

• U.S. TOP NEWS

  • Nvidia shares fell despite strong earnings, investor concerns on returns.
  • Rare earth shortages worsen in US aerospace and semiconductor firms.
  • Warner Bros Discovery's TV decline pressures Netflix deal.
  • Broadcom expects to sell 1 million 3D stacked chips by 2027.
  • Walmart agrees to pay $100 million to settle deceptive earnings charges (FTC).

• MARKET RECAP AT 4 pm ET

  • S&P 500 and Nasdaq ended lower due to Nvidia earnings.
  • Treasuries gained on Iran-related tensions.
  • Spot gold rose; dollar edged higher.
  • Oil prices were little changed.

• INSIGHT AND ANALYSIS

  • Nvidia's CEO focuses on CPUs, preparing for competition with Intel and AMD.
  • SpaceX’s nascent monopoly faces durability test with post-IPO rivals.

• WEALTH NEWS

  • US weekly jobless claims rose slightly; unemployment rate likely unchanged in February.
  • Berkshire CEO Abel to outline post-Buffett strategies.
  • Carlyle targets $200 billion in new capital by 2028.
  • J.M. Smucker adds two directors after discussions with activist Elliott.
  • Rubric Capital warns investors about some private credit firms masking leverage.