Our road map does begin with, well, what else . Big tech, chips, and a. I. , Semiconductor Stocks are coming off what was the second worst week of the year, and of course, mr. Jensen huang is set to deliver what is a very hotly anticipated keynote speech that is later today. Were also keeping an eye on shares of apple and alphabet. Theyre both up ahead of the open, particularly alphabet. The tech giants reported by bloomberg to be in talks to license googles a. I. Engine, gemini. That would be for the iphone. And oracle shares are surging more than 10 in just the last week. Again, why . Well, a. I. Progress. Ceo chuck cisco shares. Cisco shares. S cisco. You know, i dont sometimes, jim, you read it if you put it there, he will read it. And youre right. And oracle had a great week, and shes on the board of disney. Lets go there. Yeah. Thanks, guys. I was, like, what . Hm. Yeah, we got Chuck Robbins coming up. Jim, youll partake in that. Theyre closing the splunk deal so thats coming up
Expecting from that Earnings Report out tomorrow. Im melissa lee, this is fast money. On the desk tonight, tim seymour, bono win, dan nathan and chrisser is roan we start off with the wild ride on wall street today the dow is down 466 points at its low but finished 160 points up the s p 500 shedding half a percent. The vix mirroring the markets move, hitting 18 for the First Time Since may before pulling back some, still higher, closing above the 16 mark. But one sector stayed under pressure all day, than would be software stocks. The igv closing below its 50day moving average for the first time in more than three months one big drag on the group, data dog, the Cloud Computing company slashing guidance, seeing shares drop 20 thats its worst day since the start of the pandemic. So, did the news pull a pal over the whole a. I. Trade add that into your action, dan that was trouble its less about a. I. And more about a rising tide lifting all boats. When you think of the consumption space
Lauren goodwin, senior director of multiasset mfrl strategy. Lauren, good to see you. Good to be here thanks for having me, mike want to go back to just about a month ago right before the previous cpi report, right july 12th. The s p 500 within 1 of where it is right now and the 10year treasury yield at 4 where it is right now. When we got it, it was a bit of a kickstart for the late july rally and now weve given it back what is the status right now in your mind of the landing and the economic scenario and how much of that the market can benefit from or potentially have the market learned pretty good information from the last Inflation Report from june that we saw in july which was the disinflationary process has moved from an early stage to a more stable one and that is one where the fed is not done hiking and investors can be excited about the potential for a soft landing. I think its a little bit of a false start because until unemployment claims start durably rising, that narrative
Good evening the top stories this hour. Bloomberg learns the u. S. Is set to limit its scope. U. S. Stocks slip on worries about the economy and financial system. Moodys downgrades 10 smaller lenders. They did finish off session lows, the s p 500 lost more than 1 at one point and it recouped half of the losses. We had a haven demand not to mention moves despite the fact we are bracing for the 100 billion wave of options but have to be digested this week. Take a look at crude prices down. 2 after gaining ground in the new york session. We heard from the ukrainian president talking about retaliation and russia continues to block the reports. Its all about the after our session. Look at the bank because we are looking at huge losses. That overshadowed better than expected outlook for earnings that had seen the stock rally earlier on. Supply Chain Disruption said ease, but they expect heavy losses to continue as a boost production and we work plunging. Doubt about their ability to continue
Dow advancing 47 points. S p gained. 52 . But the nasdaq jumped. 9 . Hallelujah with todays strength its important to note that the nasdaq and s p both finished the month of february at record highs. Something i regard as quite simply amazing given all the woe and worry that we endlessly hear about. What fueled todays rally . Its actually a complex formula of emotion and Empirical Data ware widespread sense of negativity gets proven wrong and remember, why we like stocks shines brightly. Smashing the allencompassing gloom. The house of pleasure lets start with the setup. We get data from all sorts of places the census bureau, bureau of statistics, bank of st. Lou, s p global, commerce department. Often these figures dont mean a hill of beans but periodically when the fed is in play they can mean everything. Especially if you know that the fed cares about some pieces of data more than others. Right now the fed is very much in play. Weve been getting some hot Economic Data of late. They