The stock is down almost 25 this year. And the crypto climb continues. Crypto up 56 in a month. Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight tim seymour, karen finerman, dan nathan, and guy adami. We start off with the trifecta of trouble in the socalled magnificent seven. Apple, after fa bet and tesla all down sharply this year. Yet the Broader Market seems to be okay, shrugging off the weakness. The s p closing the day basically flat. The dow and nasdaq were down less than half a percent. And look where the strength came from. Nvidia up 3. 6 , a new alltime high. That stock is now up more than 250 from a year ago. Lilly and the glp space also continuing to gain. That stock quickly closing in on the trillion dollar market cap club, but its not all the same old stocks. Transports also at a record, with todays move higher drichbt driven by lyfts 4 pop. Industrials also on a tear. Names like caterpillar, up days in a row here. What does this broaden
Competition in the space. A weight loss drug promising competition for big players. Could it mean an acquisition is in the future. We will dive into it. Im melissa. Tim see more, Courtney Garcia and guy awe daumie. The nasdaq jumping more than a percent, notching the first record intraday high since before thanksgiving 2021. The techheavy index closing below 16,300. The s p also marking alltime highs putting in its 15th record close since january 1st, but there have been one notable name sitting out of the market rally. Apple posting another loss today and is now down nearly 10 since hitting its record in middecember. Whatever happened to that old idea that we like to say, bandy around here, that markets could not go higher without apple . What does it mean for the rally . Is this actually good news for the market, guys . Im one who adhered to that. Again we play the game often. Guy, if i told you that apple would be hold on. Is that a third person reference . Not the way i could have.
, Lisa Abramowicz and annmarie hordern. Live from new york city, good morning. For audience worldwide this is bloomberg surveillance alongside Lisa Abramowicz. Your equity market on the s p 500 down yesterday just a touch down this morning by one third of 1 . Cpi upside surprise, pce coming up a little bit later. A lot of people are saying thats the big data point but how do you trade the market that seems to be driven by its own sentiment. That seems to be with the lack of conviction i read all the notes overnight i have to say the headline of the day frankly is momo fomo or own no. You can translate that later in the program. Ultimately over the last few weeks the last few months this market is repriced aggressively. And the fed hasnt had to adjust at all. President williams sounds like a president williams we heard about a month ago. Three times seems about right for fed rate cuts this year. They havent changed their message. Market kicking and screaming. But heres the real question
And later, chinas auto boom why cars made by the countrys manufacturers are in such high demand around the world. And what that could mean for American Companies trying to compete. Im melissa lee coming to you live from studio b at the nasdaq and we start off with the last of the three major averages to set a record close this year the nasdaq making the most of this extra day of february and leaping nearly a percent it was the first time the index closed at a record since way back in november of 2021 the s p and dow also ending the day higher with all three indices notching a fourth straight month of gains. But a couple stocks in particular really caught our eye. So much attention on nvidia this year, but look at amd, up 9 today, nearly 15 in february. Retail also seeing strength, are ralph lauren seeing its best month since 1999 the single best performing stock on the s p this month, constellation energy, up 40 for its best month on record so, as you had ed into march, do you stick wi
First of all, that a. I. Fueled boom, dell shares surging. Nasdaq coming off its First Closing high in more than two years. And ray dalio down plays talk of a tech bubble. Plus new York Community bank corp. Is warning of Material Weakness in its accounting, and its dragging down a number of other Regional Banks. That bank stock is also down sharply. Suboptimal situation. And in the land of lawsuits, elon musk, suing openai, accusing it of putting profit before humanity. Didnt you ask him about this . I did. I did. And well cover that. But first, lets get to the markets. Obviously, a new month. Happy march. Yes. February, obviously, we had a nice run of things. Jeff marks, my partner for the investing club, happy birthday. Happy birthday. Not mine this time. What do you want to talk about as we look ahead to the month of march . Whats in your mind . I want to obviously get to the dell earnings in a minute, but just give me your overall take on where we are and where were headed. Sure. I