The following are the key news items that investors should be aware of before beginning their trading day:
1. Breaking Records
Nvidia continues to drive the stock market to new heights. Following another impressive earnings report, the chipmaker saw a staggering 16% increase in its share price on Thursday, pushing its market cap close to $2 trillion. Nvidia’s success fueled optimism in the tech sector and boosted chip stocks and the broader market.
2. Space Exploration Milestone
Thursday marked a historic moment in the space industry as Intuitive Machines achieved a significant milestone by becoming the first company to successfully land on the moon with its IM-1 mission. The cargo lander “Odysseus” made history as the first U.S. spacecraft to touch the lunar surface since 1972.
3. Reddit’s IPO on the Horizon
After a deliberate process, Reddit has finally made progress towards its initial public offering (IPO). More than two years after submitting a draft registration, the social media platform filed its IPO prospectus with the Securities and Exchange Commission on Thursday. Reddit is set to debut on the New York Stock Exchange in March with the ticker symbol “RDDT.”
4. Cellular Service Disruption
A widespread cellular service outage affected thousands of AT&T users on Thursday, disrupting calls and texts for consumers and causing interruptions in city emergency services. While some Verizon and T-Mobile users also experienced issues, these were likely due to attempts to contact AT&T customers, according to the companies involved.
5. Earnings Surprises
Two companies experienced significant premarket trading surges on Friday after reporting unexpected quarterly profits. Block saw its shares rise by about 15% thanks to strong revenue growth in its Square and Cash App businesses. Carvana’s shares surged over 30% as the company announced its first-ever profit.
Source (CNBC)
