More inflation data is on tap this week
Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are hovering near breakeven this morning, after all three major indexes last week notched record highs following a Big Tech rally spurred by Nvidia's (NVDA) blowout earnings. More inflation data is on tap this week, however, and Amazon.com (AMZN) will replace Walgreens Boots Alliance (WBA) on the Dow today.
Continue reading for more on today's market, including:
- What played into last week's record highs.
- Why bulls should consider this gambling stock.
- Plus, what's boosting Berkshire Hathaway stock; space stock tips over; Domino's Pizza hikes dividend.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts and 1.1 million put contracts traded on Friday. The single-session equity put/call ratio stayed at 0.66, while the 21-day moving average remained at 0.70.
- Berkshire Hathaway Inc (NYSE:BRK.B) stock is up 2.1% ahead of the open, after the Warren Buffet conglomerate beat earnings and revenue expectations for the fourth quarter, thanks to strength in its railroad, utilities, and insurance businesses. This also included a record-breaking profit. BRK is up more than 37% in the last 12 months.
- Intuitive Machines Inc (NASDAQ:LUNR) is down 27.3% in premarket trading, following news that its moon lander, Odysseus, tipped over and was on its side. Should premarket losses hold, LUNR will be dangerously close to penny stock territory. Shares already carry a 52.8% year-over-year deficit.
- Domino's Pizza Inc (NYSE:DPZ) announced a 25% dividend hike earlier, which will go into on effect March 9, and an additional $1 billion increase to its share buyback program. This comes on the heels of a fourth-quarter earnings beat. The equity is up 5.2% ahead of the open, and added more than 40% in the past 12 months.
- Fed remarks and the personal consumption expenditures (PCE) index are on tap this week.
Asian Markets Lag Behind Nikkei's Fresh Peak
Japan’s Nikkei hit a fresh all-time high on Monday, finishing the day up 0.4%. The rest of Asia’s markets didn’t fare as well, with China’s Shanghai Composite falling 0.9%, the South Korean Kospi shedding 0.8%, and Hong Kong’s Hang Seng dropping 0.5%. South Korea unveiled new measures to boost stock markets, with the country’s Financial Services Commission drawing up the details of its “Corporate Value-up Program,” aimed at prioritizing shareholder returns.
European bourses are trading more hesitantly today. London’s FTSE 100 and the French CAC 40 are both down 0.3% at last glance, while the German DAX rises 0.1%, shrugging off a 10% drawdown from HelloFresh.