01 Stock Market

As of Feb 20, the U.S. major indexes closed as follows: The U.S. major indexes closed as follows: Dow Jones down 0.54% at 49395.16; S&P 500 down 0.28% at 6861.89; NASDAQ down 0.31% at 22682.73. A modest pullback followed a strong run, with mixed performance across mega-cap technology and semiconductors. Energy names showed relative resilience as investors weighed earnings and capital allocation updates alongside ongoing AI-related corporate developments.

Standout single-name moves clustered around AI, energy, and software headlines. Occidental up 9.38% at $51.53; Figma up 6.90% at $25.86; Tempus AI up 6.77% at $59.96; AMD up 1.62% at $203.37. Precious-metals proxies gained: AGQ up 2.64% at $136.92; SLV up 1.31% at $71.01. Levered tech funds were mixed: SQQQ up 1.13% at $72.21; TQQQ down 1.13% at $48.83; SOXL down 1.60% at $65.23. Among large-cap tech: Apple down 1.43% at $260.58; Intel down 1.85% at $44.62; Western Digital down 4.01% at $284.67; NVIDIA down 0.04% at $187.90; Microsoft down 0.06% at $398.46; Alphabet down 0.13% at $303.56; Amazon up 0.03% at $204.86; Tesla up 0.09% at $411.71.

Earnings and strategic updates steered dispersion beneath the surface. Energy strength was underpinned by company-level execution and midstream support, while software beneficiaries advanced on guidance and AI product roadmaps. Select chip and storage names lagged on profit-taking and competitive concerns, and mega-cap tech was mixed as investors balanced AI infrastructure winners against near-term spending and margin debates.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 4.08%.

USD/CNH was unchanged at 0.00%, at 6.91; USD/HKD was unchanged at 0.00%, at 7.81.

U.S. Dollar Index fell 0.02%, at 97.81.

WTI crude futures fell 0.25%, at 66.50 USD/bbl;

COMEX gold futures rose 0.05%, at 5018.10 USD/oz.

03 Top News

1. NVIDIA and Meta expanded an AI infrastructure partnership, bolstering large-scale GPU deployments. Meta plans to build hyperscale clusters using Nvidia’s next‑generation platforms and Spectrum‑X networking. The collaboration aims to improve performance per watt and scalability, reinforcing sustained AI capital spending.

2. eBay agreed to acquire Depop from Etsy for about $1.2 billion, expanding its fashion recommerce strategy. The cash-funded transaction positions Depop to leverage eBay’s scale, tools, and marketplace expertise. The move targets faster growth in circular fashion among younger shoppers. Etsy up 9%.

3. Occidental reported better‑than‑expected quarterly profit and highlighted balance‑sheet progress. Midstream strength and improved gas margins helped offset softer crude realizations. Management reaffirmed capital spending and production ranges while emphasizing ongoing debt reduction.

4. DoorDash guided first‑quarter marketplace gross order value above estimates, signaling resilient platform demand. Expansion across grocery, retail, and international markets continues to drive scale. Integration efforts aim to streamline operations and support long‑term margin improvement despite elevated investment.

5. Hims & Hers Health announced a deal to acquire Eucalyptus for up to $1.15 billion, accelerating international expansion. The structure includes cash at closing, deferred payments, and performance-based earnouts. The transaction would broaden presence across Australia, Japan, the UK, Germany, and Canada, subject to approvals.

6. Walmart forecast annual sales and profit below elevated expectations and authorized a $30 billion buyback. Management underscored strong e‑commerce traction and price leadership drawing higher‑income shoppers. The outlook reflects disciplined growth as the retailer pursues faster, more personalized service.

7. The U.S. Labor Department reported weekly jobless claims fell more than expected, pointing to stabilizing labor conditions. Initial claims declined to a seasonally adjusted 206,000, below typical economist forecasts. Continuing claims edged higher, suggesting re‑employment remains uneven even as headline filings ease.

8. Klarna posted its first billion‑dollar revenue quarter but issued a conservative near‑term outlook, pressuring shares. Revenue reached about $1.08 billion with gross merchandise volume near $38.7 billion. Guidance for revenue and GMV hovered around the midpoint of expectations, tempering sentiment.

9. Deere raised its full‑year net income forecast, citing cost controls and a recovery in construction and small agriculture. The company now sees net income of $4.5–$5.0 billion and highlighted dealer inventory discipline. Management indicated the cycle is near a bottom, improving earnings visibility. Deere shares up 11%.

10. Bank of America removed Palantir from its US 1 List while maintaining a Buy rating, reflecting portfolio rebalancing. The bank remains constructive on Palantir despite a refined top‑ideas lineup. The move comes amid ongoing debate over AI software valuation and growth durability.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data---Disclaimer: This content is for reference only and does not constitute investment advice.