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Index Update

The Dow fell 1.01% on Thursday, while the S&P 500 and Nasdaq lost 0.43% and 0.47%, respectively. Walmart’s 6.5% drop dragged down major retailers, and Palantir fell 5.2% on Pentagon budget concerns. However, Celsius Holdings surged 34% after strong Q4 earnings. Investors now await PMI data and home sales figures for economic insights.

Market Movers

On Thursday, the top gainers were Five9, Inc. (+18.06%), followed by          ACELYRIN, INC (+17.97%). On the contrary,            bluebird bio, Inc. (-37.78%) and JAKKS Pacific, Inc (-12.55%) declined the most the same day.

Commodities Update

WTI crude oil futures fell below $72 per barrel but remained on track for a 1.5% weekly gain due to supply concerns in Russia and a stronger demand outlook. A Ukrainian drone attack reduced Russian oil flows by 30%-40%, while cold U.S. weather and rising Chinese industrial activity were expected to boost demand. U.S. crude stockpiles increased, but gasoline and distillate inventories declined amid refinery maintenance. Meanwhile, investors watched Ukraine peace talks, with tensions between Zelensky and Trump easing after Zelensky signaled readiness for a U.S. investment and security deal following a meeting with Trump's envoy.

Macro Update

The 10-year US Treasury yield fell below 4.5% for a third straight session as trade policy concerns eased. While Trump imposed a 10% tariff on Chinese goods, other proposed tariffs remain unimplemented, reducing inflation fears and potentially allowing Fed rate cuts. FOMC minutes reaffirmed a cautious stance, with no urgency to ease policy. Investors now await PMI and home sales data for economic insights.

Futures Update

US stock futures stabilized Friday after a selloff driven by Walmart’s weak outlook, which sparked economic growth concerns. Bitcoin traded at $98,761 on February 21, up 0.44% from the previous session. It gained 4.91% over the past four weeks and surged 91.23% in the last year.

After experiencing a sharp decline earlier in the session, stocks managed to recover some ground during Thursday's trading. The major averages rebounded significantly from their early lows but still closed in negative territory. The S&P 500 initially dropped by as much as 1.0 percent but finished the day with a more moderate decline, down 26.63 points or 0.43 percent, closing at 6,117.51. Similarly, the Nasdaq fell 93.89 points or 0.5 percent to 19,962.36 after dropping as much as 1.3 percent. From a technical standpoint, the S&P 500 seems to be establishing a short-term upward trend, having bounced off the lower boundary of an ascending channel and showing a recovery in its Relative Strength Index (RSI) from the midpoint. Investors are closely monitoring key levels, with 6,190 identified as a potential resistance level and 6,020 as a support level, to better assess the market's next direction.