From Nasdaq:

Lyft saw a steep rise in stock values, gaining 19.9% after a better-than-expected Q4 profit and the expectation of positive free cash flow for the first time in 2024. Rival Uber also gained 5.6%, bolstered by announcing a $7-billion share buyback plan. On the other hand, Robinhood soared 14.4% following a surprising Q4 profit. Intuitive Machines, fell 8.9% as their launch of a robotic moon lander was postponed, and Upstart dropped 13.9% following a downbeat first-quarter revenue forecast.

At 7:12 a.m. ET, the Dow was up 0.28%, the S&P was up 0.52%, and the Nasdaq was up 0.71% after the sharp Wall Street sell-off from the previous session. Treasury yields eased from over two-month highs, which improved premarket trading, bringing about a rebound in rate-sensitive stocks. Investors are reassessing their expectations for a rate cut in the first half of 2024 following the hot inflation report.

Bitcoin surpassed the $1 trillion market cap, leading to a jump in crypto stocks. Bitcoin’s market value had not reached this high since November 21. Stock index futures showed a recovery after the previous sharp Wall Street sell-off, which was welcomed after the uncertainty caused by a hot inflation report affecting the Federal Reserve’s first interest rate cut.

Sources:
https://tmsnrt.rs/3OG5xLn



Read more: US STOCKS-Futures gain steam after Wall Street’s slide; rate-cut jitters loom