From Nasdaq OMX:

Wall Street opened subdued after the Labor Department’s producer prices report. Treasury yields spiked following the report showing a month-on-month increase of 0.3% in January, and an annual rise of 0.9%. The focus will be on remarks by Fed’s Richmond President Thomas Barkin and San Francisco Fed President Mary Daly. Megacap stocks gave up early gains with Nvidia as a notable exception. Later in the day, focus will be on remarks by Fed’s Richmond President Thomas Barkin and San Francisco Fed President Mary Daly, both voting members this year.

Robust corporate earnings and surge in enthusiasm around AI pushed the S&P 500 to close above the 5,000-point mark for the fourth time this year. At 8:49 a.m. ET, Dow e-minis were down 156 points, S&P 500 e-minis down 14.5 points, and Nasdaq 100 e-minis down 1.5 points. Among big movers, Applied Materials jumped 9.2%, while Roku slumped 17.1%. Monthly change in US Producer Price Index [https://tmsnrt.rs/3O2ujVz]. Mobile chip designer Nvidia rose 1.5% after Oppenheimer hiked its price target on the chip designer’s stock.

Following the producer prices report, Nasdaq is set to end a five-week winning streak, and S&P 500 also lost some steam this week. Later in the day, focus will be on remarks by Fed’s Richmond President Thomas Barkin and San Francisco Fed President Mary Daly, both voting members this year. Later on Friday, eyes will also be on a U.S. consumer sentiment survey for February. Monthly change in US Producer Price Index [https://tmsnrt.rs/3O2ujVz]. Robust corporate earnings and AI enthusiasm boosted the S&P 500 to close above the 5,000-point mark for the fourth time this year.

The focus will be on remarks by Fed’s Richmond President Thomas Barkin and San Francisco Fed President Mary Daly, both voting members this year. Atlanta Fed President Raphael Bostic noted he saw fewer rate cuts in his last forecasts due to less steady progress on inflation. Also on Friday, eyes will be on a U.S. consumer sentiment survey for February, as well as remarks by Fed’s Richmond President Thomas Barkin and San Francisco Fed President Mary Daly. Monthly change in US Producer Price Index [https://tmsnrt.rs/3O2ujVz].



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