From Nasdaq, Inc.:

1. Lyft’s shares have risen due to cost cuts and a fourth-quarter profit that beats expectations. At the same time, Uber’s shares have hit a record high on the announcement of a $7 billion share buyback plan. Additionally, Robinhood’s stocks have soared following the announcement of a surprise Q4 profit and a revenue forecast.

2. Crypto stocks such as Coinbase, Marathon Digital, and Riot have experienced a jump as bitcoin’s market value crossed $1 trillion. As well, major financial indexes, the Dow, S&P, and Nasdaq, have seen an increase.

3. Chip stocks and rate-sensitive megacap Meta Platforms have risen after the previous day’s selloff, where the indexes were at over one-week lows. Stocks like Nvidia and Alphabet have also seen changes in market capitalization to reflect this.

4. The Federal Reserve is considering a rate cut and Austan Goolsbee, Chicago Fed President, believes the national inflation trend will remain friendly to the market despite ongoing economic concerns. Regardless, Federal Reserve’s rate cut expectations have lowered to 35%.

5. NVIDIA’s shares have risen by 0.7% and Alphabet has lost 0.2% bringing NVIDIA’s market value over that of Alphabet’s. At the same time, various chip stocks and Meta Platforms have risen after the previous selloff.



Read more: Wall St zig-zags higher after selloff; Nvidia outstrips Alphabet in market cap