From Nasdaq: 2025-02-12 20:27:51

Stock indexes closed mixed on Wednesday, with the S&P 500 and Dow Jones falling to 1-week lows. Stronger-than-expected Jan CPI data dampened rate cut expectations. Chip stocks rallied, lifting Nasdaq 100 into positive territory. US Jan CPI accelerated to +3.0%, exceeding expectations. Fed Chair Powell signaled a desire to keep policy restrictive. Corporate earnings results were mixed, impacting various stocks. US MBA mortgage applications rose +2.3% in the week ended February 7. The markets await US Jan PPI and retail sales reports later this week.

European government bond yields rose, with German bund and UK gilt yields reaching highs. Italy’s Dec industrial production saw a significant decline. ECB member Holzmann expressed reservations about cutting rates due to inflation concerns. Swaps predict a rate cut by the ECB at the March meeting. US stock movers included Westinghouse Air Brake Technologies, Waters, Biogen, and energy-related companies. Gainers included CVS Health, Gilead Sciences, and chip makers like GlobalFoundries and Intel. Earnings season continues with companies reporting Q4 results.

Vertiv Holdings, Zillow Group, and Lyft Inc faced declines after weak forecasts. Kraft Heinz and Martin Marietta Materials also saw negative price movements. Generac Holdings, Edwards Lifesciences, and NXP Semiconductors NV rose after positive reports. DoorDash, Tesla, CME Group, and Confluent also experienced gains. Numerous companies are set to report Q4 earnings on February 13, including Airbnb Inc, Deere & Co, and Zoetis Inc. The author of the article did not hold any positions in the mentioned securities.



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