Daily Markets: Wall Street Watches Mobile World Congress for AI Updates
From Nasdaq, Inc.:
Today in the Asia-Pacific region, markets ended mixed with China’s Shanghai Composite down by 0.93% and Hong Kong’s Hang Seng falling by 0.54%. However, Australia’s ASX All Ordinaries added 0.11% and Japan’s Nikkei closed 0.35% higher. European and U.S. markets are trading mixed. In the U.S., investors are watching for potential government shutdown signs.
As the week progresses, key economic data includes China, Japan, Eurozone, and the UK’s February Manufacturing PMI. Today, the U.S. will release data on January New Home Sales and the February Dallas Fed Manufacturing Index. Speaker Mike Johnson unveiled plans to avert a government shutdown with multiple appropriations bills.
Last week, post-Nvidia earnings, Technology, Communication Services, and Consumer Discretionary sectors saw some pressure. Energy took the biggest hit, down 0.66%. The S&P 500 closed up 0.03%, while the Nasdaq Composite ended slightly down at -0.28%. Booking Holdings and Warner Brothers saw significant declines on news of poor quarters.
Earnings to watch include Clear Channel, Domino’s Pizza, Fresh Del Monte, Itron, Pilgrim’s Pride, and Surgery Partners. Pre-market shows healthy breadth in the S&P 500, with some stocks trading higher like Domino’s Pizza and Berkshire Hathaway. NVIDIA and Qualcomm announced new AI-driven solutions, while Google and Walt Disney make strategic partnerships.
Upcoming IPOs can be explored on Nasdaq’s Latest & Upcoming IPOs page. After market close today, companies like AES, iRobot, and Workday will report earnings. Tomorrow’s economic calendar includes Japan’s Inflation Rate, Germany’s GfK Consumer Confidence, and U.S. Durable Orders. Keep an eye on key data releases and earnings reports throughout the week.
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