Market Overview
Stock futures traded higher on Wednesday as investors reviewed the delayed January jobs report and considered what it might mean for future interest rate cuts.
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Indexes & Sectors
Major Indexes: S&P 500 higher, Nasdaq higher, Dow higher, Russell 2000 higher
Leading Sectors: Energy, Industrial, Technology, Materials, Consumer Discretionary, Utilities, Financial
Lagging Sectors: Consumer Staples
Economic Calendar
Time (ET) | Report | Actual | Forecast | Previous |
|---|---|---|---|---|
8:30am | U.S. employment report (Jan.) | 55,000 | 50,000 | |
8:30am | U.S. unemployment rate (Jan.) | 4.4% | 4.4% | |
8:30am | U.S. hourly wages (Jan.) | 0.3% | 0.3% | |
8:30am | Hourly wages year over year | 3.7% | 3.8% | |
10:10am | Kansas City Fed President Jeff Schmid speaks | |||
2:00pm | Monthly U.S. federal budget | -$89.0B | -$129.0B |
Stocks In The Spotlight
Moderna (MRNA): The FDA refused to review Moderna's application for an experimental flu shot. The company has requested a meeting with the FDA to understand next steps. Shares tumbled.
Unity Software (U): The video game software maker reported quarterly earnings that beat expectations and revenue that topped estimates, but issued weaker-than-expected first-quarter guidance. Shares sank.
Mattel (MAT): The toy maker reported quarterly earnings and revenue that both missed expectations, and issued full-year guidance significantly below Street estimates. Citigroup and JPMorgan downgraded the stock, which tumbled.
Lyft (LYFT): The ride-sharing company reported quarterly bookings that met expectations but issued first-quarter guidance slightly below consensus estimates. Shares dropped.
Cloudflare (NET): The cloud network company issued strong first-quarter and full-year revenue guidance, both ahead of expectations, and beat analyst estimates for the fourth quarter. Shares rallied.
Terex (TEX): The construction equipment maker reported quarterly and full-year results and issued 2026 guidance projecting sales growth, while declaring a quarterly dividend. The stock rose.
Upstream Bio (UPB): The clinical-stage biotech company announced positive results from a Phase 2 trial evaluating a treatment for severe asthma. Shares fell sharply.
Avantor (AVTR): The life sciences products provider issued 2026 earnings guidance well below analyst expectations, projecting 77-83 cents per share versus the 90 cents consensus. Shares fell sharply.
Kraft Heinz (KHC): The food company announced it's pausing its separation plan and reported revenue slightly below expectations, with disappointing full-year earnings guidance. Shares dropped.
Robinhood (HOOD): The trading platform reported quarterly revenue that missed expectations, with transaction-based revenue also falling short of analyst estimates. The stock dropped.
Hinge Health (HNGE): The physical therapy platform issued first-quarter revenue guidance above analyst expectations. Shares rallied.
Teradata (TDC): The cloud analytics platform issued strong full-year earnings guidance above expectations and reported fourth-quarter results that beat on both profit and revenue. Shares surged.
Lattice Semiconductor (LSCC): The semiconductor company issued strong first-quarter revenue guidance well above expectations and reported fourth-quarter revenue that beat estimates. Shares rallied.
Astera Labs (ALAB): The semiconductor manufacturer issued first-quarter earnings guidance that only narrowly beat expectations. Shares plunged.
Shopify (SHOP): The e-commerce platform reported quarterly earnings and revenue that beat expectations, with revenue up significantly year-over-year, and authorized up to $2 billion in share repurchases. Shares rose sharply.
Vertiv (VRT): The infrastructure technology company reported strong quarterly results with significant sales growth, organic orders up substantially, and a record backlog. The company raised its full-year and first-quarter guidance. The stock surged.
T-Mobile (TMUS): The wireless carrier reported quarterly results that beat on both earnings and revenue but issued 2026 guidance with adjusted free cash flow below consensus. The company also announced a new AI platform with live translation capability. Shares fell.
Humana (HUM): The health insurer reported better-than-expected earnings, with a smaller quarterly loss and higher revenue than analysts anticipated. Despite the earnings beat, shares slid.
Generac (GNRC): The energy technology company missed quarterly earnings expectations, but CEO Aaron Jagdfeld highlighted growing presence in the data center market as a key driver for future growth. The stock jumped.
Ford Motor (F): The automaker reported quarterly automotive revenue that beat expectations but posted its widest quarterly earnings miss in four years. The stock advanced modestly.
Zillow Group (Z): The home-finding platform issued first-quarter guidance below expectations and reported quarterly earnings that slightly missed, though revenue beat estimates. Shares fell.
Freshworks (FRSH): The cloud software company issued current-quarter earnings guidance below expectations, though it beat estimates on both earnings and revenue for the fourth quarter. Shares slid.
Klaviyo (KVYO): The customer relationship management platform issued strong first-quarter revenue guidance and full-year outlook that surpassed expectations. The stock gained.
Upstart Holdings (UPST): The consumer lending platform reported quarterly revenue that topped estimates and adjusted EBITDA that narrowly beat expectations. Shares slipped.
Gilead Sciences (GILD): The biopharmaceutical company issued 2026 total product revenue guidance below analyst expectations. The stock declined.
Edwards Lifesciences (EW): The medical device company reported strong quarterly sales that beat estimates, though earnings per share missed. The company raised confidence in its 2026 outlook. The stock rose.
AIG (AIG): The insurance company reported quarterly earnings that beat expectations with revenue slightly below, and announced $6.8 billion returned to shareholders for the full year. The stock dipped.
GlobalFoundries (GFS): The semiconductor manufacturer reported a quarterly earnings beat and issued first-quarter guidance above consensus, while announcing a $500 million share repurchase program. Shares rose.
McDonald's (MCD): The fast-food giant is scheduled to announce earnings, with analysts expecting earnings per share of $3.05 and revenue of $6.8 billion.
Momentum Stocks
(Stocks showing elevated volume and notable price movement)
Gainers: AXTI, AMKR, ROIV, NVST, MMM, LUV, SYY
Losers: HUBS, PAR, PINS, MNDY, FIG
Today’s IPOs
Company | Ticker | Managers | Shares | Low | High | Volume |
|---|---|---|---|---|---|---|
AGI | AGBK | Goldman Sachs/Morgan Stanley/Citigroup/Bradesco BBI/BTG Pactual/Itaú BBA/Santander/SOCIETE GENERALE/XP Investments | 20 million | 12.00 | 12.00 | $240.0 million |
Columbus Circle Acquisition Corp. II | CMII | Cohen & Company Capital Markets/Clear Street | 20.0 million | 10.00 | 10.00 | $200.0 million |
D. Boral Acquisition I Corp. | DBCAU | D. Boral Capital (ex-EF Hutton) | 25.0 million | 10.00 | 10.00 | $250.0 million |
Idea Acquisition Corp. | IACOU | Cantor | 35.0 million | 10.00 | 10.00 | $350.0 million |
SOLV Energy, Inc. | MWH | Jefferies/J.P. Morgan/KeyBanc Capital Markets/TD Cowen/UBS Investment Bank/Baird/Evercore ISI/Guggenheim Securities/Wolfe | Nomura Alliance/CIBC Capital Markets /Roth Capital Partners | 20.5 million | 25.00 | 25.00 | $512.5 million |
Spartacus Acquisition Corp. II | TMTSU | BTIG | 20.0 million | 10.00 | 10.00 | $200.0 million |
Disclaimer: This newsletter is for informational purposes only and does not constitute investment advice. Readers should conduct their own research and consider consulting a financial professional before making investment decisions.