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ADDX GO Market Morning Wrap - 14th Feb

Go Wire
Go Wire
February 14, 2025
GoGPT Summarizes Articles

Stock Market

Asian markets were mixed on Feb 13. Nikkei 225 rose 1.28% to 39,461.47, leading regional gains. Hang Seng Index dipped 0.20% to 21,814.37, while STI Index edged up 0.21% to 3,882.58. IDX Composite fell 0.48% to 6,613.57, and FTSE Bursa KLCI declined 0.67% to 1,592.28. NIFTY 50 slipped 0.06% to 23,031.40, and Sensex Index was down 0.04% to 76,138.97.
U.S. markets closed higher, with S&P 500 up 1.04% to 6,115.07, Dow Jones rising 0.77% to 44,711.43, and Nasdaq gaining 1.50% to 19,945.64. Russell 2000 climbed 1.17% to 2,282.18.

Key Events

  • On Thursday, President Donald Trump signed a presidential memo proposing the implementation of reciprocal tariffs. These tariffs would be tailored to each trading partner based on five key factors: the tariffs they impose on U.S. goods, unfair tax practices, costs to U.S. businesses and consumers, exchange rates, and any other unfair trade practices identified by the U.S. Trade Representative's office. U.S. Commerce Secretary nominee, Howard Lutnick, predicted that the new tariffs would be implemented by April 2.
  • Despite collaborating with Alibaba, $AAPL Apple continues its partnership with Baidu to develop artificial intelligence (AI) features for iPhone users in China. Reports suggest that Baidu is developing an AI search feature that handles both images and text, as well as an upgrade to the Chinese version of Siri, which will be part of the "Apple Intelligence" suite.
  • Applovin saw its stock soar by more than 24% during trading after posting strong Q4 earnings and exceeding market expectations for Q1 guidance. The company revealed plans to shift toward a fully advertising-based platform.
  • The International Energy Agency (IEA) has downgraded its forecast for the global oil surplus in 2025 to 450,000 barrels per day, a reduction of about 50%. This is due to increased demand in Asia and the impact of sanctions on OPEC+ members. Despite U.S. sanctions pushing up oil prices, the IEA believes that these measures have not yet had a significant impact on global oil supply, and OPEC+ may maintain its production levels.
  • U.S.-based humanoid robotics startup Apptronik has raised $350 million in Series A funding to expand its AI-driven humanoid robot production. Founded in 2016, Apptronik focuses on industrial AI robots, particularly the "Apollo" series, and has collaborated with NASA, Nvidia, and Google DeepMind. $GOOGL 
  • Elon Musk has stated that he would withdraw his $97.4 billion acquisition offer for OpenAI if the company’s board blocks its transition to a for-profit model. Musk's lawyer emphasized that OpenAI should engage in fair market price transactions if it moves toward commercialization. OpenAI CEO Sam Altman rejected the acquisition proposal, suggesting that Musk's intention is to delay the company’s progress.
  • In a recent interview, Elon Musk revealed that xAI’s upcoming AI model, "Grok 3," will surpass other existing models, including DeepSeek, o3-mini, and Gemini, branding it as a “Scary Smart” AI system. Musk teased that the world will witness the debut of this advanced model in the coming weeks.
  • $ABNB Airbnb reported its Q4 earnings for 2024, with the stock soaring nearly 15% in after-hours trading. The company posted Q4 revenue of $2.5 billion, a 12% year-on-year increase, surpassing market expectations. Earnings per share (EPS) were $0.73, also exceeding analyst predictions.
  • $COIN Coinbase announced better-than-expected Q4 results on Thursday after U.S. markets closed, marking its highest quarterly revenue in three years. This strong performance was driven by a sharp rebound in cryptocurrency prices following the late-year U.S. elections.

Forex

The U.S. Dollar Index dropped 0.81% to 107.07.

Key Events

  • The latest Producer Price Index (PPI) data showed mixed results, but the market generally expects the Federal Reserve to keep its policy rates unchanged until September. According to the report released by the U.S. Bureau of Labor Statistics on Thursday, the month-on-month PPI increased by 0.4%, slightly lower than the revised previous value of 0.5%, but higher than the expected 0.3%. Year-on-year, the PPI rose by 3.5%, surpassing the market expectation of 3.2%, marking the largest increase since February 2023. The core PPI increased by 0.3% month-on-month and 3.6% year-on-year.

Cryptocurrency

Bitcoin (BTC-USD) fell 0.79% to $96,284.21, down for the third time in the past five trading sessions.

Key Events

  • GameStop Corporation is said to be exploring the option of adding Bitcoin and other cryptocurrencies to its balance sheet, following in the footsteps of several other publicly traded companies that have ventured into the crypto space.
 

Market Events and Most Anticipated Earnings Releases

#Market Morning Wrap#$Apple Inc.(AAPL)#$Alphabet Inc. Class A Common Stock(GOOGL)#$Airbnb Inc. Class A Common Stock(ABNB)#$Coinbase Global Inc. Class A Common Stock(COIN)