01 Stock Market
As of Feb 20, U.S. stock index futures performed as follows: Dow futures were little changed, edging lower by 0.01%, while S&P 500 futures dipped 0.02%. In contrast, Nasdaq 100 futures added 0.01%, suggesting a slightly firmer tone in growth shares. The modest moves indicate a cautious setup ahead of the bell, with investors balancing strong single-stock catalysts against a relatively calm index backdrop.
Notable Stock Movers: Momentum concentrated in select names tied to earnings and AI catalysts. OPEN up 19.14% at $5.54; APP up 5.08% at $432.91; GOOG up 1.21% at $307.22; GOOGL up 1.34% at $306.90; biotech GRAL fell 48.78% at $52.00. Broader AI-linked vehicles showed mixed tone: AGQ up 4.94% at $143.68 and SLV up 2.45% at $72.75, while leveraged semis SOXL fell 0.21% at $65.09.
Among megacaps, moves were generally contained but directionally informative. NVDA fell 0.20% at $187.52; AAPL fell 0.15% at $260.20; TSLA fell 0.22% at $410.81. Elsewhere, crypto-exposed COIN rose 0.94% at $167.50, while cloud stalwart ORCL fell 0.73% at $155.40. The dispersion highlights how stock-specific news—particularly earnings beats, product launches, and trial updates—is shaping pre-market leadership despite flat index futures.
02 Other Markets
• 10-year U.S. Treasury yield fell 0.10%, to 4.07%.
• U.S. Dollar Index rose 0.0348% to 97.87.
• WTI crude oil futures fell 0.67% to 66.22 USD/barrel; COMEX gold futures rose 26.50 USD/ounce.
03 Key News
1. Alphabet unveiled Gemini 3.1 Pro and expanded availability across developer and enterprise platforms, lifting shares. The update emphasizes improved core reasoning and complex problem-solving. Access spans the Gemini API, Google AI Studio, Vertex AI, and consumer channels, reinforcing GOOG/GOOGL’s full-stack AI positioning and supporting pre-market strength.
2. Opendoor reported a revenue and adjusted EBITDA beat, driving a sharp pre-market rally. The company disclosed revenue of $736 million versus a consensus near $594 million and a narrower per-share loss than expected. The update signaled progress on its transformation plan, propelling OPEN higher as investors reassessed operating momentum.
3. AppLovin rose after social media chatter suggested work with OpenAI to monetize ChatGPT via ads. Though unconfirmed, the potential partnership focus sparked notable interest in APP, reflecting appetite for monetization pathways in consumer AI. The move underscores sensitivity to AI tie-up headlines in the current market.
4. Copart posted fiscal second-quarter earnings and revenue declines on softer vehicle volumes, pressuring shares. Profit came in at 36 cents per share versus 40 cents previously, and revenue fell 3.6% to $1.12 billion. The company cited reduced inflows amid insurance dynamics, sending CPRT lower in pre-market trading.
5. Akamai guided first-quarter adjusted profit below expectations as a memory supply squeeze raised costs. Management flagged margin pressure tied to component availability and pricing, weighing on near-term profitability. The outlook pushed AKAM lower as investors priced in elevated cost headwinds.
6. GRAIL reported topline NHS-Galleri results that missed the primary endpoint, triggering a steep selloff. While the study showed positive trends in reducing Stage IV diagnoses for certain cancers and improving early-stage detection, it did not meet the main clinical goal. The update drove GRAL sharply lower as the market recalibrated expectations for trial impact.
7. Nvidia is close to investing around $30 billion in OpenAI as part of a mega funding round, according to a source. The move would deepen strategic ties with a major AI customer and help finance purchases of NVDA’s systems. Additional participants like AMZN and SoftBank are likely, highlighting consolidating alliances across the AI value chain.
8. Meta reduced annual stock awards by about 5% for most employees to prioritize AI investment. The adjustment continues resource reallocation toward large-scale data center projects and AI initiatives. The decision underscores META’s focus on long-term infrastructure for AI, even as it streamlines other efforts.
9. Nvidia exited its position in Recursion Pharmaceuticals, while ARK Invest purchased 1.25 million shares. The stake sale by NVDA and subsequent buy by ARKK spotlighted divergent views on RXRX’s prospects. Trading notifications indicated increased ARK exposure, shifting ownership dynamics after recent volatility.
10. Amazon surpassed Walmart as America’s largest company by annual revenue, marking a competitive milestone. With sales outpacing its rival, AMZN’s acceleration reflects gains from faster delivery, broader categories, and growth in non-retail businesses. The shift underscores evolving retail leadership and strategic convergence across logistics, cloud, and advertising.
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Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.