Good evening, y’all. It was a whirlwind of a week, congrats on surviving.
The market of stocks marched higher for the second day straight. The Dow was today’s leading index, rocketing 2.51% and back above $34,000. The small-cap Russell 2000 ripped 1.57% to finish the week in positive territory.
The S&P 500 sparked 2.24% on Friday, closing with a +0.82% weekly gain. The Nasdaq ascended 2.24% to $4,384.
CarGurus climbed 43.96% to three-year highs after smashing estimates on the top and bottom line. Revenue grew 124% year-over-year to $339.3 million. $CARG is now up 37.36% YTD.
All 11 sectors closed higher. Materials put together a 3.22% gain as today’s top sector. Financials and consumer staples both surged 3.22%. Utilities trailed with a 3.10% profit.
Crypto added onto yesterday’s move higher. Ethereum expanded 4.3% to $2,700 and Aave ascended 12% to $141.
LendingTree trekked 15.65% today after reporting fourth-quarter earnings. See more on $TREE and other earnings movers below.
$FTCH flew 39.37%, $LNTH leaped 16.14%, $ONE.X raced 13.3%.
Here are the closing prices:
| S&P 500 | 4,384 | +2.24% |
| Nasdaq | 13,694 | +1.64% |
| Russell 2000 | 2,040 | +2.28% |
| Dow Jones | 34,058 | +2.51% |
Bullets
Bullets from the Day
🇺🇦 NATO activates Response Force for first time. The North Atlantic Treaty Organization is deploying troops as part of the NATO Response Force for the first time in history. They will be deployed to Ukraine to help reckon with Russia’s ongoing invasion of the country. Read more in TIME.
🧑⚖️ Biden’s Supreme Court pick is Ketanji Brown Jackson. Judge Jackson serves on the D.C. Circuit Court and will face nomination scrutiny in the Senate. Congressional Progressives praised the pick (and Jackson’s record.) Republicans, on the other hand, called Jackson “too ideological.” Read more in NBC.
🛢️ Trending biodiesel producer might sell for $3 billion. A report indicating that biofuel maker Renewable Energy Group might sell to Chevron sent the stock rising more than 20% earlier this week. In afterhours today, though, that report inched closer to reality. $REGI jumped more than 33.9% and trended on Stocktwits after Bloomberg reported a $3 billion acquisition was close. Jump into the $REGI stream.
📉 Russia’s stock market crash sets records. Russia’s stock market index, the MOEX Russia Index, has recorded the fifth-worth plunge in equity market history. The index closed down 33%, or $189 billion worth of shareholder value, after investors fled the country’s markets given concerns about its invasion of Ukraine (and the consequences which would surely follow.) Read more in Fortune.
🌐 What’s New in Crypto World? Crypto hasn’t exactly proven itself to be a strong risk asset in recent days, losing double-digits in light of newfound macroeconomic and geopolitical tension. However, there is a lot going on in crypto… even if isn’t necessarily always going up. Most namely, lawsuits in the world of NFTs, questions about a leading stablecoin issuer, and momentum in the bourgeoning world of web3. Read the latest edition of The Litepaper.
Sponsored
A Major Shift in Solar Technology is Coming
Graphene & Solar Technologies (OTCQB: GSTX) is forging a path to manufacturing transparent solar panels for commercial use. Using the unique material graphene, GSTX will be making lighter and more efficient solar panels, positioning them for massive growth as the solar market continues to boom.
Earnings
Earnings Today
Foot Locker flopped 29.8% to eighteen-month lows after the company issued a gloomy full-year projection, highlighting challenges as its main producer, Nike Inc, accelerates direct sales to customers.
$FL | EPS: $1.67 (vs. $1.43 expected) | Revenue: $258.3 million (vs. $265 million expected) | Link to Report
LendingTree grew 15.65% in today’s session trading after the loan provider announced it expects sales of $280 – 290 million in the first quarter, ahead of the Wall Street forecast of $277.7 million. $TREE is now down 5.35% in 2022.
$TREE | EPS: ($0.14) (vs. ($0.28) expected) | Revenue: $255.6 million (vs. $259.3 million expected) | Link to Report
Li Auto raced ahead 1.94% after reporting a surprise profit in Q4. $LI beat earnings and sales expectations and full-year deliveries reached 90,491.
$LI | EPS: $0.34 (vs. ($0.04) expected) | Revenue: $1.67 billion (vs. $1.43 billion expected) | Link to Report
Ocugen rose 5.4% following the company’s announcement that the FDA has lifted its clinical hold on the Covid-19 vaccine it is developing with Bharat Biotech. $OCGN met earnings expectations while reporting no revenue.
$OCGN | EPS: ($0.07) (vs. ($0.07) expected) | Revenue: $0 (vs. $0 expected) | Link to Report
Links
Links That Don’t Suck:
🍄 Less than one month left to claim your shares in the $35B plant medicine industry.*
🚇 The Secret Subway That Could Save New York
🏠 The Architecture Trend Dividing London Elites
💸 Tom Scott’s New Game, Money. Five Youtubers, Five Games, $10,000 On the Line.
✈️ This YouTuber Bought an Airline
📰 This Journal Is Designed to Keep You Productive
🔒 The President of Master Lock Sends the LockPickingLawyer A Challenge
*this is a sponsored post