01 Stock Market
As of Feb 13, the U.S. major indexes closed as follows: The U.S. major indexes closed as follows: Dow Jones down 1.34% at 49,451.98; S&P 500 down 1.57% at 6,832.76; NASDAQ down 2.03% at 22,597.15. Broad declines followed a heavy slate of AI- and software-related headlines and mixed earnings updates, with mega-cap tech and growth leaders pacing the pullback. Defensive rotation was limited, leaving most sectors in the red by the close.
Unusual-move stocks centered on AI, software, and crypto-linked names. NVIDIA down 1.64% at $186.94; Micron up 0.88% at $413.97; Tesla down 2.62% at $417.07; Apple down 5.00% at $261.73; Fastly up 72.29% at $16.04; AppLovin down 19.68% at $366.91; Coinbase down 7.90% at $141.09; Western Digital up 3.78% at $284.10; SanDisk up 5.16% at $630.29; Palantir down 4.83% at $129.13; Meta Platforms down 2.82% at $649.81; AMD down 3.58% at $205.94; Microsoft down 0.63% at $401.84; Amazon down 2.20% at $199.60; SOXL down 7.27% at $63.10; TQQQ down 6.11% at $48.26.
Headline drivers included AI and software prints and guidance: a steep slide in Apple on reported Siri rollout delays, a sharp rally in Fastly on stronger results and outlook, and weakness in AppLovin despite guidance pointing to slower growth. Chip-equipment sentiment was supported by an upbeat outlook from Applied Materials, while Coinbase fell after a surprise quarterly loss, weighing on crypto-linked risk appetite.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.10%.USD/CNH rose 0.0000%, at 6.90; USD/HKD rose 0.0013%, at 7.82.U.S. Dollar Index rose 0.0155%, at 96.92.WTI crude futures rose 0.08%, at 62.89 USD/bbl; COMEX gold futures fell 0.59%, at 4,919.30 USD/oz.
03 Top News
1. Apple reportedly delayed enhanced Siri features, and its stock slid, erasing significant market value. Media reports indicated testing setbacks for new AI capabilities may push a phased release schedule, raising concerns about Apple’s AI execution. Apple shares fell and market cap losses mounted, with analysts highlighting privacy and integration priorities as key to eventual rollout. Supply-chain cost pressures in memory also remain a watch point for margins.
2. Applied Materials guided revenue and profit above expectations, citing AI-driven demand and tight memory supply. The company projected stronger sales and adjusted EPS, attributing momentum to investments in leading-edge logic, high-bandwidth memory, and advanced packaging. Shares of peers also firmed in response as industry capacity plans align with accelerating AI infrastructure needs.
3. Applied Materials agreed to pay $252.5 million to resolve U.S. export compliance allegations tied to past shipments. The firm said a misunderstanding of rule applicability caused certain noncompliant transactions, while related probes by the DOJ and SEC concluded without further action. Management’s update reduces a legal overhang as the company pursues AI-capex-driven opportunities.
4. Coinbase posted a surprise quarterly loss as weaker crypto trading volumes pressured transaction revenue. The company’s consumer trading revenue dropped sharply amid subdued volatility and outflows from spot bitcoin ETFs. Subscription and services revenue grew, buoyed by stablecoin income via its USDC partnership, partially offsetting trading weakness.
5. HubSpot beat quarterly expectations, raised full-year guidance, and authorized a $1 billion share repurchase. Management highlighted momentum from its agentic customer platform and accelerating upmarket adoption, with revenue and calculated billings rising strongly. The company expects continued double-digit growth and improved operating leverage into the next quarter.
6. NuScale Power partnered with Oak Ridge National Laboratory to explore AI-guided nuclear fuel management. The collaboration aims to use artificial intelligence to optimize fuel performance and lifecycle planning for small modular reactors. The initiative underscores growing applications of AI in nuclear operations and could enhance NuScale’s technology proposition.
7. AI cloud firm Nebius reported surging capital expenditures to secure GPUs and expand data centers. The company disclosed a multi-fold increase in capex and rapid revenue growth as demand for NVIDIA-based infrastructure accelerates. Despite revenue gains, losses widened as investment outpaced top-line, and shares softened on the update.
8. Equinix issued strong annual revenue guidance, citing accelerating AI and cloud interconnection demand. The data-center REIT projected top-line growth above consensus and pointed to continued capacity expansion. Shares rose as investors priced in secular tailwinds from AI workloads and hyperscale partnerships.
9. U.S. weekly initial jobless claims came in above consensus, but remained consistent with a resilient labor market. Claims totaled 227,000, modestly higher than estimates, while prior-week figures were revised. The data keeps attention on inflation trends and the policy path as markets assess the timing and extent of potential rate cuts.
10. Bill Ackman’s Pershing Square disclosed a sizable stake in Meta, backing its AI strategy across platforms and ads. The fund characterized Meta as a clear AI beneficiary, with potential in recommendations, advertising, and assistants. While the position reflects high conviction, investors continue to weigh heavy AI capex against long-term profit potential.
---Sources: Reuters, Dow Jones, Tiger Newspress, public market dataDisclaimer:
This content is for reference only and does not constitute investment advice.
