📊 Inflation Print, Bad Day For Fed

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» Boeing ($BA) faces a deepening crisis as its share value drops over 25% due to a criminal investigation by the DOJ into a 737 Max incident. With the grand jury convened, Boeing grapples with regulatory scrutiny, manufacturing lapses, and a series of aviation incidents, further eroding public and investor confidence. (link)

» Oracle ($ORCL) surged 13% after its cloud revenue jumped 25% to $5.1 billion in the third quarter, beating expectations with significant cloud infrastructure contracts. The company's sales backlog reached $80 billion, showcasing its momentum in the competitive cloud market and driving positive forecasts for future growth. (link)

» Established in 2017, Athletic Brewing has swiftly become the leading player in the nonalcoholic beer market, holding a 19% share in the U.S. The company's success mirrors the growing demand for healthier beer options, with a 39% surge in 2020 and continued 32% growth in 2023, as it uniquely focused on nonalcoholic beers from the start to meet consumers' moderation preferences. (link)

» Bitcoin's latest rally has led to the creation of approximately 1,500 "millionaire wallets" daily, though this pace is slower than the 2021 bull market. The cryptocurrency's surge to over $72,000 is attributed to demand for U.S. exchange-traded funds holding Bitcoin, with the highest daily count of new millionaire wallets reaching 1,691 on March 1. (link)

» The stock rally stalled on Wall Street as investors awaited crucial inflation data, causing caution amid signs of the S&P 500 overheating after hitting record highs. Equities dipped, treasuries fell ahead of corporate debt sales, and Bitcoin reached $72,000 amidst the uncertainty. (link)

» Bitcoin has reached a new milestone, hitting over $72,000 for the first time, propelled by significant investments in U.S. Bitcoin ETFs and growing institutional and retail interest. The London Stock Exchange's decision to accept Bitcoin and Ether ETNs and Thailand's allowance for retail investors to buy overseas crypto ETFs further fuel the rally. (link)

» Nvidia's ($NVDA) reversal on Friday, despite hitting an all-time high earlier, raised concerns about a potential broader stock market unwind, especially given its significant contribution to the S&P 500's ($.INX) gains this year. Market observers warn about the overreliance on AI-driven stocks like Nvidia and the vulnerability of the market resting on the cyclicality of semiconductor businesses. (link)

Major earnings releases scheduled the next five business days 👇
Click here for a comprehensive list of earnings scheduled over the next 5 days (mkt cap $1bn+)

Economic results from yesterday are below, along with today’s schedule 👇 Click here for full schedule & live updates of Wall Street estimates.

You will face many defeats in life, but never let yourself be defeated.

Maya Angelou