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Below are AI-generated insights on today’s biggest premarket moves, powered by MarketReader technology.

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Thursday, February 15, 2024 

The overall market is currently experiencing normal macro volatility.

Some of the largest moves in the market today include: Gold has experienced a move of +0.5%. US 10Y Treasury has experienced a move of +0.3%. 

US jobless claims unexpectedly fell to 212,000 in the week ending February 9th, signaling a tight labor market and potentially supporting a hawkish Federal Reserve stance. 

Meanwhile, Canada’s housing starts dropped more than expected by 10% in January to an annualized rate of 223,589 units.

In Japan, industrial production growth for December was revised down from initial estimates but still marked the strongest rise since June.

These economic data releases come ahead of speeches from Federal Reserve officials on February 15th that could drive volatility across financial markets as investors seek clarity on future monetary policy amidst global recession concerns highlighted by GDP contractions in Japan and central bank discussions around inflation dynamics.

AI-generated summaries of notable ETF moves:

VanEck Semiconductor ETF (+0.7%) was positively influenced by the strong performance of its top contributors, TSM (+1.4%), AVGO & INTC (both +1.2%). Additionally, news of a price target increase for Nvidia drove up TSM’s stock due to increased demand for AI technology in which they are a key supplier. The correlation between VanEck and Russell 2000 Index suggests some similarity in their price movements without providing specific reasons or causation.

BITCOIN | BTC/USD $52166 +1.0%
Bitcoin’s price has moved +1.2%. Anticipation of an ETH ETF launch and positive sentiment towards cryptocurrencies like Ethereum may be driving the movement. Influential figures predicting a bullish outlook for Bitcoin also contribute to market optimism. Social media buzz reflects excitement about recent price surge, adoption by major companies, but regulatory challenges are mentioned as well. Bitcoin’s correlation with Microstrategy suggests some influence from its 3.47% return on Bitcoin’s movement.

AI-generated summaries of notable stock moves:

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(Even if you don’t have an account, you can still see real-time summaries of the top 6 most unusual asset moves at the moment)

Twilio Inc | TWLO $63.90 -11.6%
Information Technology, Internet Services & Infrastructure
Twilio Inc’s stock price decreased significantly despite beating Q4 earnings estimates with higher EPS and revenues. However, their revenue guidance for Q1 fell short of expectations. The company also announced leadership changes as the CEO resigned. Investors will monitor how Twilio navigates challenges to achieve profitability in 2024. 

Deere & Co | DE $370.75 -3.7%
Industrials, Agricultural & Farm Machinery
Deere & Co reported Q1 earnings higher than expected with EPS of $6.23 and revenues of $12.2B, beating estimates by 17.96%. Despite this positive news, the stock price decreased -3.5% following the report due to lowered FY24 net income guidance and a decrease in earnings compared to last year’s figures ($6.23 per share vs $6-55). The company also cut its profit forecast for fiscal 2024 due to high borrowing rates impacting farmers’ equipment purchases and falling crop prices. 

Epam Systems Inc | EPAM $299.70 +7.8%
Information Technology, IT Consulting & Other Services
EPAM Systems Inc reported higher than expected Q4 earnings and revenues, as well as providing positive guidance for FY 2024. Linked to a decrease in YoY sales, the company’s stock price has increased (+7%) since previous close. This strong performance may be influenced by broader market movements, with a correlation of 0.58 to the Russell 2000 Index during this period. EPAM appears to be outperforming its sector peers recently. 

Cisco Systems Inc | CSCO $48.33 -4.0%
Information Technology, Communications Equipment
Cisco Systems Inc’s stock (-4.1%) fell due to tepid demand for networking gear and reduced annual revenue forecast, blaming weak macro environment and cautious deal scrutiny as reasons behind the decline. Despite challenges, Cisco trades at a lower PE multiple compared to rivals Juniper Networks’and Arista Networks’, indicating potentially attractive investment opportunities. 

CBRE Group Inc | CBRE $91.00 +4.9%
Real Estate, Real Estate Services
CBRE Group Inc reported higher than expected Q4 earnings per share ($1.38 vs $1.18) and revenues ($8.9B vs $8.4B). Their EPS guidance for FY 2024 is set at $4.25-$4. This positive company-specific news may have contributed to CBRE’s price increase of +4.9% since the previous close, despite a moderate positive relationship with the Russell 2000 Index (US), which only returned +0.87%. Additionally, CBRE seems to be outperforming its sector peers in this time period.

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