Market Today: Live Updates

Technical indicators support a breakout above 4% for 10-year financial management returns, technical analyst Katie Stockton told CNBC’s “Squawk Box“Tuesday.

The yield is currently hovering near 3.94%. The yield moves inversely to the prices.

“The next resistance that makes sense is at the October 2022 high and that is around 4.34(%) for yield. We think there will be progress towards that resistance level,” said the founder and managing partner of Fairlead Strategies.

At the same time, the higher the correlation between bitcoin and that Nasdaq 100 and other risk assets are expected to return now that stocks are falling.

“If you look at bitcoin vs. resistance, it’s still in that 25,200 area. It needs to clear that level to look better because that would resolve the trading range to the upside and tell us that the range is more likely a reversal pattern vs. a continuing pattern,” she said.

—Michelle Fox

Bitcoin and Ether were up slightly on Tuesday morning and were on track to end the month higher, despite slipping earlier in the month.

Bitcoin is on track for a roughly 1% gain in February, according to Coin Metrics. Ether is up about 3% for the month. In January, bitcoin recorded an increase of 38.39% and its best month since 2021.

Investors were spooked earlier this month after what appeared to be the start of a potential regulatory crackdown on crypto companies in the US – including the Securities and Exchange Commissions enforcement actions against Krakenits Wells Notice of a future settlement against Paxos and the New York State Department of Financial Services ordering Paxos to stop minting the Binance USD (BUSD) stablecoin.

However, crypto investors are Fed Watch like much of the rest of the market, and economic data remains the biggest driver of cryptocurrency prices.

— Tanaya Machel

Here are some of the stocks making the biggest moves in premarket trading.

• Dish Network — The satellite company fell 6.3% during its multi-day outage and double downgrade from Bank of America. Dish Network shares are down 13.5% in 2023 amid a 61.8% decline over the past 12 months.
• Dick’s Sporting Goods — The sports-good dealer lost about 2% after being downgraded to neutrall from purchase of Citi. The company said it expects short-term gross margin pressure to continue.
• Celsius Holdings — The energy drink maker rose 3.9% after being upgraded by Credit Suisse to outperform from neutral. The Wall Street firm said the distribution deal with Pepsi is going well and the long-term potential is high.

To see more premarket movers, read the full story here.

—Michelle Fox

Goal shares were higher by 1% in early trading after said the dealer Earnings per share for the fourth fiscal year were $1.89, well above the $1.40 consensus of analysts polled by Refinitiv. Revenue came in at $31.4 billion, also above the $30.72 billion Wall Street consensus estimate from Refinitiv. Target also said holiday quarter sales were up about 1% from a year ago.

Earnings were muted as Target said it expects full-year earnings per share to be in the range of $7.75 to $8.75. Wall Street analysts expected a consensus of $9.23 a share, according to StreetAccount estimates.

Goal shares were higher by 1% in early trading after said the dealer Earnings per share for the fourth fiscal year were $1.89, well above the $1.40 consensus of analysts polled by Refinitiv. Revenue came in at $31.4 billion, also above the $30.72 billion Wall Street consensus estimate from Refinitiv. Target also said holiday quarter sales were up about 1% from a year ago.

Earnings were muted as Target said it expects full-year earnings per share to be in the range of $7.75 to $8.75. Wall Street analysts expected a consensus of $9.23 a share, according to StreetAccount estimates.

Bank of America chart analyst Stephen Suttmeier noted that while stocks have been under pressure this month, global breadth is holding up well.

“Strong market breadth for global equity indices suggests a broad-based rally, which is bullish ahead of a challenging market for equity investors in February,” Suttmeier said in a comment on Monday.

“The 73 country index weekly advance decline (AD) line made new highs in February. Sustaining this move to new highs would rhyme with previous bullish breakouts for this AD line from November 2020, March 2019, December 2016, January 2013 and March 2010” , he said.

Global stocks would end February with a loss. The iShares MSCI ACWI ETF – which tracks the All Country World Index – was down 2.8% for the month through Monday’s close. The S&P 500, meanwhile, has lost 2.3% in February.

Two tech themes have taken Wall Street by storm so far this year.

One of them is return of semiconductor stock, when demand bounces back on chips; the other is artificial intelligence, following the buzz around chatbot ChatGPT.

CNBC Pro screened for the top-rated ETFs with exposure to semiconductor and/or AI-related stocks (among others) using Morningstar data. The resulting funds were all rated four or five stars by Morningstar and have performed well over the past three years.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Occidental Petroleums stock fell 1% after hours after missing the top and bottom lines for the fourth quarter.

The energy giant reported adjusted earnings of $1.61 per share on $8.33 billion in revenue. Refinitiv’s estimates called for earnings per share of $1.80 on revenue of $8.66 billion.

The company also raised its dividend by more than 38% to 18 cents a share and announced a $3 billion share buyback plan.

This is where all the major averages stand as February trading comes to a close.

Dow Jones Industrial Average:

• Down 3.5% in February
• Down 0.8% so far this year
• 11% % record high
• 80.57%% discount on pandemic low

S&P 500:

• Down 2.3% this month
• Up 3.7% in 2023
• 17.36% discount record high
• 81.68% off pandemic low

Nasdaq Composite:

• Down 1% in February
• Up 9.6% year to date
• 29.27% ​​discount record high
• 72.92% off pandemic low

— Samantha Subin

Shares of Zoom video increased by 8% in extended trading after fourth quarter results and earnings beat Wall Street expectations.

The video communications company reported earnings of $1.22 per share on $1.12 billion in revenue. Analysts polled by Refinitiv had expected earnings of 81 cents a share on revenue of $1.10 billion.

Despite expectations for slower growth this year, Zoom also shared better-than-expected guidance for the current period.

— Samantha Subin, Jordan Novet

Stock futures opened slightly higher in overnight trading on Monday.

Futures tied to Dow Jones Industrial Average scored 45 points, or 0.14%, while S&P 500 and Nasdaq 100 futures increased by 0.13% and 0.15% respectively.

— Samantha Subin