Daily Digest: Friday 23rd February
USA
Despite a strong post-market performance after Thursdays close, the momentum behind Nvidia ($NVDA) shares seems to have weakened, with prices only rising 0.36% during Fridays session. Despite this the S&P 500 and Dow were still able to break fresh all-time highs, up 0.03% and 0.16% respectively.
Intuitive Machines ($LUNR) successfully landed an unmanned spacecraft on the Moon, the first US landing since 1972 on Thursday. Shares rocketed 15.82% during Friday trading. However, shortly after the close shares made a humbling re-entry, falling 29.09%, at the time of writing.
The US has also ramped up sanctions targeting a number of additional Russian entities and people of interest, marking a further escalation of political tensions following the death of Russian opposition leader Alexei Navalny.
Europe
The FTSE 100 managed to continue its climb throughout Friday’s session, rising 0.28%.
Movement was largely driven by the earnings call of lender Standard Chartered (£STAN), who announced a 22% increase in annual profits. Standard Chartered also launched a share buyback program targeting the poor share price performance of the firm, with £1bn initiated in 2024 and a further £4bn in buybacks pledged by 2026.
Rest of the World
Despite a worsening geopolitical backdrop, Crude Oil prices have taken a surprising hit, falling -2.6% to $76.57 per barrel.
The Shanghai Stock Exchange (¥SSE) Composite Index traded +0.55% higher with prices reaching ¥3,004.88, marking a weekly high as policymakers move to stabilise and stimulate the domestic economy.
What to watch on Monday
Nikkei 225 (During the first session back after Emperor’s Day celebrations, will the Nikkei resume its rise or begin to cool?)
Japanese Core CPI
US New Home Sales
Nvidia ($NVDA) (Will investors maintain momentum into a new trading week?)
Berkshire Hathaway INC ($BRK.B) (Earnings are to be posted on Saturday 24th)