Everyone’s Missing The Big Story Within The Big Story — Franklin Mutual Analyst Caught It — 4:50 AM CT — February 22, 2024

Locator: 46867TECH.

Absolutely scary good.

Nvidia’s numbers unprecedented. Absolutely unprecedented.

Jensen Huang gave six names that will benefit from Nvidia’s blades.

Two most useless CEO interviews on CNBC yesterday? BofA (BAC), Intel (INTC). Stock market reflected that. Tech soaring today; INTC down almost a percent. BAC up about 3/4ths of a percent.

CNBC, 5:00 a.m. CT:

• first story: Nvidia. Closing in on $2 trillion. Moore’s Law re-visited.
• second story: Rivian. Slashing jobs, not mentioned: Rolls Royce, Ferrari, Mercedes Benz. Porsche. VW.
• third story: Caribbean Cruise, “the circus” is back and downhill after that. 
• amazing: hasn’t mentioned the ATT story: still a problem. Others affected: Apple, Verizon, T-Mobile. Not affected: Spectrum, Hulu (earlier, yes, but now, no problems), Microsoft.

What to buy today? Wait for “Halftime Report.”

Moderna beats. Stock surges.

PXD declares dividend: $2.56. Was $1.25 previous quarter, $1.10 one year ago.

S&P hits all-time high at the open.

WTI down slightly. Big Oil down a little. US oil in storage surging, 

 

Saudi:

Top of the Dow: Crowdsource, IBM, MSFT.

ATT outage getting worse. 

 

Existing home sales: on pace for highest rate since August, 2023, and this is for January, an historically slow month for sales. 

You don't often see numbers like this. a reminder, in the old days, rule of thumb, DOW: S&P was 10:1.