Live Markets: Dow Sinks, TSLA, AAPL Gain

The markets are focused on one thing today – inflation – and it’s sending the three broader indices spiraling. The Consumer Price Index (CPI) came in hotter than expected, with a 0.5% increase in January that sent the annual rate back up to the 3% threshold. In response, the Dow Jones Industrial Average sank as much as 400 points at its worst level followed by the Nasdaq Composite and S&P 500 with similar percentage declines. Tesla (Nasdaq: TSLA) is recouping some of its recently losses with a 3%-plus gain. Nvidia (Nasdaq: NVDA) is pressuring most of the Magnificent 7 amid profit taking ahead of earnings.

Here’s a look at the damage:

Dow Jones Industrial Average: Down 399.47 (-0.90%)
Nasdaq Composite:  Down 89.15 (-0.46%)
S&P 500: Down 41.74 (-0.69%)

Market Movers

Apple (Nasdaq: AAPL) is extending its gains amid reports of an expansion into humanoid and non-humanoid robots. The stock is up almost 1% on the day. The Trump administration has selected an Apple employee to serve as the top safety regulator for regulatory probes into Elon Musk’s Tesla.

While Nvidia is down 1.8%, its partner Super Micro Computer (Nasdaq: SMCI), which provides AI infrastructure to the chip maker, is climbing 4% higher. Supermicro is benefiting from solid Q2 growth coupled with robust Nvidia demand.

Meta (Nasdaq: META) architected some changes to its accounting methods that could reportedly bolster its profits by billions of dollars in 2025.

Wall  Street Moves

Wall Street analysts are updating their views on these stocks:

• UBS  reiterated its “buy” rating on Walmart (NYSE: WMT), and the stock is up fractionally. The big-box retailer reports its latest quarterly earnings next week.
• Needham analysts have upgraded their view on GlobalFoundries (Nasdaq: GFS) from “hold” to “buy,” saying its well positioned to rise from a “cyclical downturn.”

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