GuShiio.com ① The Nasdaq China Golden Dragon Index closed up 1.6%;
② Wal-Mart fell 6.53%, raising doubts about the economic outlook;
③ The concept of quantum computing continued its rise, with D-Wave rising 13%;
④ The CEO of Game Station increased his stake in Ali to US$1 billion.
Cailian News, February 21 (Editor Zhao Hao)On Thursday (February 20), the three major U.S. stock indexes fell collectively.
At the close, the Dow Jones index fell 1.01% to 44,176.65 points; the S & P 500 index fell 0.43% to 6,117.52 points, suspending its continuous pace of breaking highs; and the Nasdaq Composite Index fell 0.47% to 19,962.36 points, falling below 20,000 points.
Wal-Mart’s share price closed down 6.53%, the largest decline since November 2023, leading the decline in Dow components. The company’s pre-market performance guidance was lower than analyst expectations, concealing its exceeded expectations. Quarterly earnings.
Tom Fitzpatrick, managing director of R.J. O’Brien Associates, said,”If Wal-Mart’s performance guidance is poor, you should be vigilant, which may mean that the spending power of the average consumer has been exhausted.”
“Wal-Mart news has further raised concerns about the health of consumers,” commented Matt Maley, equity strategist at Miller Tabak + Co.
Maley added,”We have seen some disappointing consumer confidence data and last week’s retail sales data were well below expectations, raising some questions about how strong economic growth will be for the rest of the year.”
Performance of hot stocks
Large technology stocks were mixed, with Apple up 0.39%; Nvidia up 0.63%; Microsoft up 0.53%; Amazon down 1.65%; Google C down 0.26%;Meta down 1.27%; Tesla down 1.71%; Broadcom down 0.87%.
The banking sector fell overall, with (ranked by market value) JP Morgan Chase down 4.46%, Bank of America down 1.54%, Wells Fargo down 2.14%, Morgan Stanley down 4.51%, Goldman Sachs down 3.87%, and Citigroup down 3.1%.
Quantum computing concept stocks continued their gains, with D-Wave Quantum up 13%, SEALSQ up 10.36%, Arqit Quantum up 6.47%, Rigetti Computing up 3.99%, and Quantum up 3.6%.
Palantir fell 5.17%, briefly falling above 14% during the session. AppLovin fell 8.94%, its worst one-day performance since December last year.
In terms of Chinese stocks, the Nasdaq China Golden Dragon Index closed up 1.6%, and once rose above 4.7% at the beginning of the session.
company news
[Netflix announces a $1 billion investment to make movies in Mexico by 2028]
Netflix CEO Ted Sarandos announced in Mexico City on February 20 that Netflix will invest US$1 billion to make movies in Mexico by 2028. The investment will be used to produce approximately 20 works per year.
[Ali CEO Wu Yongming: Infrastructure investment in cloud and AI in the next three years is expected to exceed the total of the past ten years]
At a telephone conference with analysts in the Q3 financial year 2025, Alibaba Group CEO Wu Yongming said that infrastructure investment in cloud and AI in the next three years is expected to exceed the total of the past ten years. Investment areas include infrastructure construction for AI and cloud computing; investment in AI basic model platforms and AI native applications; and investment in AI transformation and upgrading of existing businesses.
[Game Station CEO increases his stake in Alibaba to US$1 billion]
Game Station CEO Ryan Cohen increased his stake in Alibaba to $1 billion. Cohen has been known as the king of meme stocks because he helped spark an explosive backlash from Game Station and other companies during the epidemic. According to people familiar with the matter, in recent months, his personal stake in Alibaba has increased to about US$1 billion, or about 7 million shares. The large bet on Alibaba reflects Cohen’s optimism about China’s long-term economic growth prospects.
[Rivian expects to deliver 46,000 to 51,000 vehicles throughout the year, which is short of market expectations]
Rivian expects to deliver 46,000 to 51,000 vehicles throughout the year, and analysts expect 54,900 vehicles.
[Block’s adjusted EBITDA in the fourth quarter was US$757 million, higher than market expectations]
Block’s adjusted EBITDA for the fourth quarter was $757 million, and analysts expected $741.6 million.
[South American e-commerce Mercadolibre’s fourth-quarter net revenue of US$6.1 billion exceeded market expectations]
South American e-commerce company Mercadolibre’s net revenue for the fourth quarter was US$6.1 billion, with analysts expecting US$5.96 billion.
