Morning Commentary
DeepSeek-R1 greatly impacted technology shares, as the Technology Sector (XLK) received a 4.9% haircut.
While the S&P 500 was down for the session yesterday, it was an awe-inspiring day. Outside of the drubbing in the NASDAQ Composite, there were significantly more advancers than decliners.
Advancers |
|
NYSE |
55.5% |
S&P 500 |
69.8% |
S&P 400 |
57.8% |
S&P 600 |
62.8% |
Pockets of Strength
Value continues to emerge, and low volume has picked up tremendous speed. On the other hand, growth and momentum took a serious drubbing.
Heat Map
Meta (META) was seen as the “winner” in the DeepSeek-R1 saga, followed by Apple (AAPL) and Amazon (AMZN), while Google (GOOG) is considered the most disadvantaged.
Technology Trillion Dollar Day
Top technology stocks lost $1.469 trillion on the session, with Nvidia (NVDA) leading the way with a $589 billion decline. It was the worst one-day loss in stock value in its history. Nvidia has distinguished itself by having endured eight of history's top eleven most significant market cap loss sessions.
The good news is that it came back every time.
Earnings
There were more earnings today, but the big day is tomorrow after the close when Microsoft (MSFT), Meta (META), and Tesla (TSLA) post results.
Today’s Session
We are seeing some pedestrian bounces in the hardest hit names from yesterday. Despite Wall Street circling the wagons, none of these bounces are convincing.
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2/14/2025 1:40 PM | Exhibiting Mixed Action |
2/14/2025 9:51 AM | MAKE LOVE, NOT WAR |
2/13/2025 1:35 PM | Bouncing Back |
2/13/2025 9:54 AM | Feast or Famine Setting In |
2/12/2025 12:59 PM | CPI Reaction Overdone |
2/12/2025 9:54 AM | MARKET RESOLVE |
2/11/2025 1:05 PM | Powell Testimony in Focus |
2/11/2025 9:40 AM | MOMENTUM RULES |
2/10/2025 1:18 PM | Tech Stocks Rebound |
2/10/2025 9:54 AM | INFLATED INFLATION FEARS |
2/7/2025 1:15 PM | Inflation Uncertainty |
2/7/2025 9:41 AM | BIG REMAINS BEAUTIFUL |
2/6/2025 1:00 PM | Quiet Day |
2/6/2025 9:43 AM | BOND DIGGING DOGE |
2/5/2025 1:28 PM | Recovering |
2/5/2025 9:29 AM | RETAIL RIDES THE WAVE AND WALL STREET FROWNS |
2/4/2025 1:03 PM | Financial Media in Overtime |
2/4/2025 9:52 AM | FRIENDS MAKING NICE |
2/3/2025 1:42 PM | Market Reacting to Tariff Headlines |
2/3/2025 9:37 AM | TARIFFS ARE HERE |
1/31/2025 1:33 PM | Mag Seven is Back |
1/31/2025 9:00 AM | WINTER IS HERE |
1/30/2025 1:33 PM | Bumpy Day |
1/30/2025 9:47 AM | POWELL WALKS THIN LINE |
1/29/2025 1:24 PM | Watching for Big Tech Earnings |
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