Here are the most important news investors need to start their trading day:
1. Record broken
Maybe you’ve already heard this one in 2024: The Dow Jones Industrial Average closed at a new record on Monday. The 30-stock Dow Jones ended the day up 125.69 points, or 0.33%, to 38,797.38. THE Nasdaq Composite and the S&P500 both declined slightly, to 0.3% and 0.09%, respectively. Looking ahead, investors (and the Federal Reserve) will be watching January’s Consumer Price Index report on Tuesday, which will provide the latest indication of how inflation is affecting the economy. Follow live market updates here.
A JetBlue Airbus A320 jetliner arrives from Tampa to New York’s JFK International Airport as the Manhattan skyline looms in the background, February 7, 2024.
Charly Triballeau | Afp | Getty Images
Actions of JetBlue soared 15% in extended trading Tuesday morning after activist investor Carl Icahn announced he was taking a nearly 10% stake in the company. Icahn, who accumulated the position in January and February, said the airline’s shares were undervalued. Over the past 12 months, JetBlue’s stock has fallen more than 27%. This isn’t Icahn’s first venture into the airline industry. He took TWA private in the late 1980s, but that airline struggled and eventually filed for bankruptcy. The news came the same day JetBlue’s new CEO Joanna Geraghty took the helm, and also comes as the carrier faces profit, cost control and reliability issues.
3. Shrove Tuesday
A person leaves a Tim Hortons store on Yonge Street in Toronto.
Lance Mcmillan | Toronto Star | Getty Images
Tuesday morning saw another round of profits for companies in the food and beverage sector. Coca-ColaSales of exceeded Wall Street estimates, generating revenue of $10.85 billion, compared to $10.68 billion expected by analysts polled by LSEG. The drinks giant said the price hike helped offset a decline in volumes in North America. International restaurant brands, which operates restaurants including Tim Hortons and Burger King, also beat revenue and net income estimates. Coffee chain Tim Hortons was a bright spot for the company, as its same-store sales rose 8.4% during the quarter, beating StreetAccount’s estimates of 4.7%.
4. Dynamic Bitcoin
Bitcoin continues to climb. The flagship cryptocurrency surpassed $50,000 on Monday and at one point reached its highest level since December 2021. According to experts, it is helped by various factors, including the upward trend in the stock market, as well as increased easing of monetary policy in China. . “$50,000 is a milestone for Bitcoin after the launch of spot ETFs last month not only failed to cause a move above this key psychological level, but led to a sell-off and deep introspection on these new Bitcoin products,” said Antoni Trenchev, co-analyst. -founder of crypto services company Nexo.
5. Above all
Patrick Mahomes #15 of the Kansas City Chiefs holds the Lombardi Trophy after defeating the San Francisco 49ers 25-22 in overtime in Super Bowl LVIII at Allegiant Stadium on February 11, 2024 in Las Vegas, Nevada.
Steph Rooms | Getty Images Sports | Getty Images
Super Bowl 58 was the most watched television broadcast of all time. An estimated 123.4 million people watched the game, which went into overtime for only the second time in NFL history. CBS Sports said that number included viewers across all platforms and was up 7% from last year’s 115.1 million average viewers, which set the previous record. CBS also said it was the most broadcast Super Bowl in history as people watched it. Paramount+ to see the Kansas City Chiefs beat the San Francisco 49ers.
—Lisa Kailai Han, Brian Evans, Sara Salinas, CNBC’s Amelia Lucas, Tanaya Macheel, Sarah Whitten and Christine Wang contributed to this report.
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