00:00All right. Futures under pressure today ahead of Thursday's open. S&P futures down 0.53%.
00:15Dow futures down 0.35%. That's interesting. And the NASDAQ leading the way lower by 0.77%
00:23to the downside. Now, let's take a look at some cues from last session here. Energy materials
00:29and real estate stocks led the gains on Wednesday, while information technology and
00:34communication services stocks dragged the market lower during an aggressive rotation away from
00:40growth. Now, remember, Jay Rice said in our chat yesterday, it seemed that the market was favoring
00:45value. We got more indications of that throughout the session yesterday. On Wednesday, the benchmark
00:52indices ultimately finished mixed, with the NASDAQ dropping about 351 points as investors shifted
00:58focus. Moving forward, corporate results are the primary driver for the market, with Amazon
01:03taking center stage as it reports after the bell today. In tandem, market participants will
01:09evaluate the latest weekly jobless claims report released this morning for new insights into
01:15the durability of the U.S. labor market. And while we're on that right now, according to
01:21Benzinga Pro here, let's actually take a look at that. Challenger job cuts for January are
01:27108,000.435. That was versed the prior read of only 35,000. So it does look like that accelerated
01:35quite a bit here. Meanwhile, the 10-year Treasury bond yielded 4.2 percent and the two-year bond was at
01:433.55 percent. The CME Fed watch tool projections show that the market is pricing in a 90.1 percent
01:50likelihood of the Federal Reserve, leaving the current interest rates unchanged during the March meeting.
01:55I have several stocks in focus for you here today. The first one's going to be Alphabet.
02:02Ticker here is G-O-O-G or G-O-O-G-L, depending on which class of shares that you trade. That dropped
02:091.68 percent in the pre-market on Thursday, despite reporting better than expected fourth quarter
02:14financial results on Wednesday after the market closed. Really quick, Alphabet Q4 EPS of 282 beat the
02:21263 estimate and sales of 113.82 billion beat the estimate of 111.30 billion. So beat on the top and
02:30the bottom line. Again, it was their CapEx spend that was between 175, 185 billion. Just absolutely
02:37incredible. We'll dive into that a little bit more here. The next stock on our list is going to be
02:41Workday. The ticker here is W-D-A-Y, and it fell 2.44 percent after announcing that it will eliminate
02:482 percent of its workforce and expects 135 million in restructuring charges.
02:55Amazon is the next stock on our list. As mentioned, it's going to be reporting earnings tonight.
03:00Shares were up 0.11 percent ahead of its earnings, scheduled to be released after the bell.
03:04Analysts are expecting earnings of $197 per share on revenue of $211 billion.
03:11Broadcom is the next stock on our list. The ticker on this one is AVGO. It jumped 5.36 percent
03:18following Google's forecast of a massive jump to $175 to $185 billion in CapEx this year.
03:26Broadcom helps design and manufactures Google's Tensor Processing Units, or TPUs,
03:32the company's in-house specialized AI chips for AI infrastructure.
03:37The last stock on our list is going to be Shell. The ticker here is A-S-H-E-L,
03:42and it was 2.4 percent lower after posting adjusted earnings of $3.26 billion
03:47for the fourth quarter, which missed analyst expectations.
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