"The markets are a mixed bag in the first trading session of February as technology stocks reach a fork in the road. Bullish performance out of Oracle ( Nasdaq: ORCL) stock is being overshadowed by a declining Nvidia ( Nasdaq; NVDA) share price amid uncertainty around its OpenAI investment, damaging overall market sentiment to kick things off. Oracle has recaptured the spotlight as traders and investors cheer the legacy software giant's plans to pour $50 billion into AI-related capex."
"Palantir ( Nasdaq: PLTR) is tacking on 1.6% today ahead of the company's earnings report after William Blair analysts lifted the stock's rating to "outperform." PLTR stock has shaved off approximately 30% of its value in the past three months. Coinbase Global ( Nasdaq: COIN) is spiraling by 4% today as the Bitcoin price distances itself further from the key $100,000 level while investors and traders begin to worry about the strength of the digital asset platform's balance sheet."
Markets opened mixed in the first trading session of February, with the Dow up about 106 points, the Nasdaq modestly higher, and the S&P 500 nearly flat. Oracle surged after plans for $50 billion in AI-related capital spending. Nvidia fell roughly 2% amid reports that plans for a massive $100 billion stake in OpenAI encountered obstacles. Palantir rose ahead of earnings after a William Blair upgrade despite a roughly 30% decline over the prior three months. Coinbase slid as Bitcoin pulled back from $100,000 and balance-sheet concerns increased. Newmont gained on commodities strength, and AMD advanced amid volatile trading.
Read at 24/7 Wall St.
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