Here is what you need to know on Thursday, February 18:

Stocks remain subdued on Thursday as inflation continues to worry investors and earnings season completion diminishes corporate news to help the bullish theme. The dollar remains under pressure and commodity prices and Oil in particular take a breather from the recent bull run. Bitcoin continues to remain strong, currently trading at over $50,000 with bulls calling for it to test $60,000! 

S&P 500 News Today

Jobless claims rise to 861k disappointing as expectations were 765k. Housing starts also drop and Philly Fed Index beats expectations.

Walmart misses on top-line EPS but sales and online remain strong. Shares fell as top line miss caught investor attention. Walmart also announced another dividend increase and a $20 billion share buyback.

Inflation continues to grab the headlines with US10 Year rising and Junk falling.

US Import prices rise to 1.4% versus 1% expected and export prices were also much higher.

Bank of japan hints at slowing or amending ETF purchases.

Gamestop is back in focus as Reddit, Robinhood, Melvin Capital all testify in Washington.

Pfizer says its vaccine is effective against the UK variant but is developing a booster for the South African variant.

ECB says don’t mistake temporary inflation boost as sustainable and that ample stimulus remains essential.

Marriott results beat estimates, bucking the trend for travel and leisure stocks.

Tesla is to cut prices for some of its basic specifications but increase prices for performance models.

Credit Suisse disappointed as investment banking continued to shine but was overshadowed by low-interest rates hitting margin.

See Forex Today

European markets were largely weaker on Thursday. The Dax was positive by 0.3% while FTSE was down 0.8% and EuroStoxx down 0.3%. 

Results from Airbus, Barclays, Orange, Credit Suisse all disappointed and were lower. 

Asian markets were lower with Hang Seng closing 1.58% lower and Nikkei 0.2% lower. 

US Futures were all lower as tech stocks continued to slide after record runs. Facebook suffered from its decision to block newsfeeds in an escalation of its dispute with the Australian government and Apple also slid in pre-market. dow was down 0.35%, Nasdaq down 0.7% and S&P down 0.4%.

US Automakers and other sectors reliant on semiconductor chips wrote to President Biden asking for funding to construct US chip production facilities. 

Ups and Downs

Tilray was downgraded by Benchmark and Piper Sandler.

BIDU saw price target increases from Mizuho and Jeffries.

CAKE saw multiple price target increases from Jeffries, Piper Sandler and Credit Suisse.

SHOP also was the subject of multiple price target raises.

Moderna price target was raised at Jeffries.

Stocks covered

Palantir PLTR

Churchill CCIV

Palantir (PLTR)

CCIV

Tilray (TLRY)

Zomedica (ZOM)

Sundial Growers Inc (SNDL)

Nokia

Ideanomics (IDEX)

GEVO

Churchill Capital IV 

Hasbro (HAS)

Coca-Cola

Twitter

Virgin Galactic

General Motors

Gamestop

Atossa Therapeutics

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