Price Action
Across earnings, commodities, and geopolitical shocks, markets repeatedly reacted to specific catalysts rather than moving in a single direction. Strong company news produced sharp individual stock moves even as broader indexes remained cautious.
Macro
Oil prices jumped sharply after escalating tensions between the United States and Iran disrupted shipping through the Strait of Hormuz, pushing crude above $90 a barrel and raising concerns about the impact on global markets and the economy.
Earnings
Marvell Technology (MRVL) shares jumped after the semiconductor company reported stronger-than-expected quarterly results and raised its outlook, with artificial intelligence infrastructure demand driving significant growth in its data center business.
Earnings
Okta (OKTA) reported stronger-than-expected fourth-quarter earnings and revenue, sending the stock higher as investors reacted to momentum in new identity security products and enterprise deals. However, the company’s guidance pointed to slower growth ahead, highlighting a mixed outlook.
Earnings
Broadcom (AVGO) shares moved higher after the semiconductor giant reported strong quarterly results driven by surging artificial intelligence chip demand and issued a stronger-than-expected revenue outlook for the next quarter.
Earnings
Ross Stores (ROST) shares surged after the off-price retailer reported stronger-than-expected fourth-quarter results, highlighted by double-digit sales growth and robust comparable-store sales, while management projected continued expansion in sales and earnings.
Earnings
Best Buy (BBY) shares surged after the electronics retailer posted stronger-than-expected fourth-quarter profits, even as revenue and comparable sales declined and fiscal-year guidance came in below Wall Street forecasts.
Earnings
Target (TGT) shares moved higher after the retailer delivered a sizable fourth-quarter earnings beat and projected a return to sales growth in 2026, even as comparable sales fell for the 13th straight quarter.
Earnings
Norwegian Cruise Line (NCLH) shares fell sharply after the company missed revenue expectations and issued a weaker-than-expected 2026 profit forecast, overshadowing solid cost controls and occupancy gains.
Business Trends
AES agreed to a $15-per-share all-cash buyout valued at $33.4 billion in enterprise value, but shares fell sharply as investors reacted to the offer price and compared it to recent trading levels.
Macro
U.S.-Israeli strikes on Iran and Tehran’s retaliation have heightened risks to global energy supply, with oil prices poised to spike as markets reopen. The Strait of Hormuz disruption and OPEC+ output decisions are central to the stock market reaction.
Business Trends
Netflix (NFLX) rallied after walking away from its bid for Warner Bros. Discovery (WBD), clearing the path for Paramount Skydance (PSKY) to secure a $111 billion deal and reshaping the streaming landscape.