The Dow Jones Industrial Average decreased by 0.6%, and the Russell 2000 declined by 1.4%. Nasdaq Composite: 11,887.45, down 1%.
Chipotle Mexican Grill (CMG) has seen a decrease of more than three percent in their stock price following the announcement of their fourth quarter comparable same-store sales growth of five point six percent, which is significantly lower than the predicted seven point four percent. Shares of Fortinet (FTNT) surged over 12% in pre-market trading after the company predicted full-year revenue between $5.37 billion and $5.43 billion; surpassing the consensus estimate of $5.36 billion. Meanwhile, Uber Technologies (UBER) climbed more than +6% in pre-market trading after reporting Q4 revenue of $8.61 billion, stronger than the consensus of $8.47 billion.
On the earnings front, Cybersecurity firm Fortinet (FTNT) soared 10.9% in heavy volume, following a beat on its Q4 earnings per share and positive 2023 revenue guidance. Shares of Alphabet (GOOGL) experienced a 7.7% drop after an unfortunate incident occurred at its AI event, which was meant to showcase its new chatbot, Bard The bot encountered an error during its initial presentation. The stock dropped beneath its 200-day moving average, but regained stability at its 21-day line. Walt Disney (DIS) rallied after solid earnings and announcing 7,000 job cuts as part of its transformation plan under Bob Iger.
Jerome Powell, Chairman of the Federal Reserve, is set to give a speech at the Economic Club of Washington on Tuesday. His comments suggest the Fed will likely raise the fed funds rate by a smaller quarter points each at the March and May meetings, although data will determine the final decision. The yield on 10-year US treasury bonds decreased by 5 basis points to 3.58%.  The Nasdaq 100 futures (NDX:IND) rose by 1.2%, S&P futures (SPX) increased by 0.7%, and Dow futures (
The stock of CME Group rose
0. “Stocks Fall as Investors Keep Eye on Path of Interest Rates” The Wall Street Journal, 8 Feb. 2023, https://www.wsj.com/articles/global-stocks-markets-dow-update-02-08-2023-11675858404
1. “Futures Strong As Disney Jumps; Why This Rally Looks Healthy” Investor’s Business Daily, 9 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-disney-jumps-why-this-market-pullback-looks-healthy/
2. “Markets Today: Stocks Fall on Mixed Corporate Earnings Results” Barchart, 8 Feb. 2023, https://www.barchart.com/story/news/14015987/markets-today-stocks-fall-on-mixed-corporate-earnings-results
3. “Stocks Fall Back on Mixed Earnings and Higher Bond Yields” Barchart, 8 Feb. 2023, https://www.barchart.com/story/news/14021624/stocks-fall-back-on-mixed-earnings-and-higher-bond-yields
4. “Stock Market Closed Near Day’s Lows; Pure Barre Parent Gaps Down Sharply” Investor’s Business Daily, 8 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/stock-market-inches-up-from-lows-google-demo-causes-stocl-to-drop
5. “Nasdaq, S&P, Dow futures rally ahead of jobless claims” Seeking Alpha, 9 Feb. 2023, https://seekingalpha.com/news/3934080-nasdaq-sp500-dow-jones-stock-market
6. “Counter Moves, Powell’s Speech, Russia Deficit, Microsoft and Google’s AI Rumble” RealMoney, 7 Feb. 2023, https://realmoney.thestreet.com/markets/counter-moves-powell-s-speech-russia-deficit-microsoft-and-google-s-ai-rumble-16115359
7. “Nasdaq, S&P Futures Dip As Fed’s Data-Dependency Introduces Caution – Invesco QQQ Trust, Series 1 (NASDAQ” Benzinga, 8 Feb. 2023, https://www.benzinga.com/news/earnings/23/02/30803509/nasdaq-s-p-futures-dip-as-feds-data-dependency-introduces-caution-disney-earnings-on-tap
8. “Nasdaq, S&P, Dow futures rally ahead of jobless claims” msnNOW, 9 Feb. 2023, https://www.msn.com/en-us/money/markets/nasdaq-sandp-dow-futures-rally-ahead-of-jobless-claims/ar-AA17hzYM
9. “Stock Market News Today: GOOG and Tech Selloff Lead Stocks Lower” TipRanks, 8 Feb. 2023, https://www.tipranks.com/news/stock-market-news-today-futures-slide-as-markets-reassess-powells-words
 The Dow Jones Industrial Average decreased by 0.6%, and the Russell 2000 declined by 1.4%. Nasdaq Composite: 11,887.45, down 1%.