Tech's Winning Streak Continues

S&P 500 & NASDAQ Hit Record Highs: The S&P 500 closed at a new all-time high of 4,864.11, rising 0.3%, while NASDAQ also ascended by 0.4%, setting its own record. In contrast, the Dow experienced a slight decline.

Tech Stocks Lead the Surge: The continuous bullish sentiment in technology stocks is a major driver behind the stock market's upward trajectory.

Mixed Performance Across Sectors: Despite the overall market uptrend, there's a mixed performance across different sectors, with tech showing strength while some industrials and consumer stocks falter.

3M Company Disappoints: 3M Company's stock dropped about 11% due to weaker full-year guidance, overshadowing its Q3 results.

Lockheed Martin Underperformance: Lockheed Martin stock also fell by 4% following a decline in Q4 sales.

United Airlines Excels on Earnings: Contrasting with the industrials, United Airlines' stock rose over 5% thanks to strong Q4 results driven by high holiday travel demand, despite a projected Q1 loss.

General Electric's Mixed Results: GE's stock fell by 1% after presenting a disappointing Q1 outlook, despite surpassing Q4 earnings expectations.

Verizon's Positive Outlook: Verizon's stock jumped over 6% following an optimistic annual earnings forecast, suggesting strong growth potential for 2024.

Netflix Surprises with Subscriber Growth: Netflix's stock increased in after-hours trading thanks to substantial subscriber growth and revenue that exceeded expectations, although earnings per share slightly missed the mark.

Jack Ma's Increased Investment in Alibaba: Jack Ma, co-founder of Alibaba, has been actively purchasing shares in the company, signaling a potential change in sentiment.

Joe Tsai's Involvement: Alongside Ma, Joe Tsai, through his investment vehicle, invested significantly in Alibaba's U.S.-traded shares.

Market Reaction to Alibaba Movements: Alibaba's stock saw an increase in pre-market trade, despite a downward trend year-to-date, with these investments by key figures drawing attention.

Homebuilders Face Pressure: Companies like PulteGroup, Lennar, and DR Horton saw stock declines, with DR Horton dropping over 9% due to disappointing Q1 earnings and margin pressures.

Tech Continues to Gain: Ahead of Netflix's earnings report, the technology sector added to its recent gains, reflecting ongoing investor confidence.

Crude Oil Developments: U.S. crude stockpiles saw a larger-than-expected fall, with WTI futures trading at $74.53 a barrel post-report.

Impact of Weather on Oil Production: Production disruptions due to severe weather, especially in North Dakota, contributed to the decline in crude inventories.

Fluctuating Inventory Levels: The API reported a significant increase in gasoline inventories, while distillate stocks decreased.