Wall Street Today: Hungover Americans Push Market Higher After Weekend Football, Tariff Talk

Kevin Travers joined discussion · Feb 10 21:25

Wall Street Today: Hungover Americans Push Market Higher After Weekend Football, Tariff Talk

Monday markets climbed after Americans watched the Philidelphia Eagles destroy the Kansas City Chiefs in the Super Bowl Sunday, a televised murder so graphic Trump left the game early in disgust to tweet about pennies.

In January, the Philidelphia Manufacturing index climbed to one of its highest readings in history, and last night, Americans watched as the city of brotherly love used its industrial might to put so much pressure on Chiefs QB Patrick Mahomes that he threw two interceptions.

At 4 p.m. ET., the $Nasdaq Composite Index (.IXIC.US)$ is leading the way, up 98 bips. The $S&P 500 Index (.SPX.US)$ is trading 67 bips higher, and the $Dow Jones Industrial Average (.DJI.US)$ is up 38 bips.

MACRO

The New York Federal Reserves consumer survey came out Monday, showing the median level respondents felt prices would inflate in one year is about 3%, lower than Michigan's scary 4.3% inflation number that came out from survey data on Friday.

SECTORS

Within trending industries in the news, steel and metal stocks climbed after President Trump talked tariffs on Sunday, before watching the Kansas City Chiefs lose the Super Bowl to the Philidelphia Eagles. East Coast Beast Coast. $United States Steel (X.US)$ and $Nucor (NUE.US)$ are up more than 3% and 5%, respectively while $Alcoa (AA.US)$ is trading up more than 3% and $Cleveland-Cliffs (CLF.US)$ soared 18%.

Elsewhere in the economy, $Crude Oil Futures(MAY5) (CLmain.US)$ climbed 2%, while Gold hit all time highs. $Bitcoin (BTC.CC)$ climbed to $97,000, not much of a reaction after a very muted Super Bowl in terms of Crypto content.

MOOVERS

$Super Micro Computer (SMCI.US)$ options volume jumped Monday as the stock rallied 14% a day ahead of a scheduled business update for the IT solutions provider that has previously missed deadlines for filing financial reports.

$NVIDIA (NVDA.US)$ is up more than 3%, while $Broadcom (AVGO.US)$ and $Micron Technology (MU.US)$ are trading around 4% higher. $Meta Platforms (META.US)$ shares are almost flat after the company announced earlier that it's having layoffs.

$McDonald's (MCD.US)$ climbed after reporting earnings with quarterly revenue below expectations but evidence markets outside U.S. showed improvements, especially Japan and the Middle East. Shares are up more than 4%.

$Charles Schwab (SCHW.US)$ declined 2.6% after TD Bank said it would sell its stake of the broker, about 184.7 million shares, or a 10.1% economic ownership, of Schwab's common stock. The brokerage has agreed to buy $1.5 billion of its shares from TD when the offering is completed.

$ON Semiconductor (ON.US)$ fell 5.1% after the firm reported fourth-quarter earnings that missed Wall Street expectations and issued weak guidance.

$BP PLC (BP.US)$ climbed after The Wall Street Journal reported Elliott Investment Management has built a stake in the oil company.

$Rockwell Automation (ROK.US)$ was up 7.7% after posting earnings above analysts' expectations for fiscal first-quarter earnings and said bookings rose 10%.

$Semtech (SMTC.US)$ fell 26% after the chip maker on Friday said it expects net sales in fiscal 2026 from its CopperEdge products used in active copper cables to be lower.

$S&P 500 (LIST91326.US)$

Word from the herd: Mooers, what are you watching?

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