In short
Pre-market market update covering five major catalysts: the Fed’s interest-rate decision, Elevance Health’s earnings and Medicare Advantage rate proposal impact, SK Hynix’s earnings and AI-focused U.S. company plan, ASML’s order surge, and Texas Instruments’ earnings/guidance driving chip-sector gains.
Guests
No guests mentioned; hosts include Becky Quick (co-host of Squawk Box).
Key claims
Markets expect no change to the federal funds rate; focus on Jay Powell’s press conference for future rate-path clues. Elevance shares fell after proposed nearly flat Medicare Advantage rates. SK Hynix reported record full-year profit and plans a new U.S. AI company. ASML orders more than doubled expectations. Texas Instruments missed estimates but raised current-quarter outlook.
Notable examples
Elevance down 14% then another 6.5%; ASML up ~6%; Texas Instruments up ~8.5%; Western Digital up ~8%; Seagate up ~10.5%.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Chapters
Tap a time to open that second in VOMarket Updates and Key Earnings Announcements
1:01 to 2:18
Get insights on the latest market movements and important earnings reports.
“The Fed will announce its latest interest rate decision.”
Transcript
Automatic transcript. May contain errors.0:28Your data lives everywhere. and a really smart one you can set? Earning cash back on what you buy every day. And with Discover, you can. Get this. Discover automatically matches all the cash back you've earned at the end of your first year. Seriously, all of it. And we trust you to make smart decisions. After all, you listen to this show. See terms at discover.com slash credit card. Hi, I'm Becky Quick, co-host of Squawk Box. And this is five things you need to know before today's opening bell. The Fed will announce its latest interest rate decision. That's coming at 2 p.m. Eastern time. Investors expecting no change in the federal funds rate, but we will be paying close attention to Fed Chair Jay Powell's news conference for any clues about the future of rate paths.
1:16Elevance Health, formerly known as Anthem, out with its fourth quarter results. Those earnings beat expectations. Revenue was a little bit light. Elevans shares, though, were down 14 percent yesterday after the Trump administration proposed nearly flat rates for Medicare Advantage insurers for this year. Other health insurers also saw big losses. And this morning you can see Elevans Health down by another six and a half percent. South Korea's SK Hynix moving higher after earnings. The company reported record full year profit. It also announced that it will be setting up a new U.S.-based company focused on AI.
1:52high. Shares of Dutch chip giant ASML popping after the company reported orders that more than doubled analyst expectation. That stock right now up by about 6%. And then you have Texas Instruments earnings and revenue missing estimates, but the current quarter guidance that it's giving is lifting the stock. It's up by about 8.5%. Texas Instruments is projecting growth of 4.3 to 4.7 billion in the current quarter. Those gains by ASML and Texas Instruments lifting the entire chip sector right now. You can see these gains across the board. Western Digital up by about 8 percent. Seagate up by close to 10 and a half percent.
2:29We'll be back later today with Squawk Pod, our daily podcast featuring the best of Squawk Box. Stay tuned to your feed wherever you get your podcasts and listen anytime. on.
3:10dot com slash market update podcast or find Schwab market update wherever you get your podcasts.
From the publisher
The 5 things to know before the stock market opens today: the Federal Reserve will announce its latest interest rate decision today, Elevance Health stock fell after a Trump administration proposal on Medicare, shares of South Korean chipmaker SK Hynix are moving higher after reporting a record yearlong profit, and shares of both Dutch chipmaker ASML and Texas Instruments are higher, boosting the entire chip sector.
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
