Here is the most important news investors need to start their trading day:
1. Remove yourself from the records
All three major averages fell on Monday, with the Nasdaq Composite and the S&P 500 moving away from its all-time high. However, there were some positives to the day: super microcomputer soared 18% after the company was selected to join the S&P 500 later this month and AI favorite Nvidia rose 3%. Monday's overall losses came as the market, for the most part, has been rising over the past few weeks. Continue live market updates here.
2. Moving target
A shopper passes a Black Friday sale sign at a Target store during a Black Friday sale in Arlington, Virginia, on Nov. 22, 2023.
Andrew Caballero-Reynolds | AFP | fake images
Aim reported earnings and revenue for the important holiday quarter that beat Wall Street expectations, but the company also said it expects weak sales again in 2024. In fact, the retailer's comparable sales (which exclude online sales and sales at new stores, among other things) declined for the third consecutive quarter, it said Monday. But the company emphasized that it has made progress after being hit by a drop in discretionary spending as profits grew from the prior-year quarter. Target shares rose about 8% in premarket trading.
3. Blue spirits
A JetBlue Airways aircraft sits on the tarmac at Fort Lauderdale-Hollywood International Airport on January 31, 2024 in Fort Lauderdale, Florida.
Joe Raedle | fake images
Spiritual airlines and JetBlue are ending their merger agreement, citing regulatory hurdles. The announcement comes weeks after a federal judge blocked JetBlue's attempt to acquire low-cost airline Spirit, saying it would "hurt cost-conscious travelers who rely on Spirit's low fares." JetBlue made an unsolicited bid for Spirit Airlines nearly two years ago, just after Spirit announced a different merger deal with another low-cost carrier. Border. Spirit shares fell nearly 11% on Monday, while JetBlue shares finished the day more than 4% higher.
4. Ford sales increase
A Ford Mustang Mach-E GT compact sport utility vehicle during the 2022 New York International Auto Show in New York on April 14, 2022.
Michael Nagle | Bloomberg | fake images
FordMotors US sales jumped 10.5% last month compared to February 2023, and the company has its electric vehicles and hybrid models to thank for the increase. The automaker said Monday that it sold 174,192 cars and trucks in February. While the majority of them (89.5%) were traditional cars and trucks, Ford saw an 81% increase in sales of electric vehicles and about a 32% increase in sales of hybrid models. The growth comes as Ford has been redoubling its efforts hybrid technology.
5. Getting higher and higher
CFOTO | Future publications | fake images
Bitcoin is getting closer and closer to its its highest point of $68,982.20, which was set in November 2021. The flagship cryptocurrency surpassed 68,000 at one point on Monday, according to Coin Metrics. Bitcoin gained about 21% last week, but the rally took a breather over the weekend. Other cryptocurrencies, including ether and coin meme Dogecoin also rose on Monday, as did cryptocurrency-adjacent stocks such as Coinbase and Microstrategywhich rose 11% and 24%, respectively.
โ CNBC's Alex Harring, Melissa Repko, Leslie Josephs, Rebecca Picciotto, Michael Wayland and Tanaya Macheel contributed to this report.
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