Salesforce’s Impact
Dow futures fell 60 points, S&P 500 futures down 7 points, and Nasdaq 100 futures fell 47 points.
Salesforce earnings
The quarterly earnings season is slowing down, with Salesforce set to unveil its latest returns after the closing bell. Revenue is expected to reach a record $9.22 billion, helping Salesforce return to a fourth-quarter profit after posting a loss due to restructuring charges. Analysts are also interested in Salesforce’s data cloud unit, as they seek to determine if AI integration has supported customer demand. Other companies, such as TJX Companies and Viatris, are also due to report before the market opens.
 Elon Musk Announces Next-Gen Tesla Roadster Delivery Set for 2025.
Tesla CEO Elon Musk announced that the company has completed production design for a next-generation Roadster electric sportscar, which is expected to ship in 2025. The company aims to unveil the Roadster by end-2024, with design goals radically increased from 2020. Musk also revealed that the new vehicle is being developed in collaboration with SpaceX, and the original model was originally scheduled for launch in 2020.
Country Garden’s Troubles Deepen: Liquidation Petition Piles Pressure on Developer.
Chinese property stocks in Hong Kong fell due to concerns over a real estate meltdown, with Country Garden (HK:2007) being the worst performer among its peers. The embattled developer was the worst performer, sliding 6.7% and further into penny stock territory. Other property developers, including Sunac China Holdings, Longfor Properties Co, and Logan Property Holdings, also fell between 3% and 9%. The broader Hang Seng index fell 1.4%, largely due to losses in the real estate sector. Country Garden Services Holdings was the worst performer with a 4.6% loss.
Economic Calendar
7:00 MBA Mortgage Applications
8:30 GDP
8:30 International Trade in Goods (Advance)
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
10:30 EIA Petroleum Inventories
11:00 Survey of Business Uncertainty
12:00 PM Fed’s Bostic Speech
12:15 PM Fed’s Collins Speech
12:45 PM Fed’s Williams Speech
Other Key Events:
BMO Capital 33rd Global Metals, Mining & Critical Minerals Conference, 2/25-2/28, in Hollywood, FL
JP Morgan Global High Yield and Leveraged Conference, 2/26-2/28, in Miami, FL
JP Morgan Global Emerging Markets Corp Conference, 2/26-2/28, in Miami, FL
KBW Fintech & Payments Conference, 2/27-2/29, in New York
NAHB Internation Builders Show, 2/26-2/28 in Las Vegas, NV
Piper West Coast Financials Services Conference, 2/28-3/1, in Las Vegas
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