Economic Data, AI Concerns in Focus Over Volatile Week

Market Performance - The Dow Jones Industrial Average (DJI) achieved record closes at the beginning of the week but faced declines towards the weekend due to limited job growth in certain sectors and concerns about interest rates [1] - The S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) are also expected to end the week with losses, despite a brief uptick on Friday following soft inflation data [2] - The Cboe Volatility Index (VIX) is on track for its fifth consecutive weekly gain, marking its longest winning streak since March 2020 [2] Earnings Reports - Dynatrace (DT) and ON Semiconductor (ON) experienced declines after missing quarterly earnings expectations, while Fastly (FSLY) saw a rally due to positive full-year revenue and profit forecasts [3] - Roku (ROKU) rose after exceeding earnings expectations and providing an optimistic outlook, while Applied Materials (AMAT) reached a record high driven by strong results and guidance related to AI demand [3] - Coca-Cola (KO) fell due to a revenue miss, and Mattel (MAT) faced its worst daily drop in decades following disappointing quarterly results and a weak outlook [4] - Upstart (UPST) declined despite surpassing profit and revenue expectations, influenced by a C-suite shakeup and a softer margin forecast [4] - QuantumScape (QS) dropped after reporting a wider-than-expected quarterly loss and downbeat projections [4] Corporate Developments - Kroger (KR) appointed former Walmart executive Greg Foran as its new CEO [5] - STMicroelectronics (STM) surged following a partnership announcement with Amazon's AWS, which includes a multiyear share purchase agreement [5] - Novo Nordisk (NVO) initiated a lawsuit against Hims & Hers Health (HIMS) for alleged patent infringement related to a weight-loss drug, causing significant stock movements for both companies [5] Upcoming Events - Markets will be closed on Monday, February 16, for Presidents' Day, but the following week is expected to be busy with a significant amount of economic data to analyze [6]