Deep Dive
Shownotes Transcript
I'm Micheline Sharp, head of insurance and retirement at Janus Henderson Investors. We've worked to help clients achieve superior financial outcomes and to fulfill our purpose of investing in a brighter future together. To learn more, go to JanusHenderson.com. Here's your closing bell brief for Monday, February 24th. I'm Danny Lewis for The Wall Street Journal. Technology stocks are stuck in a slump as the artificial intelligence growth story remains murky.
The tech-heavy Nasdaq lost 237 points, about 1.2%. The S&P 500 fell 30 points. And the Dow Jones Industrial Average ticked up just 33 points to close at 43,461. Several major tech companies dragged down the indexes as investors pulled back from a run-up on their stocks, including Alibaba, which lost 10.2% after announcing plans to invest more than $52 billion in AI and cloud infrastructure.
as well as data analytics company Palantir, which fell 10.5% today and has been on a four-session losing streak amid concerns about potential budget cuts at the U.S. Department of Defense. Analysts say investors are still rattled by the performance of Chinese company DeepSeek's latest AI model and are questioning the outlook of American tech companies. In other individual companies today...
Nike stock surged 5% after investment bank Jefferies raised its recommendation on the stock from hold to buy. The bank cited Nike's strategy to reposition its brand after years of missteps. Shares in real estate firm Bridge Investment jumped 34% after the news that it is being bought by Apollo Global Management. The $1.5 billion stock deal will nearly double Apollo's real estate assets and fill in gaps in its investment offerings.
And Berkshire Hathaway stock rose 4% after its latest earnings report. In a letter to shareholders, Warren Buffett's company said it holds a record cash pile of more than $321 billion. But it says Buffett's investment strategy hasn't changed. We'll have a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.
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