Chapter 1: What recent tariff announcements are impacting stock futures?
Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. It's good to be back with you on this Monday, February 23rd. I'm Julie Morgan. Markets are on edge on this Monday with stock futures falling after President Trump's latest tariff announcement.
As of the time of this recording, Dow futures are down 0.25%, S&P 500 futures edge lower by 0.22%, while Nasdaq 100 futures are down 0.35%. U.S. Customs and Border Protection said tariffs imposed under IEPA, the International Emergency Economic Powers Act, will no longer be collected starting Tuesday.
Trump on Saturday said he will increase the global tariff level he announced on Friday to 15 percent from 10 percent after the Supreme Court struck down most of the tariffs he imposed last year. Top gainers in pre-market trading include Eli Lilly up 2.3 percent, Revity up 2%, and Corning up 1.9%.
Chapter 2: How is the DHS shutdown affecting TSA PreCheck and travel operations?
Decliners include Smurfit Westrock down 6.5%, and Packaging Corporation of America down 5.6%. We'll take a closer look at the biggest movers list in just a few minutes. The ongoing shutdown of the U.S. Department of Homeland Security is injecting fresh uncertainty into airport operations and the broader travel ecosystem.
In a statement early Sunday, DHS outlined emergency steps aimed at conserving cash and manpower during the funding lapse. DHS initially indicated that the Transportation Security Administration would suspend expedited airport services, including the widely used TSA PreCheck program. Hours later, the department revised its guidance, removing PreCheck from the list of affected services.
TSA subsequently said the program remains operational but could face adjustments if staffing shortages intensify. While TSA PreCheck remains active for now, DHS confirmed that global entry has been suspended. The Federal Emergency Management Agency will limit responses to active disasters only, and the department has halted police escorts for members of Congress at airports.
We're looking at the implications this has for investors from airlines to travel-related equities. That info is in this story. A link is in the show notes section. Investors have reportedly taken out nearly $3.8 billion from U.S.-listed spot Bitcoin ETFs over the past five weeks, marking the longest streak of outflows since February of 2025.
CoinDesk reported citing data from SoSoValue that about $316 million exited the funds last week alone.
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Chapter 3: What are the implications of Bitcoin ETF outflows for investors?
BlackRock's iShares Bitcoin Trust has led the declines, shedding roughly $2.13 billion during the five-week stretch. The sustained withdrawal suggests institutional investors remain cautious toward Bitcoin following the sharp sell-off in early October.
While the current outflow streak matches last February's in duration, it is smaller in scale, $3.8 billion compared with about $5 billion previously. Pre-market Bitcoin is down 1.9% at $66,000. Now for a look at what's trending on Seeking Alpha. OpenAI's Sam Altman says the idea of data centers in space is ridiculous.
Novo's stock tumbles as its next-gen obesity shot underperforms Eli Lilly's version. And NVIDIA re-enters the PC market with AI-powered laptop chips. On our Catalyst Watch for the day, I have one item. JP Morgan will host a company-wide update in New York City.
Analysts expect the firm-wide overview by the CFO to be more in-depth than in recent years, as it will likely include key points for each main business line. CEO Jamie Dimon is anticipated to close out the event with prepared remarks and a Q&A. On Wall Street, we've already talked about Dow, S&P, and Nasdaq futures. Crude oil is down 0.6% at $66 a barrel.
Chapter 4: What significant developments are happening with Novo Nordisk's obesity drug?
Gold is up 1% at $51.61. The FTSE 100 is little changed, and the DAX is down 0.3%. And the markets in China and Japan remain closed for a holiday. Novo Nordisk is on our list of the biggest movers of the day pre-market.
NVO is down 15% after the company's next-generation obesity drug delivered less weight loss than Eli Lilly's competing treatment in a Phase 3 trial, raising new concerns about its sales potential.
Chapter 5: How is NVIDIA re-entering the PC market with new technology?
And on today's economic calendar at 8 30 a.m the Chicago Fed National Activity Index at 10 a.m factory orders and at 10 30 a.m the Dallas Fed Manufacturing Survey. That's it for today's Wall Street Breakfast. Thanks for listening. To take full advantage of Seeking Alpha with coverage on significant stocks and ETFs, become a premium subscriber. Check out seekingalpha.com slash subscriptions.
Chapter 6: What economic indicators are on the calendar today?
I'm your host, Julie Morgan. Go out and make it a great day.