US stocks opened Tuesday's trading session on mixed footing, struggling to recover from steep losses led by fears of AI disruption as President Trump's new global tariff came into effect.

The Dow Jones Industrial Average (^DJI) picked up roughly 0.3%. The S&P 500 (^GSPC) slipped by roughly 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) fell 0.3%. AMD (AMD) shares jumped as much as 10% after the chipmaker entered a deal to provide Meta (META) with a huge amount of GPUs for the Facebook owner's AI buildout.

The cautious rebound follows a sharp sell-off on Monday as investors grappled with renewed concerns that rapid advances in AI could disrupt broad swaths of corporate America.

That puts the spotlight on Anthropic's (ANTH.PVT) virtual event on Tuesday morning, featuring updates to its AI tools and Claude chatbot for companies. Wall Street is on watch after the AI start-up's recent product reveals hit sectors from software to consulting services, with IBM (IBM) the latest victim.

Meanwhile, worries of revived trade war are still keeping markets on edge, after President Trump's new 10% global tariff took effect on Tuesday. The move has thrown existing trade deals into doubt, after EU and Japan protested that the duties leave them worse off than agreed.

According to several reports, the White House is now working on a formal order to raise the rate to 15%, as threatened by Trump, and is preparing plans to launch national-security probes on sectoral imports that could lead to more tariffs. Given that, investors will listen closely to Trump's State of the Union address later Tuesday for hints on his trade policy as he lays out his view of the economy.

Waymo is expanding its driverless robotaxi service to new markets in Dallas, Houston, San Antonio, and Orlando, the company said in a statement Tuesday morning. Rides begin the same day.

Shares in Alphabet (GOOG), which owns Waymo, were up slightly in premarket trading.

The expansion brings Waymo to 10 markets and puts the company on track to hit 1 million rides per week by the end of the year, the company said Tuesday. The new cities are \\"critical to our plans, as we lay groundwork for service in 20+ cities,\\" Tekedra Mawakana, co-CEO of Waymo, said in the statement.

In the new markets, Waymo said it will will begin by inviting “select riders” who have downloaded the app in those cities, with additional users invited throughout the year.

The move from Waymo also comes after a setback last week in the north, when New York Gov. Kathy Hochul axed a proposal to allow driverless rides in the wider state outside New York City.

Yahoo Finance's David Hollerith reports:

JPMorgan Chase (JPM) CEO Jamie Dimon said Monday that the financial world looks a lot like the heyday in the years ahead of the global financial crisis.

“Unfortunately, we did see this in '05, '06, '07, almost the same thing,\\" Dimon said at the firm's annual investor day in New York on Monday. \\"The rising tide lifting all boats, everyone was making a lot of money, people leveraging to the hilt. The sky was the limit.”

“My own view is people are getting a little comfortable that this is real — these high asset prices and high volumes and that we won't have any kind of problem whatsoever. So we're quite cautious about that,” Dimon added.

Dimon’s comments come amid a turbulent market period, as investors have dumped stocks across a range of industries over fears that artificial intelligence will disrupt their core businesses. In the financial industry, these challenges have been most acutely felt in private credit markets.

Read more here.

Meta (META) will buy up to 6 gigawatts' worth of AI processing chips, or GPUs, and other AI equipment from Advanced Micro Devices (AMD) under the terms of a multiyear deal announced by the two companies on Tuesday.

AMD shares jumped by 10% in premarket trading on the news, while Meta's shares fell by roughly 0.4%.

Under the agreement, AMD issued Meta a performance-based warrant for up to 160 million shares of AMD stock, \\"structured to vest as specific milestones associated with Instinct GPU shipments are achieved,\\" the companies said. The first tranche of stock is scheduled to vest in time with AMD's first 1-gigawatt shipment of computing technology to Meta.

Shipments are expected to begin in the second half of 2026, the companies said.

For Meta, the deal with AMD comes right on the heels of another \\"long-term partnership\\" signed last week with chipmaking leader Nvidia (NVDA), a direct competitor to AMD. Under the terms of that deal, Meta will increase its use of Nvidia processing equipment throughout its AI workloads.

Meta shares closed Feb. 17, the day the Nvidia deal was announced, roughly flat, while Nvidia closed the day up 1.8%.

Bloomberg reports:

Shares in companies with tangible productive assets are outperforming as investors seek havens from artificial intelligence disruption, according to Goldman Sachs Group Inc. strategists.

The Goldman team said their basket of capital intensive stocks whose economic value derives from physical assets has outperformed a capital light group reliant on human or digital capital by about 35% since the start of 2025.

Investors are increasingly turning to stocks with what the strategists called the “HALO effect,” for heavy assets and low obsolescence, in sectors like utilities, basic resources and energy, the team including Guillaume Jaisson said in a client note.

ASML Holding NV, Safran SA, LVMH, Air Liquide SA and Airbus SE are among stocks the team selected in a basket of European capital intensive names. L’Oreal SA, Adyen NV, DSV AS and Siemens Healthineers AG are a few of those in the capital light basket.

Read more here.

Whirlpool (WHR) stock fell 8% before the bell on Tuesday after The Wall Street Journal reported that the appliance maker plans to sell 800 million shares to pay off its debt.

Keysight Technologies, Inc. (KEYS) stock jumped 15% before the bell after it beat analysts' expectations for its first quarter earnings and released an upbeat fiscal second-quarter outlook.

Planet Fitness (PLNT) stock fell 5% during premarket hours on Tuesday following the release of its fourth quarter earnings. The fitness operator beat revenue estimates.

Home Depot (HD) posted mixed fourth quarter results as consumer uncertainty around the housing market lingers.

In the fourth quarter, revenue fell 4% to $38.2 billion, slightly less than nearly $38.3 billion the street forecasted, per Bloomberg consensus data. Adjusted earnings came in better than expected at $2.72 per share, compared with estimates of $2.55.

Overall same-store sales grew 0.4%, compared to the expected 0.4% decline. The results were driven by a higher ticket size, but drop off in consumer transactions.

\\"For the fourth quarter, our results were largely in-line with our expectations, reflecting the lack of storm activity in the third quarter and ongoing consumer uncertainty and pressure in housing,\\" CEO Ted Decker said in the release, \\"Adjusting for storms, underlying demand was relatively stable throughout the year.\\"

Home Depot stock rose nearly 3% in premarket trading. Shares are up roughly 10% so far this year. For comparison, the S&P 500 (^GSPC) has been flat.

For the fiscal year, the company posted better than expected results across all key metrics.

Revenue came in at $164.68 billion, more than the $164.59 billion expected, alongside adjusted earnings of $14.69, a tick above the $14.53 expected.

Same-store sales grew 0.3%, more than the 0.2% Wall Street anticipated.

For this fiscal year, the company reiterated guidnce it shared at its investor day back in December. It expects total sales to grow in the range of 2.5% to 4.5%, alongside same-store sales growth of roughly flat to up 2%.

Adjusted earnings for the year are expected to be between flat and up 4.0% from $14.69 posted this fiscal year.

It was a decent quarter, all things considered, for Home Depot (HD).

It offered a reasonable EPS outlook for 2026, given the tepid state of the US housing market.

Here's what Home Depot CFO Richard McPhail had to say on that, speaking to me this morning.

First of all, our customers are the homeowner — and so they're one of the most resilient customer cohorts in the economy. But they're feeling pressure like everyone else. They tell us they have concerns around housing affordability, general affordability and broader concerns over uncertainty and job loss.

So there is pressure on the market. If you look at housing turnover, that's actually been frozen for three years — we have been at historical lows in housing turnover for three years in a row. So you'd say you really saw that impact during 2023, and if you look at our financial performance, 2023 and 2024 were both negative. [In] 2025, obviously, we posted positive comp sales. We posted five quarters of positive comps in a row in the United States, and it feels like we have recovered slightly from that initial freeze in housing turnover.

It's become more of a dynamic where our customers are feeling less certain about the economic environment, and so that has put pressure on our market.

Obviously, there are mixed economic signals, if you look more closely at the GDP print from last week. [And if] you look at durable goods and you look at residential investment on a year-over-year basis, both have decelerated through the year. Durable goods demand actually turned negative year over year in Q4, and residential improvement has been negative throughout the year.

So I look at those as indicators that the homeowner faces a little more pressure through the year, and I look at it as proof that we're taking market share as our results have been relatively steady across the year.

Bitcoin (BTC-USD) continued to slump, on track to log its biggest monthly fall since a flurry of big corporate collapses shook the crypto world almost four years ago.

The leading cryptocurrency dropped to $62,858 at one point, but recouped some losses to trade above $63,000 on Tuesday morning.

From Bloomberg:

[Bitcoin is] now down more than 19% in February, set for its worst monthly performance since June 2022. That year, the implosion of TerraUSD, a stablecoin project, triggered a daisy chain of failures that included crypto hedge fund Three Arrows Capital and BlockFi, the lender.

Bitcoin is also on track for a fifth straight monthly decline, its longest losing streak since 2018 — a bruising period for crypto markets defined by the unraveling of an initial coin offering boom.

The slide — which extends a selloff that began in October — comes amid broader risk-off sentiment across global markets after President Donald Trump announced plans to raise global tariffs to 15%, a move that unsettled investors and weighed on equities and other higher-risk assets.

“President Trump’s decision to raise global tariffs to 15% rattled risk assets broadly, and Bitcoin moved with them,” said Rachael Lucas, crypto analyst at BTC Markets. “Despite the ‘digital gold’ narrative, Bitcoin continues to trade as a risk asset. When macro fear spikes, capital rotates toward traditional safe havens. Bitcoin is not there yet.”

Read more here.

Hims & Hers (HIMS) reported lower profits in the fourth quarter compared with a year ago, sending the stock down more than 5% in premarket trading.

The telehealth and drug platform reported earnings per share of $0.08, beating Wall Street estimates for $0.05 but falling from $0.11 per share a year ago, according to S&P Global Market Intelligence. Revenue of $617.8 million was roughly in line with estimates.

One bright spot in the earnings release was Hims & Hers 2026 revenue forecast, which came in above estimates.

Reuters reports:

The company then ​reversed course ​on its plans ​after the U.S. Food ‌and Drug Administration said it would take action against manufacturers mixing ingredients to produce copies of GLP-1 drugs, referring it to the Department of Justice for potential violations ‌of federal law.

The company forecast ​2026 revenue to be ​in the ​range of $2.7 billion to $2.9 billion, compared ‌to estimates of $2.74 billion, ​as per ​data compiled by LSEG.

Read more here.

Bloomberg reports:

Anthropic is offering some current and former employees the ability to sell shares in the company at a valuation of about $350 billion, according to people familiar with the matter — allowing them to cash in at the level of a recent $30 billion fundraising.

The company has lined up $5 billion to $6 billion for the share sale, but the final amount will depend on how many eligible Anthropic employees opt to sell, said one of the people, who asked not to be identified because the information is private. The details have not been finalized and could still change.

Anthropic’s latest funding round, completed earlier this month, valued the company at $380 billion post-money, including the cash investors put in. Anthropic declined to comment on the new share sale.

Read more here.