Today in the Market (3/4/2024)

Good Morning! On Monday, U.S. equities fell as investors prepared for a week, which will include monthly employment data and Fed Chairman Jerome Powell’s testimony. The S&P 500 and the NASDAQ almost finished up but fell in the last hour by 0.12% & 0.41%, respectively, while the Dow Jones decreased by 0.25%.

BUILT TOUGH!

Ford (F) had an increase in sales in February, making the carmaker the top seller in the U.S. for the second consecutive month. On top of that, Ford highlighted that this growth wasn’t only from trucks and pointed out significant increases in sales of hybrid and electric vehicles. How much, though?

  • Total vehicles sold increased by 10.50% to 174,192, compared to Toyota’s total of 159,262.
  • Hybrid sales increased by 31.50% to 12,000 units sold
  • EV sales increased by 80.10% to 6,368 units sold
  • F-Series Truck sales were down by 5.80% but the company still sold 165,901 Trucks

The bottom line. Despite Ford just recently beginning delivery of 2024 model-year F-150s, the carmaker has achieved solid sales at the start of the year.

YOU DON'T WANNA MISS THIS

The domestic debut of the high-budget sequel from Warner Bros. (WBD), “Dune: Part Two“, earned $81.5 Million, providing a much-needed and powerful boost to struggling movie theaters. The opening weekend was the most successful of the year and the highest-earning movie since October, when the Taylor Swift concert film “The Eras Tour” earned $93 million.

Is it a must-see? It has an “A” CinemaScore and a 94% rating on Rotten Tomatoes, supporting positive reviews and pleasing recommendations. On top of that, “Dune: Part Two” appears to have surpassed initial expectations and gained a fan base beyond sci-fi fans.

The breakdown! Similar to the first movie, “Dune: Part Two” has been especially well-received in IMAX and other premium large formats. IMAX contributed $18.5 million in ticket sales, making up about 23% of the market share. High demand for viewing 70mm film, the preferred format for the film, has led some bold fans to attend showtimes as early as 3:15 a.m.

 

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