Happy Tuesday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟩 | US stocks rose on Tuesday. The Dow gained 235 points, and the Nasdaq Composite and S&P 500 ticked up roughly 1%. This comes after fresh US inflation data that was in line with expectations.

• 📈 | One Notable Gainer: Oracle shares jumped 12% after better-than-expected quarterly earnings showed that artificial intelligence is boosting the company's cloud business.

• 📉 | One Notable Decliner: Shares of Southwest Airlines took a 15% dive after the airline said it was reevaluating its full-year 2024 guidance due to delivery delays from Boeing.

• ☢️ | Tomorrow's Trade: Is Nuclear Energy About to Explode? Scroll down for more.

MARKET MOVERS

Boeing, Nvidia, and Kohl’s

Nvidia (+7%) Nvidia’s central role in the AI market was emphasized in Oracle’s earnings report, which discussed its sustained demand for Nvidia’s AI chips (Barron’s)

BA (-4%) Boeing shares dropped after reports that the manufacturer failed 33 of 89 audits on its 737 Max jet, with 97 cases of alleged noncompliance (NYT)

MSFT (+3%) Microsoft and other big tech names boosted the market as February’s inflation report maintained hopes for 2024 rate cuts (Barron’s)

ABNB (+2%) Shares of Airbnb rose after announcing it will ban the use of indoor security cameras in all of its listings by the end of next month (YF)

KSS (-7%) Kohl’s shares dropped after a fourth quarter report showing it missed revenue expectations and comparable store sales fell 4% YoY (YF)

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OVERHEARD ON THE STREET

WSJ: February’s CPI inflation report showed that inflation picked up 3.2%, slightly higher than expected, likely reinforcing the Fed’s wait-and-see posture.

CNBC: Aditya Bhave, a US economist at Bank of America, forecasts that retail sales' three-month annualized growth rate will “turn negative in real terms.”

BBC: Chinese tech giant Xiaomi will deliver its first electric vehicle this month amid an intensifying price war between Chinese EV producer BYD and Tesla.

Reuters: JPMorgan CEO Jamie Dimon urges the US Fed to wait past June before cutting rates, also stating he believes there’s “a little bit of a bubble” forming.

YF: Bernstein analysts claim they are now more convinced Bitcoin will hit $150,000 by mid-2025 after the digital asset’s most recent rally to new highs.

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TOMORROW’S TRADE IDEA, TODAY

Is Nuclear Energy About to Explode?

Buy the Dip

February wasn’t a strong month for uranium stocks. The industry dropped around 14% as a whole. But zooming out, nuclear stocks have outperformed the Nasdaq 100 by almost 200% since 2021. 

That’s why Bank of America (BAC) strategist Jared Woodard encourages investors to buy the stocks as they dip.

“Buy the dip” is a phrase often heard on Wall Street, and for good reason. Woodard thinks uranium is poised for long-term growth, and uranium stocks can be bought at a discount right now.

Top Uranium Picks

Woodard has named the Global X Uranium ETF (URA) as his top pick for the industry. It has $2.7 billion in assets and an expense ratio of 0.69%. 

The fund is currently trading around $27 but was trading over $32 at the start of February. Woodard expects a rebound. 

BofA is also touting VanEck Uranium and Nuclear Energy ETF (NLR) as another option for investors. It saw more than half of its January gains disappear in February.

Greater Acceptance

According to Canaccord Genuity (CCORF) analyst George Gianarikas, government policy shifts indicate greater acceptance of nuclear energy. This spells good news for these funds and others like them. 

According to Gianarikas, American public support for nuclear energy is the highest it’s been in the last decade. 

Whether or not that translates to industry-wide gains remains to be seen, but BofA is bullish. These ETFs could provide investors with an opportunity to gain exposure to an industry that could see significant growth in the future.

POWERED BY THERIVA BIOLOGICS

Could This Common Virus Unlock New Cancer Treatments? Theriva Biologics Believes That Adenoviruses Could Be Instrumental In The Next Evolution Of Oncology

Sometimes the most unsuspecting biological materials, like viruses, can be the solutions to medicine’s biggest dilemmas, like cancer.  Adenoviruses have attracted attention in recent years due to their potential use in gene therapy and vaccine development. Their ability to efficiently deliver genes into mammalian cells has made them valuable tools in medical research, and they’re being explored as potential treatments for certain genetic disorders. Theriva Biologics (NYSE American: TOVX) is a biotech company that is looking to use adenoviruses in its novel cancer treatment.

Click here to read more!

ON OUR RADAR

Bloomberg: Capital gains hikes are at the center of Biden’s second-term tax agenda, with plans to increase taxes on investments to 44.6%.

NBC: Boeing safety whistleblower John Barnett was found dead due to a self-inflicted gunshot wound, according to Charleston officials.

Reuters: The Biden administration announced a new $300M military aid package for Ukraine, the first move in months to bypass Republicans in Congress.

Bloomberg: AllicanceBernstein believes investors looking for long-term exposure to Bitcoin are better off buying shares of crypto mining companies.

NYT: No matter the race, age, or gender, more voters say Trump’s policies personally helped them than Biden’s— 40% vs. 18%.

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