Stock Market Today: Live Updates

Hong Kong released its budget on Wednesday, announcing an immediate reversal of plans to tighten the property market.

The measures include lifting all buy-side property tightening measures for residential real estate and waiving stamp duty on the transfer of REIT units.

The Hang Seng Real Estate Index rose nearly 2%, while the Hang Seng Composite Index fell 0.3%. Shinsegae Development shares rose nearly 6%, and Esan Development shares rose 1.4%.

Treasury Secretary Paul Chan also predicted that this year's economic growth rate would be in the range of 2.5% to 3.5%.

— Shreyashi Sanyal

The Reserve Bank of New Zealand kept its key lending rate unchanged on Wednesday, according to its monetary policy statement.

The Central Bank of New Zealand has kept its official cash rate unchanged at 5.50%, the highest level in 15 years.

RBNZ Governor Adrian Orr said in a statement: “Headline inflation remains above our 1-3% target range, limiting the Committee's ability to allow for upside in inflation expectations.”

Inflation in the fourth quarter of last year was 4.7%, well above the central bank's target range.

— Shreyashi Sanyal

Investors should look beyond the Magnificent 7 stocks to alternative investments, including small-cap stocks and emerging markets, said Richard Bernstein, principal at Richard Bernstein Advisors.

“There's no sound wealth-building strategy where you put all your eggs in seven stocks,” Bernstein said Tuesday on CNBC's “Power Lunch.”There are opportunities outside the U.S. and in some small-cap stocks. ” he said.

“It's such an incredibly bearish worldview that there are only seven companies we can invest in,” he added.

— Brian Evans

The Russell 2000 won for the fourth day in a row during a very slow session for average majors.

The small-cap index rose more than 1% on Tuesday, outpacing the S&P 500's rise of about 0.2% and the Nasdaq Composite's rise of about 0.4%.

The last time the Russell 2000 recorded four consecutive session wins was in late December 2023.

Although the small-cap index has had a strong month (up 5.6% in February), it remains well below the averages of the three majors for the year. In 2024, the Russell 2000 index is up only 1.4%, while the S&P 500 index is already up nearly 6.5%.

–Darla Mercado, Chris Hayes

Let's take a look at some of the companies that are making headlines for their after-hours trading.

• Beyond Meat — Shares soared more than 78% after the plant-based meat company beat revenue estimates in the fourth quarter. Beyond Meat reported revenue of $73.7 million, compared to analyst estimates compiled by LSEG (formerly Refinitiv) of $66.7 million.

• eBay — The online marketplace rose 4% after announcing a 2 cent per share dividend increase and $2 billion in additional stock buybacks. eBay's fourth-quarter results exceeded Wall Street expectations for both sales and bottom line profits, and the company's first-quarter earnings per share forecast exceeded analysts' expectations.

• First Solar — The solar power company returned more than 3% after its full-year outlook met Wall Street expectations. LSEG said fourth-quarter profit was $3.25 per share, beating analysts' expectations of $3.13 per share.

Read the full list here.

— Brian Evans

First Solar shares soared nearly 5% in after-hours trading after the company beat Wall Street's earnings expectations.

The solar panel maker posted net income of $349.2 million in the fourth quarter, up 30% year over year.

First Solar reported earnings of $3.25 per share, beating Wall Street expectations of $3.13 per share. The company had revenue of $1.16 billion in the quarter, falling short of street expectations of $1.31 billion.

First Solar expects net sales of $4.4 billion to $4.6 billion in 2024 and adjusted earnings of $13 to $14 per share this year, roughly in line with expectations.

— Spencer Kimball

Stock futures were little changed on Tuesday as investors focused on fresh inflation data later this week.

Futures, which track the Dow Jones Industrial Average, fell 32 points, or 0.08%. S&P 500 futures were near flat, while Nasdaq 100 futures were down 0.04%.

— Brian Evans