56 minutes ago
Dovish news supports the market in early trade, Vital Knowledge says
Vital Knowledge’s Adam Crisafulli addresses several “misinformation” to start the day.
“To start, the RBA delivered a ‘dovish hike’, signaling that this 25bp rate hike could be the final one in its cycle. Meanwhile, CPIs from Taiwan, Thailand and the Philippines all edged down by cents, while Japan’s wages data also came in. In the chart below. “The latest ECB survey revealed a fall in inflation expectations,” Grizzafulli said.
However, “the big focus today will be Powell’s testimony before the Senate at 10amET. … Our bottom line: Powell’s bar to sound “less hawkish than to be feared” is low.”
– Fred Imbert, Michael Bloom
7 hours ago
European markets: Here are the opening calls
European markets A mixed open goes to Tuesday.
UK’s FTSE 100 index is expected to rise 19 points to 7,945, Germany’s DAX is expected to rise 20 points to 15,669, France’s CAC is up 10 points to 7,383 and Italy’s FTSE MIB is expected to drop 16 points to 27,953.
Data releases include Irish inflation data for February, while earnings from Greggs, Reach, Man Utd, Nielsen, Zalando, Schaeffler, Henkel and Lego and HelloFresh.
– Holly Elliott
13 hours ago
Paul Hickey says the performance of small caps this year is a good sign
Paul Hickey, co-founder of Bespoke Investment Group, said the strength of small-cap stocks despite the uncertainty of the Federal Reserve’s tightening path is a sign of market resilience. The Russell 2000 index is up nearly 8% this year, outpacing the S&P 500’s 5.4% gain.
“There was some strong fundamental resilience in the market as financial conditions tightened,” Hickey said on CNBC’s “Closing Bell Overtime” on Monday.
– Yun Li
13 hours ago
January total inventories and consumer credit data will be released on Tuesday
January total inventories data is due out after opening hours on Tuesday, giving investors insight into the consumer economy. Economists polled by Dow Jones expected a 0.4% decline, compared with a 0.1% rise in the previous reading.
Consumer credit data expected on Tuesday afternoon forecast a $22 billion rise in January, according to Dow Jones consensus estimates. This follows an increase of $11.6 billion in the previous month.
– Sarah Min
13 hours ago
WW International shares pop after hours
Shares of WW International rose more than 10% in extended trading.
The company, also known as Weight Watchers, said Chanda is acquiring Sequence, a subscription telehealth platform focused on chronic weight management, for a net purchase price of $106 million. The deal is expected to close in the second quarter of 2023.
Separately, WW International declared Its fourth quarter and full year results.
Check out the chart…
WW International Shares 1-Day
13 hours ago
Stock futures open flat
U.S. stock futures were little changed on Monday night as traders awaited the latest comments from Federal Reserve Chairman Jerome Powell on the state of the economy.
Dow Jones Industrial Average futures fell 2 points, or 0.01%. Composite S&P 500 and Nasdaq 100 futures were down 0.01% and 0.06%, respectively.
– Sarah Min
