The S&P 500 futures trade three points, or 0.1%, above fair value on the first day of February, as the market takes a breather from a two-day rebound rally. The benchmark index is up 4.4% over the last two sessions.
Price action this morning has been relatively calm in front of the ISM Manufacturing Index for January (Briefing.comconsensus 57.5%) at 10:00 a.m. ETand Alphabet's (GOOG 2719.35, +5.38, +0.2%) earnings report after the close. January Manufacturing PMIs in Japan and Europe remained in expansion territory.
The Construction Spending report for December (Briefing.comconsensus 0.6%) and the JOLTS - Job Openings report for December will be released concurrently with the ISM report and will be preceded by the preliminary IHS Markit Manufacturing PMI for January at 9:45 a.m. ET.
In the meantime, investors are reviewing another decent round of earnings reports. UPS (UPS 217.07, +14.86, +7.4%) stands out with a 7% gain in pre-market action after beating top and bottom-line estimates and guiding FY22 EPS above consensus. Exxon Mobil (XOM 77.40, +1.44, +1.9%) beat EPS estimates.
U.S. Treasury yields have edged lower across the curve amid an uptick in demand. The 2-yr yield is down two basis points to 1.14%, and the 10-yr yield is down three basis points to 1.75%. The U.S. Dollar Index is down 0.3% to 96.30. WTI crude futures are down 0.5% to $87.71/bbl.
In U.S. Corporate news:
UPS (UPS 217.07, +14.86): +7.4% after beating top and bottom-line estimates and guiding FY22 EPS above consensus.
AT&T (T 24.37, -1.13): -4.4% after announcing plans to spin off interest in WarnerMedia to its shareholders at closing of previously announced transaction with Discovery (DISCA 27.25, -0.66, -2.4%).
Exxon Mobil (XOM 77.40, +1.44): +1.9% after beating EPS estimates.
NXP Semi (NXPI 206.89, +1.45): +0.7% after beating top and bottom-line estimates, guiding Q1 revenue above consensus, approving a $2.0 billion share repurchase program, and increasing its quarterly dividend by 50%.
Cirrus Logic (CRUS 85.99, -3.45): -3.9% despite beating top and bottom-line estimates and guiding fiscal Q4 revenue above consensus.
Reviewing overnight developments:
Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note while markets in China, South Korea, Singapore, and Hong Kong were closed. Japan's Nikkei: +0.3% Hong Kong's Hang Seng: CLOSED China's Shanghai Composite: CLOSED India's Sensex: +1.5% South Korea's Kospi: CLOSED Australia's ASX All Ordinaries: +0.6%.
In economic data:
Japan's January Manufacturing PMI 55.4 (expected 54.6; last 54.3). December Unemployment Rate 2.7% (expected 2.8%; last 2.8%) South Korea's January trade deficit $4.89 bln (last deficit of $450 mln). January Imports 35.5% yr/yr (expected 32.8%; last 37.1%) and Exports 15.2% yr/yr (expected 15.5%; last 18.3%)
India's January Nikkei Markit Manufacturing PMI 54.0 (expected 54.6; last 55.5)
Australia's December AIG Manufacturing Index 48.4 (last 54.8), December Retail Sales -4.4% m/m (expected 3.9%; last 7.3%), and December Home Loans 5.3% m/m (last 7.6%)
New Zealand's December trade deficit NZD477 mln (expected deficit of NZD700 mln; last deficit of NZD1.06 bln)
In news:
Japan's Manufacturing PMI expanded for the 12th consecutive month in the January reading.
Tokyo is reportedly seeking another coronavirus emergency declaration from the Japanese government.
The Reserve Bank of Australia left its cash rate at 0.10% and announced the end of its asset purchase program, as expected.
Major European indices trade on a firmly higher note. STOXX Europe 600: +1.2% Germany's DAX: +1.1% U.K.'s FTSE 100: +0.9% France's CAC 40: +1.1% Italy's FTSE MIB: +1.2% Spain's IBEX 35: +1.3%.
In economic data:
Eurozone's December Unemployment Rate 7.0% (expected 7.1%; last 7.1%) and January Manufacturing PMI 58.7 (expected 59.0; last 58.0)
Germany's December Retail Sales -5.5% m/m (expected -1.4%; last 0.8%); 0.0% yr/yr (expected 1.1%; last 0.5%). January Manufacturing PMI 59.8 (expected 60.5; last 57.4). January Unemployment Rate 5.1% (expected 5.2%; last 5.2%)
U.K.'s December Mortgage Lending GBP3.57 bln (expected GBP3.52 bln; last GBP3.78 bln) and December BoE Consumer Credit GBP831 mln (expected GBP800 mln; last GBP999 bln). January Manufacturing PMI 57.3 (expected 56.9; last 57.9) and January Nationwide HPI 0.8% m/m (expected 0.6%; last 1.0%); 11.2% yr/yr (expected 10.8%; last 10.4%)
France's January CPI 0.3% m/m (expected -0.2%; last 0.2%); 2.9% yr/yr (expected 2.4%; last 2.8%). January Manufacturing PMI 55.5, as expected (last 55.6)
Italy's December Unemployment Rate 9.0% (expected 9.2%; last 9.1%) and January Manufacturing PMI 58.3 (expected 61.0; last 62.0)
Swiss December Retail Sales -0.4% yr/yr (expected 5.5%; last 5.3%), January procure.chPMI 63.8 (expected 64.0; last 62.7), and Q1 SECO Consumer Climate 3 (last 8)
In news:
January Manufacturing PMI readings from major European economies remained in expansion, though some missed expectations.
The European Central Bank's lending survey for Q1 observed a slight tightening in credit standards for corporations.
Belgium will lower the tax rate on electricity and issue one-time rebates to consumers.
Swiss National President Jordan said that there was no sign of a wage-price cycle in Switzerland and that the inflation rate is near its peak.
Finland joined England, Ireland, and Denmark in lifting all coronavirus restrictions.
U.S. equity futures:
S&P 500 Futures: -5 @ 4,511
DJIA Futures: -39 @ 35,093
Nasdaq 100 Futures: +18 @ 14,959
Overseas:
Europe: DAX +1.1%, FTSE +0.9%, CAC +1.1%
Asia: Nikkei +0.3%, Hang Seng CLOSED, Shanghai Composite CLOSED
Commodities:
Crude Oil -0.42 @ 87.73
Nat Gas -0.059 @ 4.815
Gold +10.70 @ 1805.70
Silver +0.572 @ 22.965
Copper +0.0657 @ 4.3902
U.S. Summary:
Earnings/Guidance (Full Earnings Calendar):
AGNC Investment (AGNC) reports Q4 (Dec) results, net interest income decreased 11.5% sequentially
Alexandria RE (ARE) reports FFO in-line, beats on revs; guides FY22 FFO in-line
AMC Entertainment (AMC) guides Q4 revs above consensus
AngloGold Ashanti (AU) provides FY21 trading update; sees FY21 EPS in-line with expectations
ArcBest (ARCB) beats by $0.52, beats on revs
Audiocodes (AUDC) beats by $0.01; beats on revs
Axalta Coating Systems (AXTA) misses by $0.01, reports revs in-line; guides Q1 EPS below consensus, revs below consensus
Bio-Techne (TECH) beats by $0.09, beats on revs; approves new share repurchase program
Broadridge Financial (BR) misses by $0.02, beats on revs; reaffirms FY22 EPS guidance
Buenaventura (BVN) reports Fourth Quarter 2021 production results and 2022 production guidance
Cabot (CBT) beats by $0.19, beats on revs; guides FY22 EPS above consensus
Catalent (CTLT) beats by $0.07, beats on revs; guides FY22 revs above consensus
Cirrus Logic (CRUS) beats by $0.40, beats on revs; guides MarQ revs above consensus
Credit Acceptance Corp. (CACC) beats by $1.89, reports revs in-line
Entegris (ENTG) beats by $0.07, beats on revs; guides Q1 EPS above consensus, revs above consensus
Enterprise Products (EPD) misses by $0.07, beats on revs
Evoqua Water (AQUA) beats by $0.04, beats on revs
Exxon Mobil (XOM) beats by $0.11, reports revs in-line
Fabrinet (FN) beats by $0.04, beats on revs; guides MarQ EPS above consensus, revs above consensus
Graco (GGG) beats by $0.03, beats on revs
Hamilton Lane (HLNE) beats by $0.36, misses on revs; raises full year dividend 12% to $1.40/share
Harmonic (HLIT) beats by $0.03, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY22 EPS below consensus, revs above consensus at midpoint
Heartland Financial (HTLF) misses by $0.10, misses on revs
Helmerich & Payne (HP) beats by $0.02, beats on revs
J&J Snack Foods (JJSF) misses by $0.10, beats on revs
Kemper (KMPR) reports Q4 (Dec) results, misses on revs
Kilroy Realty (KRC) beats by $0.09, beats on revs
Lennox Int'l (LII) beats by $0.36, beats on revs; guides FY22 EPS in-line, reaffirms FY22 revs guidance
Li Auto (LI) reports January deliveries increased 128.1% yr/yr
Manpower (MAN) beats by $0.18, reports revs in-line; guides Q1 EPS above consensus
MDC Holdings (MDC) misses by $0.28, misses on revs
NIO (NIO) reports January deliveries increased 33.6% yr/yr
Nomura Holdings (NMR) reports nine-month results; revs decline 14.5%
NXP Semi (NXPI) beats on EPS, beats on revs, guides Q1 revenue above consensus, approves 50% increase to quarterly cash dividend, approves $2.0 bln share repurchase program
Pentair (PNR) beats by $0.02, beats on revs; guides Q1 EPS below consensus, revs in-line; guides FY22 EPS in-line, revs in-line
Pitney Bowes (PBI) misses by $0.05, beats on revs; guides FY22 revs in-line
PotlatchDeltic (PCH) misses by $0.01, misses on revs
Premier (PINC) beats by $0.08, beats on revs; lowers FY22 EPS guidance below consensus, raises revenue guidance above consensus at midpoint
PulteGroup (PHM) beats by $0.21, beats on revs; announces $1.0 bln share repurchase
Sanmina (SANM) beats by $0.13, beats on revs; guides Q2 EPS mostly above consensus, revs above consensus
Scotts Miracle-Gro (SMG) misses by $0.15, reports revs in-line; increases outlook for US consumer unit
Sensata Tech (ST) beats by $0.06, beats on revs; guides Q1 EPS below consensus, revs in-line; guides FY22 EPS below consensus, revs above consensus
Sirius XM (SIRI) beats by $0.01, beats on revs; guides FY22 revs above consensus; declares special cash dividend
Spire Global (SPIR) guides Q4 revs above consensus; guides FY22 above consensus
SSR Mining (SSRM) reports FY21 production at top end of guidance
Stanley Black & Decker (SWK) beats by $0.09, misses on revs; guides FY22 EPS above consensus
UBS AG (UBS) beats by $0.11, beats on revs
UPS (UPS) beats by $0.49, beats on revs; guides FY22 revs above consensus
Waters (WAT) beats by $0.18, beats on revs; guides Q1 EPS in-line; guides FY22 EPS in-line, revs above consensus
Woodward (WWD) misses by $0.27, misses on revs, cites supply chain constraints and labor shortages; but remains confident in FY22 prior guidance, authorizes $800 mln share buyback and increases quarterly dividend by 17%
Xometry (XMTR) guides Q4 revs of $65.5-67.5 mln, coming in above consensus; excluding Thomas Publishing revs, expects Q4 revs of $62.0-63.0 mln, in-line with consensus
Xos (XOS) raises guidance for Q4 revs and deliveries
XPeng (XPEV) reports January deliveries increased 115% yr/yr
General News:
Russia responds to US proposal to de-escalate the Ukraine situation, but it is unknown what the response said, according to the Washington Post
RBA decided to maintain the cash rate target at 10 basis points; It also decided to cease further purchases under the bond purchase program, with the final purchases to take place on February 10
California pulls bill from consideration that would create single payer healthcare system in the state, according to the Wall Street Journal
OPEC+ aiming to approve another output increase this week, according to Bloomberg
Rep. Ed Perlmutter (D-CO) will attach banking act for cannabis companies to China competition bill, but Senate leadership in both parties have shown little interest in these types of reforms, according to Cannabis Business Times
Macau Gaming Inspection and Coordination Bureau earlier reported January 2022 gross revs -20.9 yr/yr to HKD 6.344 bln versus +1.8% in December of 2021
Accenture (ACN) appoints Manish Sharma as COO, effective March 1
Altus Power (AMPS) and Heliene form strategic partnership to support solar manufacturing in the U.S.
Amerant Bancorp (AMTB) authorizes new share repurchase program of up to $50 mln
Amgen (AMGN) and Novartis amend license and collaboration agreement
Anavex (AVXL) reports results from AVATAR Phase 3 trial of ANAVEX 2-73
Aspira Women's Health (AWH) announces addition of 465,000 covered lives
AT&T (T): HBO Max will be introduced in 15 European countries on March 8, according to Reuters
Bitfarms (BITF) provides January 2022 production and operations update
CGI Group (GIB) secures a $133.9 mln Task Order under its new $250M BPA to manage and maintain financial solutions across the Department of Justice
Clene (CLNN) announces the appointment of Morgan Brown as Chief Financial Officer effective Feb. 1, 2022
CMS Energy (CMS) and General Motors (GM) agree to power three michigan auto plants with 100% clean energy
Cryoport (CYRX) provides update on fire damage at MVE's New Prague facility
Cytokinetics (CYTK) announces "positive" topline results from Cohort 3 of REDWOOD-HCM
Daimler AG (DDAIF) will become Mercedes-Benz Group AG on February 1, 2022
Eagle Pharma (EGRX) announces the commercial availability of its novel product PEMFEXY
Electronic Arts (EA) appoints Chris Suh as CFO, effective March 1
Embark Technology (EMBK) appoints Stephen Houghton as COO
Enerpac Tool Group (EPAC) announces upcoming departure of CFO Rick Dillon
Eneti (NETI) has discontinued discussions with a shipyard in the United States to build a Jones Act-compliant Wind Turbine Installation Vessel
Envista (NVST) extends commercial relationship with Pacific Dental Services
Gannett (GCI) announces that the Company's Board of Directors authorized a share repurchase program for the repurchase of up to $100 mln of the Company's common stock
General Electric (GE): Qatar Airways signs order for GE9X Engines to power Boeing 777-8 Freighters
Greif (GEF) announces that Ole Rosgaard assumes the role of President and Chief Executive Officer
Grupo Televisa (TV) creates combination with Univision
IAMGOLD (IAG): RCF releases open letter to the Board of IAMGOLD and announces intention to nominate independent directors
ImmunityBio (IBRX) Announces Promising Clinical Study Results for 'Kick and Kill' HIV Cure Strategy to Reduce HIV Viral Load with Anktiva (N-803) Therapy
Invesco (IVZ) announces changes to its Board of Directors; Trian expresses confidence in Invesco's leadership - Nelson Peltz and Ed Garden step down from the Board
Lockheed Martin (LMT) awarded $1.4 bln Air Force contract; Sikorsky Aircraft awarded $680 mln Navy contract
Microsoft (MSFT) and Striim announce an expansion of their strategic relationship with a new assessment and migration managed service providing fast, automated migration of enterprise databases from on-premises or a cloud to Microsoft Azure databases
MultiPlan (MPLN) transitions CEO role to Dale White, effective February 1
Northern Oil & Gas (NOG) declares $0.14 cash dividend on its common stock, a 75% increase over prior quarter
Northrop Grumman (NOC) awarded position on $750 mln Army contract
Parsons (PSN) selected to provide project management support in building reimagined industrial city OXAGON
Pfizer (PFE) coronavirus vaccine for kids under 5 could be approved by end of this month, according to the Washington Post
PulteGroup (PHM) announces that its Board of Directors has approved a $1.0 bln increase to the Company's share purchase authorization
Satellogic (SATL) announces partnership with Palantir Technologies (PLTR)
Sempra Energy (SRE) subsidiary and Mexico's Federal Electricity Commission sign MOU for development of natural gas supply projects
Summit Hotel (INN) announces retirement of COO Craig J. Aniszewski, effective March 1
Televisa (TV) and Univision aiming to introduce streaming service, according to Reuters
Wish (WISH) appoints Vijay Talwar as CEO, effective February 1
Woodward (WWD) authorizes two-year stock repurchase program for up to $800 mln; also increases quarterly dividend by 17% to $0.19/share
Yext (YEXT) announces new integration with Freshdesk to equip businesses with its AI search experiences across customer support channels
M&A:
Angel Pond Holdings Corp. (POND) announces intention to combine with MariaDB
AT&T (T) to spin off interest in WarnerMedia to its shareholders at closing of previously announced transaction with Discovery (DISCA)
Civitas Resources (CIVI) to acquire Denver-Julesburg Basin operator Bison Oil & Gas II, LLC for approximately $346 million in cash and stock; also announces Eric Greager has stepped down as CEO
Gambling.comGroup Ltd. (GAMB) acquires NDC Media for $13.92 mln in cash and stock; to be immediately accretive to FY22 earnings
Microsoft (MSFT): FTC aiming to review Microsoft deal to purchase Activision (ATVI), according to Bloomberg
New York Times (NYT) acquires word game Wordle for "low seven figures", according to NY Times
Silvergate Capital (SI) acquires blockchain payment net assets from Diem for $182 mln in cash and stock
Sony Interactive (SONY) acquires Bungie
Waters (WAT) acquired the technology assets and intellectual property rights of Megadalton Solutions; Financial details of the transaction are not being disclosed
Syndicate:
Annaly Capital Mgmt (NLY) files mixed securities shelf offering
Veritone (VERI) files for 2,760,188 share common stock offering by selling shareholders
Xometry (XMTR) announces proposed private placement of $250 mln aggregate principal amount of Convertible Senior Notes due 2027
IPOs:
Expected to Price:
No IPOs expected to price.
Gapping Up/Down
Gapping up:
AWH +27.3%, SPIR +13.3%, SI +10.3%, ST +7.5%, XOS +7.4%, UBS +6.9%, ARCB +6.8%, UPS +5.6%, AU+4.8%, SANM +4.7%, CBT +4.1%, KRC +3.7%, IBRX+3.4%, SSRM +2.4%, CSWC +2.3%, WISH +2.3%, LI+2.1%, KOD +2.1%, GGG +2.1%, ENTG +1.9%, SONY+1.6%, SRE +1.2%, NYT +1.1%, NLY +0.6%, XPEV+0.5%
Gapping down:
HLIT -7.3%, XMTR -6.6%, WWD -5.5%, KMPR -5.4%, INN -4.4%, CRUS -3.8%, AXTA -3.7%, PCH -3.1%, CACC -2.7%, NIO -2.1%, CYRX -1.9%, AUDC -1.6%, VERI -1.4%, NMR -1.4%, WOLF -1.3%, MDC -1.3%, ARE -0.9%
Analyst Research (see Upgrades/Downgradescalendarfor full list):
Upgrades
BioNTech (BNTX) upgraded to Neutral from Sell at Redburn
Flywire (FLYW) upgraded to Strong Buy from Outperform at Raymond James; tgt lowered to $39
Harley-Davidson (HOG) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt raised to $40
Helix Energy (HLX) upgraded to Overweight from Neutral at Piper Sandler; tgt raised to $5.60
Moderna (MRNA) upgraded to Neutral from Sell at Redburn
Oceaneering Intl (OII) upgraded to Overweight from Neutral at Piper Sandler; tgt raised to $21
Wells Fargo (WFC) upgraded to Overweight from Neutral at Atlantic Equities; tgt $60
Workday (WDAY) upgraded to Outperform from Market Perform at BMO Capital Markets; tgt lowered to $295
Downgrades:
Cheniere Energy Partners (CQP) downgraded to Neutral from Buy at UBS; tgt $50
Others:
Amylyx Pharmaceuticals (AMLX) initiated with a Buy at Goldman; tgt $36
Anaplan (PLAN) initiated with a Market Perform at BMO Capital Markets; tgt $49
Avalara (AVLR) initiated with an Outperform at BMO Capital Markets; tgt $130
Bill.com(BILL) initiated with an Outperform at BMO Capital Markets; tgt $209
BlackLine (BL) initiated with a Market Perform at BMO Capital Markets; tgt $92
Ceridian HCM (CDAY) assumed with an Outperform at BMO Capital Markets; tgt $91
CinCor Pharma (CINC) initiated with a Buy at Jefferies; tgt $30
CinCor Pharma (CINC) initiated with an Overweight at Morgan Stanley; tgt $27
Coupa Software (COUP) initiated with a Market Perform at BMO Capital Markets; tgt $135
Criteo (CRTO) resumed with a Buy at Stifel; tgt $50
DoubleVerify (DV) initiated with a Buy at Stifel; tgt $29
Integral Ad Science (IAS) initiated with a Buy at Stifel; tgt $25
Intuit (INTU) initiated with an Outperform at BMO Capital Markets; tgt $625
Luminar Technologies (LAZR) initiated with a Neutral at Goldman; tgt $14
Meta Platforms (FB) resumed with a Buy at Stifel; tgt $400
Paycom Software (PAYC) initiated with a Market Perform at BMO Capital Markets; tgt $26
Paycor (PYCR) initiated with a Market Perform at BMO Capital Markets; tgt $26
Paylocity (PCTY) initiated with an Outperform at BMO Capital Markets; tgt $230
Performance Food Group (PFGC) initiated with a Buy at Truist; tgt $61
Perion Network (PERI) resumed with a Buy at Stifel; tgt $25
Pinterest (PINS) resumed with a Hold at Stifel; tgt $34
ProQR Therapeutics (PRQR) initiated with a Strong Buy at Raymond James; tgt $19
Snap (SNAP) resumed with a Buy at Stifel; tgt $45
SomaLogic (SLGC) initiated with a Buy at Stifel; tgt $12
Sysco (SYY) initiated with a Buy at Truist; tgt $89
The Trade Desk (TTD) resumed with a Hold at Stifel; tgt $68
Tremor (TRMR) resumed with a Buy at Stifel; tgt $20
Tritium DCFC (DCFC) initiated with an Outperform at Raymond James; tgt $10
Twitter (TWTR) resumed with a Hold at Stifel; tgt $39
US Foods (USFD) initiated with a Buy at Truist; tgt $43
Ventyx Biosciences (VTYX) initiated with an Outperform at Oppenheimer; tgt $30
Vertex (VERX) initiated with a Market Perform at BMO Capital Markets; tgt $15
Viracta Therapeutics (VIRX) initiated with an Outperform at RBC Capital Mkts; tgt $10
Volta (VLTA) initiated with a Buy at Canaccord Genuity; tgt $10
Workiva (WK) initiated with an Outperform at BMO Capital Markets; tgt $135
ZUpcoming Events:
Econ Data:
09:45 ET: IHS Markit Manufacturing PMI - Final for Jan (Briefing.comConsensus NA; Prior 57.7)
10:00 ET: ISM Manufacturing Index for Jan (Briefing.comConsensus 57.5%; Prior 58.7%)
10:00 ET: Construction Spending for Dec (Briefing.comConsensus 0.6%; Prior 0.4%)
10:00 ET: JOLTS - Job Openings for Dec (Briefing.comConsensus NA; Prior 10.562M)
Earnings:
Monday (Jan 31)
Morning: AKTS ATKR OTIS TT
Afternoon: AGNC ARE AXTA CBT CRUS CACC FN GGG HLIT HTLF HP JJSF KMPR KRC NXPI PCH SANM WWD
Tuesday (Feb 1)
Morning: ALGM ARCB TECH BR CTLT ENTG EPD AQUA XOM BEN GFF HLNE IMO LII MAN MDC NVR PNR PBI PINC PHM SMG ST SIRI SWK UBS UPS WAT
Afternoon: AMD GOOG AMCR DOX APAM ASH CB EA EHC EQR GM GILD HMN IEX LFUS MANH MTCH MRCY MSTR OI PYPL PKI SBUX SMCI TENB UNM
Wednesday (Feb 2)
Morning: ABBV ATI ABC AVY BSX EAT BIP CHRW CPRI CRS GIB DHI DT EMR EVR RACE HWM HUM IDXX JCI MMP MPC MPLX NYT NVS ODFL ROP SAIA SBH SLAB SR SPR TMO VNE WNC WM
Afternoon: EGHT ADTN AFL ALGN ALGT ALL AVB BDN CCS CHNG CCMP CTSH CLB CTVA DXC ELF ESS FORM FBHS GL THG HI HOLX KLIC LNC MXL MCK FB MET MTG MAA MUSA NTGR OHI OMF QRVO QCOM RYN RRR RRX SITM SKY SPOT TMUS TTEK TBI UGI YELL
Thursday (Feb 3)
Morning: ABB ABMD WMS AME APTV ARW AZEK BCE BDX BERY BIIB BV CAH CSII CG CHKP CI CMS COP CMI DLX LLY EL FTV GWW HAIN HBI HSY HON HUBB ITW INGR ICE JHG LANC LAZ LITE MMS MPW MRK MTOR MSGS NJR NOK NS PH PENN PBH DGX RL SNDR RDS.A SNA TKR TW VSAT VSTO WD WEC WRK XYL
Afternoon: ATVI AMZN AINV AVTR BECN BHE BILL BYD CPT CDK CLX COLM CUZ DECK DLB ENVA EXPO F FTNT GPRO HIG LCI LESL LGF.A LPLA MCHP MIME MTX MWA NFG NWSA NLOK NOV OTEX PYCR PCTY PFSI PINS POST POWI PRU RGA SIGI SKX SKYW SWKS SNAP SYNA U VIAV WERN WWE
Friday (Feb 4)
Morning: ADNT APD AON BMY BEP CBOE ROAD ETN REGN SNY SPB TWST
Asia & Europe detail:
Asia: Nikkei +0.3%, Hang Seng CLOSED, Shanghai Composite CLOSED
Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note while markets in China, South Korea, Singapore, and Hong Kong were closed. Japan's Manufacturing PMI expanded for the 12th consecutive month in the January reading. Tokyo is reportedly seeking another coronavirus emergency declaration from the Japanese government. The Reserve Bank of Australia left its cash rate at 0.10% and announced the end of its asset purchase program, as expected.
In economic data:
Japan's January Manufacturing PMI 55.4 (expected 54.6; last 54.3). December Unemployment Rate 2.7% (expected 2.8%; last 2.8%)
South Korea's January trade deficit $4.89 bln (last deficit of $450 mln). January Imports 35.5% yr/yr (expected 32.8%; last 37.1%) and Exports 15.2% yr/yr (expected 15.5%; last 18.3%)
India's January Nikkei Markit Manufacturing PMI 54.0 (expected 54.6; last 55.5)
Australia's December AIG Manufacturing Index 48.4 (last 54.8), December Retail Sales -4.4% m/m (expected 3.9%; last 7.3%), and December Home Loans 5.3% m/m (last 7.6%)
New Zealand's December trade deficit NZD477 mln (expected deficit of NZD700 mln; last deficit of NZD1.06 bln)
---Equity Markets---
Japan's Nikkei: +0.3%
Hong Kong's Hang Seng: CLOSED
China's Shanghai Composite: CLOSED
India's Sensex: +1.5%
South Korea's Kospi: CLOSED
Australia's ASX All Ordinaries: +0.6%
---FX---
USD/JPY: -0.4% to 114.62
USD/CNH: UNCH at 6.3692
USD/INR: +0.4% to 74.86
Europe: DAX +1.1%, FTSE +0.9%, CAC +1.1%
Major European indices trade on a firmly higher note. January Manufacturing PMI readings from major European economies remained in expansion, though some missed expectations. The European Central Bank's lending survey for Q1 observed a slight tightening in credit standards for corporations. Belgium will lower the tax rate on electricity and issue one-time rebates to consumers. Swiss National President Jordan said that there was no sign of a wage-price cycle in Switzerland and that the inflation rate is near its peak. Finland joined England, Ireland, and Denmark in lifting all coronavirus restrictions.
In economic data:
Eurozone's December Unemployment Rate 7.0% (expected 7.1%; last 7.1%) and January Manufacturing PMI 58.7 (expected 59.0; last 58.0)
Germany's December Retail Sales -5.5% m/m (expected -1.4%; last 0.8%); 0.0% yr/yr (expected 1.1%; last 0.5%). January Manufacturing PMI 59.8 (expected 60.5; last 57.4). January Unemployment Rate 5.1% (expected 5.2%; last 5.2%)
U.K.'s December Mortgage Lending GBP3.57 bln (expected GBP3.52 bln; last GBP3.78 bln) and December BoE Consumer Credit GBP831 mln (expected GBP800 mln; last GBP999 bln). January Manufacturing PMI 57.3 (expected 56.9; last 57.9) and January Nationwide HPI 0.8% m/m (expected 0.6%; last 1.0%); 11.2% yr/yr (expected 10.8%; last 10.4%)
France's January CPI 0.3% m/m (expected -0.2%; last 0.2%); 2.9% yr/yr (expected 2.4%; last 2.8%). January Manufacturing PMI 55.5, as expected (last 55.6)
Italy's December Unemployment Rate 9.0% (expected 9.2%; last 9.1%) and January Manufacturing PMI 58.3 (expected 61.0; last 62.0)
Swiss December Retail Sales -0.4% yr/yr (expected 5.5%; last 5.3%), January procure.chPMI 63.8 (expected 64.0; last 62.7), and Q1 SECO Consumer Climate 3 (last 8)
---Equity Markets---
STOXX Europe 600: +1.2%
Germany's DAX: +1.1%
U.K.'s FTSE 100: +0.9%
France's CAC 40: +1.1%
Italy's FTSE MIB: +1.2%
Spain's IBEX 35: +1.3%
---FX---
EUR/USD: +0.3% to 1.1271
GBP/USD: +0.4% to 1.3500
USD/CHF: -0.6% to 0.9211
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