Markets opened the week in a bit of a holding pattern ahead of several key catalysts. on Tuesday the UK Parliament voted on various non-binding Brexit amendments which set the stage for what UK officials hope will be another round of negotiations with EU officials in February.
The improving sentiment was further aided by what appear to have been constructive high level US/China trade talks in Washington D.C. Reports even speculated that enough progress had been achieved to allow for the potential of another Trump/Xi summit in early March.
For the week, the S&P gained 1.6%, the DJIA added 1.3%, and the Nasdaq rose 1.4%. In corporate news this week, earnings releases continued apace.
Caterpillar opened the week with a miss on both its top and bottom line, while its outlook fell short of expectations.
Nvidia cut its guidance, blaming deteriorating macroeconomic conditions, especially in China.
Apple shares lifted despite guiding lower than anticipated after reassuring commentary from management.
Boeing rocketed higher after a huge earnings beat, and the company forecast it would shatter delivery records in FY19.
Facebook surged on an EPS and revenue beat, with CEO Zuckerberg noting the Instagram Stories feature now has 500M daily active users, 25% higher than six months ago.
Amazon rolled over during its earnings conference call when the CFO said he would expect investment spending to increase this year.
Macro :
- Asia Stocks Having a ‘Bear-Market Bounce,’ JPMorgan Asset Says
- JPMorgan Says 2020 ‘Might Not Be Year to Think About Recession’
- Dollar Vortex Puts Chill on Earnings That May Worsen in Spring
Keep an eye on :
- ABI BB : Anheuser-Busch InBev Is Said to Pick Banks for Asia Business IPO
- AED BB : Aedifica Completes Acquisition of 92 Units in U.K. for GBP450M
- ATC NA : Altice to Start Auction For Portugal Cable Network Sale: Rtrs
- BAMI IM : Banco BPM to Present New Business Plan By Year End, CEO Says
- COFB BB : Cofinimmo Buys Dutch Care Home for EU4M at~5.5% Yield
- DAI GY : Mercedes-Benz Jan. U.S. Luxury Car Sales Down 11.1%
- DAI GY : Mercedes Wins Partial Dismissal of Emissions Cheating Case in NJ
- DEB LN : Debenhams Eyes Company Voluntary Arrangement Rescue Plan: FT
- DBK GY : Deutsche Bank Tried to Shed VTB Loan in 2016, WSJ Says
- DIE BB : Belgian Jan. Car Registrations Drop 10%; D’Ieteren Share 20.1%
- EOAN GY : German Utilities File Complaints Against EON/RWE Deal: Spiegel
- RF FP : Eurazeo: Proceeds From Neovia Stake Sale Amount to EU170M
- RMS FP : Hermes to Pay One-Time EU1,000 Bonus to More Than 7,000 Workers
- ILD FP : Inwit to Host Iliad Antennas on Towers for 4G, 5G
- FLYB LN : Flybe Confirms It Received Preliminary Contingency Proposal
- KN FP : Natixis Said to Seek Sale of Korean Derivatives That Blew Up (1)
- NOVOB DC : Novo Nordisk Doubles U.K. Inventory to Prepare for Brexit: WSJ
- MKS LN : M&S in talks to acquire Ocado distribution centre and fleet for GBP 850m; short window to agree deal by month-end
- MTRO LN : Hedge Funds Circling Troubled Metro Bank
- OCDO LN : M&S in talks to acquire Ocado distribution centre and fleet for GBP 850m; short window to agree deal by month-end
- REC IM : Rossini Says Only 0.03% of Recordati Capital Subscribed in Offer
- ROG SW : FDA Classifies Roche CoaguChek Recall as Class 1
- RWE GY : German Utilities File Complaints Against EON/RWE Deal: Spiegel
- SIE GY : Siemens, DEWA Start Building Hydrogen Energy Plant in Dubai (2)
- SCAB SS : Swedish Dockworkers Threaten More Strikes Next Week, DI Reports
- SPOT US : Spotify is in talks to buy Gimlet for more than $200 million. That’s a big deal for the podcasting world. http://bit.ly/2WuQgAe - Recode
- SCRG SW : Sunrise in Talks to Buy Liberty Global’s Swiss Cable Unit: FT
- TKA GY : Thyssenkrupp AG Elects Martina Merz as Chairwoman
- FP FP : Total Is Said to Weigh Bidding for Eneco in Challenge to Shell
- FP FP : Total Close to 1B Pound Sale of North Sea Stake: Telegraph
- VOW3 GY : Volkswagen of America January U.S. Auto Sales Down 6.7% Y/y