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Morning Brew February 27 2024
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Erik Schafhauser
Senior Relationship Manager
Good Morning,
Tech remains strong given if slightly off the highs as traders try to decide what focus on next. Yesterday the Dow lost 0.15%, the S&P 500 0.4% and the Nasdaq 0.13%.
The USD Index fell to 103.70 while 10 Year yields are at 4.28. EURUSD is 1.0858 , GBPUSD 1.2690 and USDJPY 150.4 after a higher CPI in Japan.
Gold and Silver are 2033 and 22.60, Bitcoin jumped to 56k.
Headlines are:
- Israel agrees to halt attacks during Ramadan
- US is once again approaching the debt ceiling
- Inflation in Japan 0.2% higher than expected
- Macron did not rule out sending troops toUkraine.
Sentiment is a bit tricky to read ahead of the US and EU inflation data on Thursday and Friday but I suggest to remain nimble and open minded.
We have two key articles to digest today by Peter and Kim:
Earnings Watch: Salesforce, Snowflake, and Leonardo
Technical Update - Nvidia: Buyers running out of steam? Or potential to much higher price levels? See here how and why?
Key Data:
Tuesday
- Data Japan CPI, US Durable Goods & Consumer Confidence
- Earnings: Bank of Nova Scotia, Bank of Montreal, Sempra, Constellation Energy, Lowe's, Muenchener Rueck, AutoZone, American Electric Power
Wednesday
- Data Australia CPI, EU Consumer Confiddence, US GDP
- Earnings: Oversea-Chinese Banking, Holcim, Royal Bank of Canada, TJX Cos, Salesforce, Snowake, Monster Beverage, Universal Music, Reckitt Benckiser
Thursday
- Data CH FX Reserves, DE Unemployment Rate, US PCE, Initial Jobless claims
- Earnings: Alimentation, Anheuser-Busch, CRH, NetEase, Dell Technologies, Autodesk, London Stock Exchange Group
Friday
- Data EU HICP International PMI, NO Nonfarm Payroll
Expiries
Physically Settled Futures
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