📆 Friday, February 23
► In Europe, the Stoxx Europe 600 index remains unchanged after a week of gains that pushed the Stoxx 600 to a new all-time high. A small group of European mega caps (ASML, SAP, LVMH, and Novo Nordisk) has been driving European stock gains, highlighting a risk of market concentration similar to the US. In corporate news, BASF and Standard Chartered reported positive financial developments, while Allianz earnings met expectations. German GDP data came in poor (-0.2% YoY / -0.3% QoQ) showing that the German economy is in recessionary territory – but data met expectations.
► In the US, equity futures took a breather after it’s impressive performance yesterday. Hawkish comments from Federal Reserve officials have not deterred the market, with the focus remaining on potential policy adjustments in response to slowing disinflation.
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