📆 Friday, January 19
► European markets points to a solid end of the week. The Stoxx Europe 600 index climbs for a second day – currently up slightly at 0.15%, with technology and food & beverage sectors leading the charge. Temenos and Teleperformance saw notable gains in the stock market. German producer prices drop more than expected, pointing to easing inflation but also weak consumer demand. UK retail sales also decline, underscoring economic challenges. The gains in Europe are in particular also thanks to the gains in New York – which are almost fully tech/AI/sentiment driven according to our chief analyst Robert Lindner.
► US equity futures indicate a positive outlook with the Nasdaq 100 trading 0.45% higher, buoyed by Taiwan Semiconductor Manufacturing’’s promising earnings. Investors keep a close eye on Fed Reserve speakers for cues on interest rate cuts. The Treasury and USD markets stabilized following a week of intense repricing of Fed rate policy. Traders now see a March rate cut as less likely, with odds now akin to a coin toss. We also see today that yields point towards further gains – which continues to pressure risk assets – including stocks.
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