📆 Thursday, February 29
► European markets present a mixed picture, overall the Stoxx 600 index sees an overall gain of 0.3%. In corporate news, Moncler shines after exceeding profit expectations, while Air France-KLM and Anheuser-Busch disappoint with a Q4 loss and missed profit expectations respectively. The day's focus includes significant economic indicators like Germany's CPI and US PCE data, providing insights into inflationary trends and potential monetary policy adjustments.
► US stock futures saw a decline, with S&P 500 and Nasdaq dropping by 0.3%, as the market awaits the Federal Reserve preferred inflation measure, which plays an important role for future rate decisions. The upcoming US core PCE data (13:30 UTC+0) is anticipated to reveal the Federal Reserve's challenges in stabilizing inflation towards the 2% target. Wall Street was also impacted by a series of earnings reports released yesterday after the close: Salesforce is trading 1.8% lower, although the company reported strong earnings and announced it would pay a dividend of 40 cents per share. However, the forecasts was not spectacular enough according to our Chief Analyst and did not mention AI as a strong driver for more revenue, even if projections came in above expectations. Snowflake plunged more than 20% after the enterprise software company announced the resignation of its CEO Frank Slootman and issued a disappointing forecast. Duolingo and Okta rose by almost 20% following good forecasts. AI stock C3.ai rose more than 13% after reporting a smaller-than-expected adjusted loss and slightly beating revenue estimates.
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