📆 Friday, March 1
► Stocks climb as US & European inflation metrics don't come hotter-than-expected, calming fears that rates remain higher for much longer or even more hikes would have been needed. The S&P 500, Nasdaq, DAX and Japan's Nikkei 225 reached new highs, propelled by tech sector gains, particularly by Nvidia’s record performance.
► European Stoxx 600 rose by 0.25%. France and Germany showed divergent developments in the manufacturing sector: In France, the contraction in economic activity slowed, while in Germany it fell for the first time in seven months, underlining the complexity of the economic recovery in the region and the continuing economic distress in Germany. Attention turns to manufacturing data across the globe, with Europe and the US poised for updates. The market also watched Eurozone inflation data – while hotter-than-expectations – disinflation continued.
► In the US, January's PCE data, the FED's Inflation Gauge, aligned with forecasts, signaling a steady but manageable inflation rate. This, coupled with slightly softening jobless claims, injects optimism into the markets. Fed officials signal readiness for rate adjustments, balancing disinflationary trends with economic strength. US equity futures show some gains with the Nasdaq up 0.2%, and the S&P 500 showing little movement after a week of earnings reports. Congratulations to the community – we did a great job navigating through this data that sparked a lot of selling and concerns and secured strong profits with Salesforce, Microsoft, Goldman Sachs, Coinbase, to name a few.
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