📆 Tuesday, February 6
► European stocks trade slightly higher boosted by strong results of oil & gas giant BP. The Stoxx 600 trades 0.25% higher currently. BP announced a significant share buyback plan after robust quarterly results, sending its stocks up by 6%. Meanwhile, the UBS Group experienced a retreat as its earnings fell short of expectations, dampening investor sentiment. Germany saw a surprising 8.9% MoM increase in factory orders for December 2023. The construction sector, howerver, faces massive challenges, with the HCOB Germany Construction PMI dropping to 36.3, one of the lowest number on record. Across Europe, construction outputs and retail sales show mixed results, with declines seen in Czech Republic and Slovakia.
► US equity are little changed. US investors overall remain optimistic as they digest a mix of corporate earnings and economic data. Following a sharp rise in previous sessions, the 10 year treasury yield found some stability at 4.14%. This comes as investors recalibrate their expectations around Federal Reserve's interest rate decisions, influenced by recent remarks from Fed Chair Jerome Powell and strong economic indicators. USD saw a slight retreat, offering a breather after its recent surge against major counterparts. This shift reflects the market's ongoing assessment of the global economic landscape and the Fed's policy trajectory.
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