📆 Wednesday, March 6
► In Europe, markets showed slight movements with the Stoxx 600 jumping 0.35%, amidst anticipation for the UK's budget announcement and its detailed bond issuance plan. Germany reported a trade surplus of €27.5 billion, exceeding market predictions of €21.5 billion significantly and an increase from the revised €23.3 billion the previous month. This surplus set a new record, fueled by a larger growth in exports compared to imports. Investors remain vigilant, gauging potential impacts on market stability and fiscal strategies ahead.
► US stock futures saw modest gains, after a hefty tech stock sell-off yesterday and ahead of Powell's remarks. Market participants are closely watching for Federal Reserve Chair Jerome Powell's upcoming testimony today. Amidst expectations for Powell to stress on patience regarding rate cuts, the US stock rally's momentum hangs in balance, influenced by valuation concerns and forthcoming economic data. Our chief analyst assumes that Powell will reiterate that the Fed is in no hurry to cut interest rates, but that there will be nothing else new and that market sentiment may become positive again after Powell's testimony.
► Asian shares reflect mixed sentiment, with Hong Kong's markets rebound, led by tech giants Alibaba and Tencent, contrasting with mainland China's stocks that declined due to varying investor reactions to government measures aimed at boosting consumption. Japan's stance on shifting from negative interest rates also captured attention, suggesting significant monetary policy adjustments ahead.
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