📆 Wednesday, January 31
► In Europe, the Stoxx 600 index edged up by 0.2% in contrast to losses in Asia and in the US (pre-market). Novo Nordisk's market value soared to $500 billion, driven by the success of its obesity treatment Wegovy, marking a rare milestone for European companies. Hennes & Mauritz (H&M) experienced a 10% share drop following it’s disappointing earnings report and CEO change. On the economic front, Germany reported a decline in retail sales, indicating potential consumer caution and a slowdown in domestic spending. Our chief analyst Robert Lindner has said over the last months that Germany's economy show strong signs of structural weakness and will continue to weigh on the Eurozone economy. Germany is suffering from weak leadership, the most unpopular government in German post-war history and very weak reforms that are also causing lasting damage to the German economy. In addition to this German unemployment decreased slightly. Market’s await for the release of German inflation later today (13:00 UTC+0).
► US futures fell following earnings reports from tech giants Microsoft, Alphabet, and AMD, which left investors unimpressed. The Nasdaq dropped close to 0.9%, while the S&P 500 declined by 0.4%. These results, combined with Samsung’s profit decline, dampened the tech sector's outlook. All eyes are on the Federal Reserve's decision today, with the FOMC expected to keep rates steady. Market anticipates Jerome Powell’s remarks post-meeting for future monetary policy cues, particularly regarding potential rate cuts.
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