📆 Wednesday, February 5
► European markets traded mixed on Wednesday as investors weighed corporate earnings against growing concerns over escalating US-China trade tensions. The Stoxx 600 ist flat (+ 0.1%). Germany’s DAX is little changed pressured by weaker domestic industrial data despite Germany’s Services PMI hitting a six-month high at 52.5, signaling resilience in the services sector. Meanwhile, France’s CAC 40 dipped 0.2%, as weaker-than-expected services activity and a 0.4% decline in industrial production raised concerns about slowing economic momentum. In corporate news, Novo Nordisk surged more than 3% after reporting stronger-than-expected Q4 profits driven by a 107% jump in Wegovy sales. TotalEnergies rose 2.8% despite reporting a sharp drop in full-year earnings. TotalEnergies announced an 8% dividend hike and gave a robust 2025 outlookwith plans to expand hydrocarbon production and boost investments in low-carbon energy.
► US stock futures declined, pointing to some weakness on Wall Street after disappointing earnings from tech giants Alphabet (GOOGL) and Advanced Micro Devices (AMD). Nasdaq 100 futures fell 0.7%, while S&P 500 futures were down 0.4%. Alphabet’s Q4 revenue missed estimates, with a notable slowdown in its cloud division, raising concerns about the company’s aggressive AI investments. AMD also disappointed with a weak outlook for its data center business, highlighting struggles to compete with AI leader Nvidia. Investors are now looking ahead to Amazon’s earnings on Thursday, while key data including the US ISM Services PMI and Friday’s nonfarm payrolls report could offer insights into the Federal Reserve’s next moves on interest rates. Apple dropped in premarket trading after China’s antitrust watchdog signaled a probe into the company’s policies (following the antitrust probe into Google) – it follows signs of worsening tensions between the US and China.
► Asian markets were mixed as investors reacted to heightened US-China trade tensions and fresh economic data. Japan’s Nikkei 225 edged up slightly by 0.08%, supported by strong wage growth and a rebound in services activity, with the Services PMI rising to 53.0, its highest in months. The JPY strengthened past 154 / USD on safe-haven demand amid global uncertainty. In contrast, China’s Shanghai Composite dropped 0.63% after reopening post-Lunar New Year, pressured by weaker-than-expected services sector growth and new US tariffs. The offshore CNY weakened to around 7.29/USD. Hong Kong’s Hang Seng Index slipped 0.93%, dragged down by tech stocks following an antitrust probe into Google and Apple.
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