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01/02/22 Briefing

Updated: Feb 15

The S&P 500 futures trade three points, or 0.1%, above fair value on the first day of February, as the market takes a breather from a two-day rebound rally. The benchmark index is up 4.4% over the last two sessions.

Price action this morning has been relatively calm in front of the ISM Manufacturing Index for January (Briefing.comconsensus 57.5%) at 10:00 a.m. ETand Alphabet's (GOOG 2719.35, +5.38, +0.2%) earnings report after the close. January Manufacturing PMIs in Japan and Europe remained in expansion territory.

The Construction Spending report for December (Briefing.comconsensus 0.6%) and the JOLTS - Job Openings report for December will be released concurrently with the ISM report and will be preceded by the preliminary IHS Markit Manufacturing PMI for January at 9:45 a.m. ET.

In the meantime, investors are reviewing another decent round of earnings reports. UPS (UPS 217.07, +14.86, +7.4%) stands out with a 7% gain in pre-market action after beating top and bottom-line estimates and guiding FY22 EPS above consensus. Exxon Mobil (XOM 77.40, +1.44, +1.9%) beat EPS estimates.

U.S. Treasury yields have edged lower across the curve amid an uptick in demand. The 2-yr yield is down two basis points to 1.14%, and the 10-yr yield is down three basis points to 1.75%. The U.S. Dollar Index is down 0.3% to 96.30. WTI crude futures are down 0.5% to $87.71/bbl.

In U.S. Corporate news:

  • UPS (UPS 217.07, +14.86): +7.4% after beating top and bottom-line estimates and guiding FY22 EPS above consensus.

  • AT&T (T 24.37, -1.13): -4.4% after announcing plans to spin off interest in WarnerMedia to its shareholders at closing of previously announced transaction with Discovery (DISCA 27.25, -0.66, -2.4%).

  • Exxon Mobil (XOM 77.40, +1.44): +1.9% after beating EPS estimates.

  • NXP Semi (NXPI 206.89, +1.45): +0.7% after beating top and bottom-line estimates, guiding Q1 revenue above consensus, approving a $2.0 billion share repurchase program, and increasing its quarterly dividend by 50%.

  • Cirrus Logic (CRUS 85.99, -3.45): -3.9% despite beating top and bottom-line estimates and guiding fiscal Q4 revenue above consensus.

Reviewing overnight developments:

  • Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note while markets in China, South Korea, Singapore, and Hong Kong were closed. Japan's Nikkei: +0.3% Hong Kong's Hang Seng: CLOSED China's Shanghai Composite: CLOSED India's Sensex: +1.5% South Korea's Kospi: CLOSED Australia's ASX All Ordinaries: +0.6%.

  • In economic data:

  • Japan's January Manufacturing PMI 55.4 (expected 54.6; last 54.3). December Unemployment Rate 2.7% (expected 2.8%; last 2.8%) South Korea's January trade deficit $4.89 bln (last deficit of $450 mln). January Imports 35.5% yr/yr (expected 32.8%; last 37.1%) and Exports 15.2% yr/yr (expected 15.5%; last 18.3%)

  • India's January Nikkei Markit Manufacturing PMI 54.0 (expected 54.6; last 55.5)

  • Australia's December AIG Manufacturing Index 48.4 (last 54.8), December Retail Sales -4.4% m/m (expected 3.9%; last 7.3%), and December Home Loans 5.3% m/m (last 7.6%)

  • New Zealand's December trade deficit NZD477 mln (expected deficit of NZD700 mln; last deficit of NZD1.06 bln)


  • In news:

  • Japan's Manufacturing PMI expanded for the 12th consecutive month in the January reading.

  • Tokyo is reportedly seeking another coronavirus emergency declaration from the Japanese government.

  • The Reserve Bank of Australia left its cash rate at 0.10% and announced the end of its asset purchase program, as expected.



  • Major European indices trade on a firmly higher note. STOXX Europe 600: +1.2% Germany's DAX: +1.1% U.K.'s FTSE 100: +0.9% France's CAC 40: +1.1% Italy's FTSE MIB: +1.2% Spain's IBEX 35: +1.3%.

  • In economic data:

  • Eurozone's December Unemployment Rate 7.0% (expected 7.1%; last 7.1%) and January Manufacturing PMI 58.7 (expected 59.0; last 58.0)

  • Germany's December Retail Sales -5.5% m/m (expected -1.4%; last 0.8%); 0.0% yr/yr (expected 1.1%; last 0.5%). January Manufacturing PMI 59.8 (expected 60.5; last 57.4). January Unemployment Rate 5.1% (expected 5.2%; last 5.2%)

  • U.K.'s December Mortgage Lending GBP3.57 bln (expected GBP3.52 bln; last GBP3.78 bln) and December BoE Consumer Credit GBP831 mln (expected GBP800 mln; last GBP999 bln). January Manufacturing PMI 57.3 (expected 56.9; last 57.9) and January Nationwide HPI 0.8% m/m (expected 0.6%; last 1.0%); 11.2% yr/yr (expected 10.8%; last 10.4%)

  • France's January CPI 0.3% m/m (expected -0.2%; last 0.2%); 2.9% yr/yr (expected 2.4%; last 2.8%). January Manufacturing PMI 55.5, as expected (last 55.6)

  • Italy's December Unemployment Rate 9.0% (expected 9.2%; last 9.1%) and January Manufacturing PMI 58.3 (expected 61.0; last 62.0)

  • Swiss December Retail Sales -0.4% yr/yr (expected 5.5%; last 5.3%), January procure.chPMI 63.8 (expected 64.0; last 62.7), and Q1 SECO Consumer Climate 3 (last 8)


  • In news:

  • January Manufacturing PMI readings from major European economies remained in expansion, though some missed expectations.

  • The European Central Bank's lending survey for Q1 observed a slight tightening in credit standards for corporations.

  • Belgium will lower the tax rate on electricity and issue one-time rebates to consumers.

  • Swiss National President Jordan said that there was no sign of a wage-price cycle in Switzerland and that the inflation rate is near its peak.

  • Finland joined England, Ireland, and Denmark in lifting all coronavirus restrictions.



U.S. equity futures:

  • S&P 500 Futures: -5 @ 4,511

  • DJIA Futures: -39 @ 35,093

  • Nasdaq 100 Futures: +18 @ 14,959

Overseas:

  • Europe: DAX +1.1%, FTSE +0.9%, CAC +1.1%

  • Asia: Nikkei +0.3%, Hang Seng CLOSED, Shanghai Composite CLOSED

Commodities:

  • Crude Oil -0.42 @ 87.73

  • Nat Gas -0.059 @ 4.815

  • Gold +10.70 @ 1805.70

  • Silver +0.572 @ 22.965

  • Copper +0.0657 @ 4.3902

U.S. Summary:

  • Earnings/Guidance (Full Earnings Calendar):

  • AGNC Investment (AGNC) reports Q4 (Dec) results, net interest income decreased 11.5% sequentially

  • Alexandria RE (ARE) reports FFO in-line, beats on revs; guides FY22 FFO in-line

  • AMC Entertainment (AMC) guides Q4 revs above consensus

  • AngloGold Ashanti (AU) provides FY21 trading update; sees FY21 EPS in-line with expectations

  • ArcBest (ARCB) beats by $0.52, beats on revs

  • Audiocodes (AUDC) beats by $0.01; beats on revs

  • Axalta Coating Systems (AXTA) misses by $0.01, reports revs in-line; guides Q1 EPS below consensus, revs below consensus

  • Bio-Techne (TECH) beats by $0.09, beats on revs; approves new share repurchase program

  • Broadridge Financial (BR) misses by $0.02, beats on revs; reaffirms FY22 EPS guidance

  • Buenaventura (BVN) reports Fourth Quarter 2021 production results and 2022 production guidance

  • Cabot (CBT) beats by $0.19, beats on revs; guides FY22 EPS above consensus

  • Catalent (CTLT) beats by $0.07, beats on revs; guides FY22 revs above consensus

  • Cirrus Logic (CRUS) beats by $0.40, beats on revs; guides MarQ revs above consensus

  • Credit Acceptance Corp. (CACC) beats by $1.89, reports revs in-line

  • Entegris (ENTG) beats by $0.07, beats on revs; guides Q1 EPS above consensus, revs above consensus

  • Enterprise Products (EPD) misses by $0.07, beats on revs

  • Evoqua Water (AQUA) beats by $0.04, beats on revs

  • Exxon Mobil (XOM) beats by $0.11, reports revs in-line

  • Fabrinet (FN) beats by $0.04, beats on revs; guides MarQ EPS above consensus, revs above consensus

  • Graco (GGG) beats by $0.03, beats on revs

  • Hamilton Lane (HLNE) beats by $0.36, misses on revs; raises full year dividend 12% to $1.40/share

  • Harmonic (HLIT) beats by $0.03, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY22 EPS below consensus, revs above consensus at midpoint

  • Heartland Financial (HTLF) misses by $0.10, misses on revs

  • Helmerich & Payne (HP) beats by $0.02, beats on revs

  • J&J Snack Foods (JJSF) misses by $0.10, beats on revs

  • Kemper (KMPR) reports Q4 (Dec) results, misses on revs

  • Kilroy Realty (KRC) beats by $0.09, beats on revs

  • Lennox Int'l (LII) beats by $0.36, beats on revs; guides FY22 EPS in-line, reaffirms FY22 revs guidance

  • Li Auto (LI) reports January deliveries increased 128.1% yr/yr

  • Manpower (MAN) beats by $0.18, reports revs in-line; guides Q1 EPS above consensus

  • MDC Holdings (MDC) misses by $0.28, misses on revs

  • NIO (NIO) reports January deliveries increased 33.6% yr/yr

  • Nomura Holdings (NMR) reports nine-month results; revs decline 14.5%

  • NXP Semi (NXPI) beats on EPS, beats on revs, guides Q1 revenue above consensus, approves 50% increase to quarterly cash dividend, approves $2.0 bln share repurchase program

  • Pentair (PNR) beats by $0.02, beats on revs; guides Q1 EPS below consensus, revs in-line; guides FY22 EPS in-line, revs in-line

  • Pitney Bowes (PBI) misses by $0.05, beats on revs; guides FY22 revs in-line

  • PotlatchDeltic (PCH) misses by $0.01, misses on revs

  • Premier (PINC) beats by $0.08, beats on revs; lowers FY22 EPS guidance below consensus, raises revenue guidance above consensus at midpoint

  • PulteGroup (PHM) beats by $0.21, beats on revs; announces $1.0 bln share repurchase

  • Sanmina (SANM) beats by $0.13, beats on revs; guides Q2 EPS mostly above consensus, revs above consensus

  • Scotts Miracle-Gro (SMG) misses by $0.15, reports revs in-line; increases outlook for US consumer unit

  • Sensata Tech (ST) beats by $0.06, beats on revs; guides Q1 EPS below consensus, revs in-line; guides FY22 EPS below consensus, revs above consensus

  • Sirius XM (SIRI) beats by $0.01, beats on revs; guides FY22 revs above consensus; declares special cash dividend

  • Spire Global (SPIR) guides Q4 revs above consensus; guides FY22 above consensus

  • SSR Mining (SSRM) reports FY21 production at top end of guidance

  • Stanley Black & Decker (SWK) beats by $0.09, misses on revs; guides FY22 EPS above consensus

  • UBS AG (UBS) beats by $0.11, beats on revs

  • UPS (UPS) beats by $0.49, beats on revs; guides FY22 revs above consensus

  • Waters (WAT) beats by $0.18, beats on revs; guides Q1 EPS in-line; guides FY22 EPS in-line, revs above consensus

  • Woodward (WWD) misses by $0.27, misses on revs, cites supply chain constraints and labor shortages; but remains confident in FY22 prior guidance, authorizes $800 mln share buyback and increases quarterly dividend by 17%

  • Xometry (XMTR) guides Q4 revs of $65.5-67.5 mln, coming in above consensus; excluding Thomas Publishing revs, expects Q4 revs of $62.0-63.0 mln, in-line with consensus

  • Xos (XOS) raises guidance for Q4 revs and deliveries

  • XPeng (XPEV) reports January deliveries increased 115% yr/yr


  • General News:

  • Russia responds to US proposal to de-escalate the Ukraine situation, but it is unknown what the response said, according to the Washington Post

  • RBA decided to maintain the cash rate target at 10 basis points; It also decided to cease further purchases under the bond purchase program, with the final purchases to take place on February 10

  • California pulls bill from consideration that would create single payer healthcare system in the state, according to the Wall Street Journal

  • OPEC+ aiming to approve another output increase this week, according to Bloomberg

  • Rep. Ed Perlmutter (D-CO) will attach banking act for cannabis companies to China competition bill, but Senate leadership in both parties have shown little interest in these types of reforms, according to Cannabis Business Times

  • Macau Gaming Inspection and Coordination Bureau earlier reported January 2022 gross revs -20.9 yr/yr to HKD 6.344 bln versus +1.8% in December of 2021

  • Accenture (ACN) appoints Manish Sharma as COO, effective March 1

  • Altus Power (AMPS) and Heliene form strategic partnership to support solar manufacturing in the U.S.

  • Amerant Bancorp (AMTB) authorizes new share repurchase program of up to $50 mln

  • Amgen (AMGN) and Novartis amend license and collaboration agreement

  • Anavex (AVXL) reports results from AVATAR Phase 3 trial of ANAVEX 2-73

  • Aspira Women's Health (AWH) announces addition of 465,000 covered lives

  • AT&T (T): HBO Max will be introduced in 15 European countries on March 8, according to Reuters

  • Bitfarms (BITF) provides January 2022 production and operations update

  • CGI Group (GIB) secures a $133.9 mln Task Order under its new $250M BPA to manage and maintain financial solutions across the Department of Justice

  • Clene (CLNN) announces the appointment of Morgan Brown as Chief Financial Officer effective Feb. 1, 2022

  • CMS Energy (CMS) and General Motors (GM) agree to power three michigan auto plants with 100% clean energy

  • Cryoport (CYRX) provides update on fire damage at MVE's New Prague facility

  • Cytokinetics (CYTK) announces "positive" topline results from Cohort 3 of REDWOOD-HCM

  • Daimler AG (DDAIF) will become Mercedes-Benz Group AG on February 1, 2022

  • Eagle Pharma (EGRX) announces the commercial availability of its novel product PEMFEXY

  • Electronic Arts (EA) appoints Chris Suh as CFO, effective March 1

  • Embark Technology (EMBK) appoints Stephen Houghton as COO

  • Enerpac Tool Group (EPAC) announces upcoming departure of CFO Rick Dillon

  • Eneti (NETI) has discontinued discussions with a shipyard in the United States to build a Jones Act-compliant Wind Turbine Installation Vessel

  • Envista (NVST) extends commercial relationship with Pacific Dental Services

  • Gannett (GCI) announces that the Company's Board of Directors authorized a share repurchase program for the repurchase of up to $100 mln of the Company's common stock

  • General Electric (GE): Qatar Airways signs order for GE9X Engines to power Boeing 777-8 Freighters

  • Greif (GEF) announces that Ole Rosgaard assumes the role of President and Chief Executive Officer

  • Grupo Televisa (TV) creates combination with Univision

  • IAMGOLD (IAG): RCF releases open letter to the Board of IAMGOLD and announces intention to nominate independent directors

  • ImmunityBio (IBRX) Announces Promising Clinical Study Results for 'Kick and Kill' HIV Cure Strategy to Reduce HIV Viral Load with Anktiva (N-803) Therapy

  • Invesco (IVZ) announces changes to its Board of Directors; Trian expresses confidence in Invesco's leadership - Nelson Peltz and Ed Garden step down from the Board

  • Lockheed Martin (LMT) awarded $1.4 bln Air Force contract; Sikorsky Aircraft awarded $680 mln Navy contract

  • Microsoft (MSFT) and Striim announce an expansion of their strategic relationship with a new assessment and migration managed service providing fast, automated migration of enterprise databases from on-premises or a cloud to Microsoft Azure databases

  • MultiPlan (MPLN) transitions CEO role to Dale White, effective February 1

  • Northern Oil & Gas (NOG) declares $0.14 cash dividend on its common stock, a 75% increase over prior quarter

  • Northrop Grumman (NOC) awarded position on $750 mln Army contract

  • Parsons (PSN) selected to provide project management support in building reimagined industrial city OXAGON

  • Pfizer (PFE) coronavirus vaccine for kids under 5 could be approved by end of this month, according to the Washington Post

  • PulteGroup (PHM) announces that its Board of Directors has approved a $1.0 bln increase to the Company's share purchase authorization

  • Satellogic (SATL) announces partnership with Palantir Technologies (PLTR)

  • Sempra Energy (SRE) subsidiary and Mexico's Federal Electricity Commission sign MOU for development of natural gas supply projects

  • Summit Hotel (INN) announces retirement of COO Craig J. Aniszewski, effective March 1

  • Televisa (TV) and Univision aiming to introduce streaming service, according to Reuters

  • Wish (WISH) appoints Vijay Talwar as CEO, effective February 1

  • Woodward (WWD) authorizes two-year stock repurchase program for up to $800 mln; also increases quarterly dividend by 17% to $0.19/share

  • Yext (YEXT) announces new integration with Freshdesk to equip businesses with its AI search experiences across customer support channels


  • M&A:

  • Angel Pond Holdings Corp. (POND) announces intention to combine with MariaDB

  • AT&T (T) to spin off interest in WarnerMedia to its shareholders at closing of previously announced transaction with Discovery (DISCA)

  • Civitas Resources (CIVI) to acquire Denver-Julesburg Basin operator Bison Oil & Gas II, LLC for approximately $346 million in cash and stock; also announces Eric Greager has stepped down as CEO

  • Gambling.comGroup Ltd. (GAMB) acquires NDC Media for $13.92 mln in cash and stock; to be immediately accretive to FY22 earnings

  • Microsoft (MSFT): FTC aiming to review Microsoft deal to purchase Activision (ATVI), according to Bloomberg

  • New York Times (NYT) acquires word game Wordle for "low seven figures", according to NY Times

  • Silvergate Capital (SI) acquires blockchain payment net assets from Diem for $182 mln in cash and stock

  • Sony Interactive (SONY) acquires Bungie

  • Waters (WAT) acquired the technology assets and intellectual property rights of Megadalton Solutions; Financial details of the transaction are not being disclosed


  • Syndicate:

  • Annaly Capital Mgmt (NLY) files mixed securities shelf offering

  • Veritone (VERI) files for 2,760,188 share common stock offering by selling shareholders

  • Xometry (XMTR) announces proposed private placement of $250 mln aggregate principal amount of Convertible Senior Notes due 2027


  • IPOs:

  • Expected to Price:

  • No IPOs expected to price.



Gapping Up/Down

  • Gapping up:

  • AWH +27.3%, SPIR +13.3%, SI +10.3%, ST +7.5%, XOS +7.4%, UBS +6.9%, ARCB +6.8%, UPS +5.6%, AU+4.8%, SANM +4.7%, CBT +4.1%, KRC +3.7%, IBRX+3.4%, SSRM +2.4%, CSWC +2.3%, WISH +2.3%, LI+2.1%, KOD +2.1%, GGG +2.1%, ENTG +1.9%, SONY+1.6%, SRE +1.2%, NYT +1.1%, NLY +0.6%, XPEV+0.5%


  • Gapping down:

  • HLIT -7.3%, XMTR -6.6%, WWD -5.5%, KMPR -5.4%, INN -4.4%, CRUS -3.8%, AXTA -3.7%, PCH -3.1%, CACC -2.7%, NIO -2.1%, CYRX -1.9%, AUDC -1.6%, VERI -1.4%, NMR -1.4%, WOLF -1.3%, MDC -1.3%, ARE -0.9%


Analyst Research (see Upgrades/Downgradescalendarfor full list):

  • Upgrades

  • BioNTech (BNTX) upgraded to Neutral from Sell at Redburn

  • Flywire (FLYW) upgraded to Strong Buy from Outperform at Raymond James; tgt lowered to $39

  • Harley-Davidson (HOG) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt raised to $40

  • Helix Energy (HLX) upgraded to Overweight from Neutral at Piper Sandler; tgt raised to $5.60

  • Moderna (MRNA) upgraded to Neutral from Sell at Redburn

  • Oceaneering Intl (OII) upgraded to Overweight from Neutral at Piper Sandler; tgt raised to $21

  • Wells Fargo (WFC) upgraded to Overweight from Neutral at Atlantic Equities; tgt $60

  • Workday (WDAY) upgraded to Outperform from Market Perform at BMO Capital Markets; tgt lowered to $295


  • Downgrades:

  • Cheniere Energy Partners (CQP) downgraded to Neutral from Buy at UBS; tgt $50


  • Others:

  • Amylyx Pharmaceuticals (AMLX) initiated with a Buy at Goldman; tgt $36

  • Anaplan (PLAN) initiated with a Market Perform at BMO Capital Markets; tgt $49

  • Avalara (AVLR) initiated with an Outperform at BMO Capital Markets; tgt $130

  • Bill.com(BILL) initiated with an Outperform at BMO Capital Markets; tgt $209

  • BlackLine (BL) initiated with a Market Perform at BMO Capital Markets; tgt $92

  • Ceridian HCM (CDAY) assumed with an Outperform at BMO Capital Markets; tgt $91

  • CinCor Pharma (CINC) initiated with a Buy at Jefferies; tgt $30

  • CinCor Pharma (CINC) initiated with an Overweight at Morgan Stanley; tgt $27

  • Coupa Software (COUP) initiated with a Market Perform at BMO Capital Markets; tgt $135

  • Criteo (CRTO) resumed with a Buy at Stifel; tgt $50

  • DoubleVerify (DV) initiated with a Buy at Stifel; tgt $29

  • Integral Ad Science (IAS) initiated with a Buy at Stifel; tgt $25

  • Intuit (INTU) initiated with an Outperform at BMO Capital Markets; tgt $625

  • Luminar Technologies (LAZR) initiated with a Neutral at Goldman; tgt $14

  • Meta Platforms (FB) resumed with a Buy at Stifel; tgt $400

  • Paycom Software (PAYC) initiated with a Market Perform at BMO Capital Markets; tgt $26

  • Paycor (PYCR) initiated with a Market Perform at BMO Capital Markets; tgt $26

  • Paylocity (PCTY) initiated with an Outperform at BMO Capital Markets; tgt $230

  • Performance Food Group (PFGC) initiated with a Buy at Truist; tgt $61

  • Perion Network (PERI) resumed with a Buy at Stifel; tgt $25

  • Pinterest (PINS) resumed with a Hold at Stifel; tgt $34

  • ProQR Therapeutics (PRQR) initiated with a Strong Buy at Raymond James; tgt $19

  • Snap (SNAP) resumed with a Buy at Stifel; tgt $45

  • SomaLogic (SLGC) initiated with a Buy at Stifel; tgt $12

  • Sysco (SYY) initiated with a Buy at Truist; tgt $89

  • The Trade Desk (TTD) resumed with a Hold at Stifel; tgt $68

  • Tremor (TRMR) resumed with a Buy at Stifel; tgt $20

  • Tritium DCFC (DCFC) initiated with an Outperform at Raymond James; tgt $10

  • Twitter (TWTR) resumed with a Hold at Stifel; tgt $39

  • US Foods (USFD) initiated with a Buy at Truist; tgt $43

  • Ventyx Biosciences (VTYX) initiated with an Outperform at Oppenheimer; tgt $30

  • Vertex (VERX) initiated with a Market Perform at BMO Capital Markets; tgt $15

  • Viracta Therapeutics (VIRX) initiated with an Outperform at RBC Capital Mkts; tgt $10

  • Volta (VLTA) initiated with a Buy at Canaccord Genuity; tgt $10

  • Workiva (WK) initiated with an Outperform at BMO Capital Markets; tgt $135


ZUpcoming Events:

  • Econ Data:

  • 09:45 ET: IHS Markit Manufacturing PMI - Final for Jan (Briefing.comConsensus NA; Prior 57.7)

  • 10:00 ET: ISM Manufacturing Index for Jan (Briefing.comConsensus 57.5%; Prior 58.7%)

  • 10:00 ET: Construction Spending for Dec (Briefing.comConsensus 0.6%; Prior 0.4%)

  • 10:00 ET: JOLTS - Job Openings for Dec (Briefing.comConsensus NA; Prior 10.562M)


  • Earnings:

  • Monday (Jan 31)

  • Morning: AKTS ATKR OTIS TT

  • Afternoon: AGNC ARE AXTA CBT CRUS CACC FN GGG HLIT HTLF HP JJSF KMPR KRC NXPI PCH SANM WWD


  • Tuesday (Feb 1)

  • Morning: ALGM ARCB TECH BR CTLT ENTG EPD AQUA XOM BEN GFF HLNE IMO LII MAN MDC NVR PNR PBI PINC PHM SMG ST SIRI SWK UBS UPS WAT

  • Afternoon: AMD GOOG AMCR DOX APAM ASH CB EA EHC EQR GM GILD HMN IEX LFUS MANH MTCH MRCY MSTR OI PYPL PKI SBUX SMCI TENB UNM


  • Wednesday (Feb 2)

  • Morning: ABBV ATI ABC AVY BSX EAT BIP CHRW CPRI CRS GIB DHI DT EMR EVR RACE HWM HUM IDXX JCI MMP MPC MPLX NYT NVS ODFL ROP SAIA SBH SLAB SR SPR TMO VNE WNC WM

  • Afternoon: EGHT ADTN AFL ALGN ALGT ALL AVB BDN CCS CHNG CCMP CTSH CLB CTVA DXC ELF ESS FORM FBHS GL THG HI HOLX KLIC LNC MXL MCK FB MET MTG MAA MUSA NTGR OHI OMF QRVO QCOM RYN RRR RRX SITM SKY SPOT TMUS TTEK TBI UGI YELL


  • Thursday (Feb 3)

  • Morning: ABB ABMD WMS AME APTV ARW AZEK BCE BDX BERY BIIB BV CAH CSII CG CHKP CI CMS COP CMI DLX LLY EL FTV GWW HAIN HBI HSY HON HUBB ITW INGR ICE JHG LANC LAZ LITE MMS MPW MRK MTOR MSGS NJR NOK NS PH PENN PBH DGX RL SNDR RDS.A SNA TKR TW VSAT VSTO WD WEC WRK XYL

  • Afternoon: ATVI AMZN AINV AVTR BECN BHE BILL BYD CPT CDK CLX COLM CUZ DECK DLB ENVA EXPO F FTNT GPRO HIG LCI LESL LGF.A LPLA MCHP MIME MTX MWA NFG NWSA NLOK NOV OTEX PYCR PCTY PFSI PINS POST POWI PRU RGA SIGI SKX SKYW SWKS SNAP SYNA U VIAV WERN WWE


  • Friday (Feb 4)

  • Morning: ADNT APD AON BMY BEP CBOE ROAD ETN REGN SNY SPB TWST




Asia & Europe detail:

Asia: Nikkei +0.3%, Hang Seng CLOSED, Shanghai Composite CLOSED

Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note while markets in China, South Korea, Singapore, and Hong Kong were closed. Japan's Manufacturing PMI expanded for the 12th consecutive month in the January reading. Tokyo is reportedly seeking another coronavirus emergency declaration from the Japanese government. The Reserve Bank of Australia left its cash rate at 0.10% and announced the end of its asset purchase program, as expected.

  • In economic data:

  • Japan's January Manufacturing PMI 55.4 (expected 54.6; last 54.3). December Unemployment Rate 2.7% (expected 2.8%; last 2.8%)

  • South Korea's January trade deficit $4.89 bln (last deficit of $450 mln). January Imports 35.5% yr/yr (expected 32.8%; last 37.1%) and Exports 15.2% yr/yr (expected 15.5%; last 18.3%)

  • India's January Nikkei Markit Manufacturing PMI 54.0 (expected 54.6; last 55.5)

  • Australia's December AIG Manufacturing Index 48.4 (last 54.8), December Retail Sales -4.4% m/m (expected 3.9%; last 7.3%), and December Home Loans 5.3% m/m (last 7.6%)

  • New Zealand's December trade deficit NZD477 mln (expected deficit of NZD700 mln; last deficit of NZD1.06 bln)


---Equity Markets---

  • Japan's Nikkei: +0.3%

  • Hong Kong's Hang Seng: CLOSED

  • China's Shanghai Composite: CLOSED

  • India's Sensex: +1.5%

  • South Korea's Kospi: CLOSED

  • Australia's ASX All Ordinaries: +0.6%

---FX---

  • USD/JPY: -0.4% to 114.62

  • USD/CNH: UNCH at 6.3692

  • USD/INR: +0.4% to 74.86

Europe: DAX +1.1%, FTSE +0.9%, CAC +1.1%

Major European indices trade on a firmly higher note. January Manufacturing PMI readings from major European economies remained in expansion, though some missed expectations. The European Central Bank's lending survey for Q1 observed a slight tightening in credit standards for corporations. Belgium will lower the tax rate on electricity and issue one-time rebates to consumers. Swiss National President Jordan said that there was no sign of a wage-price cycle in Switzerland and that the inflation rate is near its peak. Finland joined England, Ireland, and Denmark in lifting all coronavirus restrictions.

  • In economic data:

  • Eurozone's December Unemployment Rate 7.0% (expected 7.1%; last 7.1%) and January Manufacturing PMI 58.7 (expected 59.0; last 58.0)

  • Germany's December Retail Sales -5.5% m/m (expected -1.4%; last 0.8%); 0.0% yr/yr (expected 1.1%; last 0.5%). January Manufacturing PMI 59.8 (expected 60.5; last 57.4). January Unemployment Rate 5.1% (expected 5.2%; last 5.2%)

  • U.K.'s December Mortgage Lending GBP3.57 bln (expected GBP3.52 bln; last GBP3.78 bln) and December BoE Consumer Credit GBP831 mln (expected GBP800 mln; last GBP999 bln). January Manufacturing PMI 57.3 (expected 56.9; last 57.9) and January Nationwide HPI 0.8% m/m (expected 0.6%; last 1.0%); 11.2% yr/yr (expected 10.8%; last 10.4%)

  • France's January CPI 0.3% m/m (expected -0.2%; last 0.2%); 2.9% yr/yr (expected 2.4%; last 2.8%). January Manufacturing PMI 55.5, as expected (last 55.6)

  • Italy's December Unemployment Rate 9.0% (expected 9.2%; last 9.1%) and January Manufacturing PMI 58.3 (expected 61.0; last 62.0)

  • Swiss December Retail Sales -0.4% yr/yr (expected 5.5%; last 5.3%), January procure.chPMI 63.8 (expected 64.0; last 62.7), and Q1 SECO Consumer Climate 3 (last 8)


---Equity Markets---

  • STOXX Europe 600: +1.2%

  • Germany's DAX: +1.1%

  • U.K.'s FTSE 100: +0.9%

  • France's CAC 40: +1.1%

  • Italy's FTSE MIB: +1.2%

  • Spain's IBEX 35: +1.3%

---FX---

  • EUR/USD: +0.3% to 1.1271

  • GBP/USD: +0.4% to 1.3500

  • USD/CHF: -0.6% to 0.9211




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