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16/02/22 Briefing

The S&P 500 futures trade four points, or 0.1%, below fair value in front of a big batch of economic data. The market is trying to preserve yesterday's de-escalation rally, even though reports indicate that there's little evidence to suggest Russia has partially withdrawn troops.

The market is being optimistic on that issue along with the pandemic issue after Moderna's (MRNA 148.72, -2.40, -1.6%) CEO said it's "reasonable" to assume that the U.S. is in the final stages of the pandemic, according to CNBC.

As for today's data, investors will receive Retail Sales for January (Briefing.comconsensus 1.9%) and Export/Import Prices for January at 8:30 a.m. ET, followed by Industrial Production (Briefing.comconsensus 0.4%) and Capacity Utilization (Briefing.comconsensus 76.8) for January at 9:15 a.m. ET.

After the open, the NAHB Housing Market Index for February (Briefing.comconsensus 83) and Business Inventories for December (Briefing.comconsensus 2.1%) will be available at 10:00 a.m. ET, followed by the FOMC Minutes from the January meeting at 2:00 p.m. ET.

The minutes might be dated given the quantity of Fedspeak since the last meeting. On a related note, most economists polled by Reuters expect the Fed to hike rates by 25 basis points in March instead of 50 basis points like the fed funds futures market currently expects.

U.S. Treasuries trade little changed. The 2-yr yield is up one basis point to 1.58%, and the 10-yr yield is down one basis point to 2.04%. The U.S. Dollar Index is down 0.1% to 95.85. WTI crude futures remain elevated above $94 per barrel ($94.62, +1.34, +1.5%).

In U.S. Corporate news:

  • Airbnb (ABNB 186.23, +6.16): +3.4% after beating top and bottom-line estimates, guiding Q1 revenue above consensus, and saying it expects to achieve the company's first positive Q1 Adjusted EBITDA.

  • Roblox (RBLX 62.03, -11.27): -15.4% after providing underwhelming Q4 earnings results.

  • Upstart (UPST 134.99, +25.88): +23.7% after beating top and bottom-line estimates, guiding revenue for Q1 and FY22 above consensus, and announcing a share repurchase program for up to $400 million.

  • ViacomCBS (VIAC 32.00, -3.99): -11.1% after missing EPS estimates on above-consensus revenue. In addition, the company is rebranding to Paramount Global.

  • Moderna (MRNA 148.72, -2.40): -1.6% after the company's CEO said it's "reasonable" to assume that the U.S. is in the final stages of the pandemic, according to CNBC.

Reviewing overnight developments:

  • Equity indices in the Asia-Pacific region ended the midweek session on a mostly higher note. Japan's Nikkei: +2.2% Hong Kong's Hang Seng: +1.5% China's Shanghai Composite: +0.6% India's Sensex: -0.3% South Korea's Kospi: +2.0% Australia's ASX All Ordinaries: +1.1%.

  • In economic data:

  • China's January CPI 0.4% m/m (expected 0.5%; last -0.3%); 0.9% yr/yr (expected 1.0%; last 1.5%). January PPI 9.1% yr/yr (expected 9.5%; last 10.3%)

  • Japan's February Reuters Tankan Index 6 (last 17). December Tertiary Industry Activity Index 0.4% m/m (last 0.4%)

  • South Korea's January Unemployment Rate 3.6% (last 3.8%)

  • Australia's January MI Leading Index 0.1% m/m (last 0.0%)


  • In news:

  • South Korea added more than a million jobs in January, representing the largest single-month increase in about 22 years.

  • Speculation about more easing from the People's Bank of China continued after the release of cooler than expected inflation figures for January. However, China Securities Journal speculated that loan prime rates will be kept steady in February.



  • Major European indices trade near their flat lines. STOXX Europe 600: UNCH Germany's DAX: UNCH U.K.'s FTSE 100: -0.3% France's CAC 40: +0.1% Italy's FTSE MIB: -0.3% Spain's IBEX 35: -0.1%.

  • In economic data:

  • Eurozone's December Industrial Production 1.2% m/m (expected 0.3%; last 2.4%); 1.6% yr/yr (expected -0.5%; last -1.4%)

  • U.K.'s January CPI -0.1% m/m (expected -0.2%; last 0.5%); 5.5% yr/yr (expected 5.4%; last 5.4%). January Core CPI -0.4% m/m, as expected (last 0.5%); 4.4% yr/yr (expected 4.3%; last 4.2%). January Input PPI 0.9% m/m, as expected (last 0.1%) and Output PPI 1.2% m/m (expected 0.6%; last 0.3%)


  • In news:

  • German Chancellor Scholz said that admitting Ukraine into NATO is not on the agenda, and reports indicated that the promise, which should be welcomed by Russia, will be put into writing.

  • U.K.'s CPI increased at its fastest yr/yr rate in 30 years, inviting speculation about more rate hikes from the Bank of England.

  • Bank of France Governor Villeroy de Galhau said that the ECB's asset purchases could end in Q3.



U.S. equity futures:

  • S&P 500 Futures: -10 @ 4,462

  • DJIA Futures: -79 @ 34,910

  • Nasdaq 100 Futures: -31 @ 14,590

Overseas:

  • Europe: DAX UNCH, FTSE -0.3%, CAC +0.1%

  • Asia: Nikkei +2.2%, Hang Seng +1.5%, Shanghai Composite +0.6%

Commodities:

  • Crude Oil +1.32 @ 93.39

  • Nat Gas +0.305 @ 4.611

  • Gold -1.15 @ 1855.05

  • Silver +0.100 @ 23.442

  • Copper +0.0175 @ 4.5490

U.S. Summary:

  • Earnings/Guidance (Full Earnings Calendar):

  • ACCO Brands (ACCO) beats by $0.05, beats on revs; guides Q1 EPS below estimate, revs below two analyst estimate; guides FY22 EPS in-line, revs in-line; CFO plans to retire this year

  • Adaptive Biotechnologies (ADPT) beats by $0.02, beats on revs

  • Airbnb (ABNB) beats by $0.04, beats on revs; guides Q1 revs above consensus; sees positive adjusted EBITDA in Q1 with continued strength in ADR

  • Akamai Tech (AKAM) beats by $0.07, reports revs in-line; acquires IaaS platform provider Linode Limited Lability Company

  • Alkermes (ALKS) beats by $0.65, beats on revs; guides FY22 EPS below consensus, revs below consensus

  • llete (ALE) beats by $0.12, beats on revs, sees FY22 EPS below consensus

  • Alteryx (AYX) beats by $0.11, beats on revs; guides Q1 EPS below consensus, revs above consensus; guides FY22 EPS below consensus, revs above consensus

  • Altra Industrial Motion (AIMC) misses by $0.08, beats on revs; guides FY22 EPS below consensus, revs in-line

  • AMC Networks (AMCX) beats by $0.33, beats on revs

  • Analog Devices (ADI) beats by $0.15, beats on revs; guides Q2 EPS above consensus, revs above consensus

  • Andersons (ANDE) beats by $0.47, beats on revs

  • Angi Inc. (ANGI) beats by $0.02, reports slight beat on revs

  • AssetMark (AMK) misses by $0.01, beats on revs

  • AtriCure (ATRC) beats by $0.01, reports revs in-line; guides FY22 EPS below consensus, revs in-line

  • Barrick (GOLD) beats by $0.05, beats on revs; increases quarterly dividend by 11%

  • Blucora (BCOR) beats by $0.16, beats on revs; guides Q1 EPS in-line, revs in-line

  • Blueprint Medicines (BPMC) misses by $4.25, beats on revs; guides FY22 revs below consensus

  • Cedar Fair (FUN) reports Q4 (Dec) results, beats on revs

  • CF Industries (CF) misses by $0.11, beats on revs

  • Cincinnati Fincl (CINF) beats by $0.61, beats on revs

  • Charles River (CRL) beats by $0.06, beats on revs; guides FY22 EPS in-line, revs above consensus

  • Clearwater Paper (CLW) beats by $0.03, beats on revs

  • Coca-Cola European Partners (CCEP) reports preliminary Q4 results; revs jumped 50.5% yr/yr; increases annual dividend 64.5% to 1.40/share

  • Comstock (CRK) misses by $0.24, beats on revs

  • Corcept Therapeutics (CORT) beats by $0.04, reports revs in-line; guides FY22 revs in-line

  • CRISPR Therapeutics (CRSP) misses by $0.06, beats on revs

  • Crocs (CROX) beats by $0.25, beats on revs; guides Q1 revs below consensus; guides FY22 EPS in-line; suspends share repurchase program to focus on paying down debt

  • Denny's (DENN) misses by $0.01, misses on revs, comps of +49.0%; guides to comps of +26-28% in FY22; increased share repurchase program by $10.7 mln

  • Devon Energy (DVN) beats by $0.15

  • Driven Brands (DRVN) beats by $0.02, beats on revs; guides FY22 EPS above consensus, revs above consensus

  • Dun & Bradstreet (DNB) beats by $0.03, beats on revs; guides FY22 EPS above at the midpoint, revs above consensus

  • Earthstone Energy (ESTE) provides update on operations; offers 2022 production and budget outlook

  • Encore Wire (WIRE) beats by $3.74, beats on revs

  • Endava (DAVA) beats by 0.02, beats on revs; guides MarQ EPS above consensus, revs above consensus; guides FY22 EPS above consensus, revs above consensus

  • EngageSmart (ESMT) reports Q4 (Dec) results, beats on revs; guides Q1 revs in-line; guides FY22 revs above consensus

  • Garmin (GRMN) beats by $0.12, reports revs in-line; guides FY22 EPS below consensus, revs above consensus

  • Generac (GNRC) beats by $0.10, beats on revs; guides FY22 revs above consensus

  • GXO Logistics (GXO) beats by $0.20, beats on revs; guides FY22 revs above consensus

  • Hilton (HLT) misses by $0.02, beats on revs

  • Innospec (IOSP) beats by $0.23, beats on revs; announces new share repurchase program for up to $50 mln

  • InterActiveCorp (IAC) reports Q4 (Dec) results, revs in-line

  • Invitation Homes (INVH) reports FFO in-line, revs in-line; guides FY22 FFO in-line

  • ironSource (IS) beats by $0.01, beats on revs; guides Q1 revs above consensus; guides FY22 revs above consensus

  • Kraft Heinz (KHC) beats by $0.16, beats on revs; expects FY22 organic net sales to grow low-single-digit percentage

  • Lattice Semi (LSCC) beats by $0.04, beats on revs; guides Q1 revs above consensus

  • La-Z-Boy (LZB) misses by $0.24, beats on revs; sees Q4 revs below consensus

  • Masimo (MASI) beats by $0.11, beats on revs; reaffirms FY22 EPS guidance, revs guidance; acquires Sound United for $1.025 bln

  • MRC Global (MRC) beats by $0.22, reports revs in-line; guides FY22 revs in-line

  • Navitas Semiconductor (NVTS) beats by $0.01, misses on revs; guides Q1 revs below consensus; guides FY22 revs below consensus

  • NMI Hldgs (NMIH) beats by $0.02, reports revs in-line; Board authorizes $125 mln share repurchase program

  • Nu Skin (NUS) beats by $0.16, beats on revs; guides Q1 EPS, revs below consensus; guides FY22 EPS in-line, revs above consensus; raises dividend

  • Owens Corning (OC) beats by $0.29, beats on revs

  • Pacific Biosciences (PACB) misses by $0.02, reports revs in-line

  • PDF Solutions (PDFS) beats by $0.04, beats on revs

  • Q2 Holdings (QTWO) beats by $0.05, reports revs in-line; guides Q1 revs below consensus; guides FY22 revs in-line

  • Resideo (REZI) misses by $0.08, misses on revs; guides Q1 revs in-line; guides FY22 revs in-line

  • Roblox (RBLX) reports Q4 (Dec) results, bookings grew 19.9% yr/yr; DAUs increased 33% yr/yr

  • Ship Finance Intl (SFL) beats by $0.34, misses on revs

  • Shopify (SHOP) beats by $0.05, beats on revs

  • SiteOne Landscape Supply (SITE) beats by $0.31, beats on revs

  • SolarEdge Technologies (SEDG) misses by $0.22, reports revs in-line; guides Q1 revs above consensus

  • Sonic Automotive (SAH) beats by $0.81, beats on revs; completes RFJ Auto acquisition, increases dividend

  • SPX FLOW (FLOW) misses by $0.17, misses on revs

  • Sunoco LP (SUN) beats by $0.11, beats on revs

  • Ternium S.A. (TX) beats by $0.08, misses on revs; proposes that an annual dividend of $2.60 per ADS

  • The Trade Desk (TTD) beats by $0.14, beats on revs; guides Q1 revs and EBITDA above consensus

  • Toast (TOST) reports Q4 (Dec) results, beats on revs; guides Q1 and FY22 revs above consensus

  • Upstart (UPST) beats by $0.38, beats on revs; guides Q1 revs above consensus; guides FY22 revs above consensus; announces share repurchase program for up to $400 mln of common stock

  • Urban Edge Properties (UE) beats by $0.30, beats on revs; raises quarterly dividend 6.7% to $0.16/share

  • ViacomCBS (VIAC) misses by $0.19, beats on revs; to change its name to Paramount Global

  • Vulcan Materials (VMC) beats by $0.08, reports revs in-line

  • Wabtec (WAB) beats by $0.01, misses on revs; guides FY22 EPS in-line, revs in-line; authorizes $750 mln buyback, increases dividend

  • Welltower (WELL) beats by $0.02, beats on revs; guides Q1 FFO in-line

  • West Fraser (WFG) reports Q4 (Dec) results

  • Wingstop (WING) misses by $0.08, misses on revs, domestic same store sales increased 7.5%; reaffirms three-to-five year outlook of mid-single digit domestic same store sales growth

  • Wix.com(WIX) beats by $0.05, misses on revs; guides Q1 revs below consensus

  • Wyndham Hotels & Resorts (WH) beats by $0.15, beats on revs; guides FY22 EPS in-line; increases share repurchase program by $400 mln

  • Wynn Resorts (WYNN) misses by $0.12, beats on revs

  • ZoomInfo (ZI) beats by $0.05, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY22 EPS above consensus, revs above consensus


  • General News:

  • NATO officials say Russia is actually building up forces around Ukraine despite comments from Russia that suggested a drawdown of some troops, according to the Wall Street Journal

  • Ukraine President Voldymyr Zelenskiy does not see evidence of Russian troop withdrawal yet, according to BBC

  • Most economists expect Fed to hike rates by 25 basis points in March, according to Reuters

  • The Biden administration is preparing new tailpipe standards on heavy trucks, according to the New York Times

  • CDC lowers cruise ship COVID-19 THN from Level 4 (very high) to Level 3 (high)

  • Akamai Tech (AKAM) provides terms for acquisition of Linode; agrees to acquire all outstanding equity for approx. $900 mln

  • Albany International (AIN) subsidiary selected by Lockheed Martin's (LMT) Sikorsky to produce CH-53K Aft Transition

  • Altria (MO) announces Administrative Law Judge dismissal of FTC complaint against Altria's minority investment in Juul

  • Analog Devices (ADI) increases its quarterly dividend 10% to $0.76/share

  • AstraZeneca's (AZN) Saphnelo receives approval in the EU

  • Barrick (GOLD) Board of Directors has authorized a share repurchase program for the repurchase of up to $1.0 billion of the Company's outstanding common shares over the next 12 months

  • BioNTech (BNTX) introduces first modular mRNA manufacturing facility to promote scalable vaccine production in Africa

  • Bristol-Myers (BMY) announces that VALOR-HCM, the Phase 3 randomized, double-blind, placebo-controlled study evaluating mavacamten in adults with symptomatic obstructive hypertrophic cardiomyopathy who are eligible for septal reduction therapy, met its primary endpoint at Week 16

  • Boeing (BA): Some lawmakers want another review of Boeing 737 Max oversight, according to Reuters

  • Celularity (CELU) announces the U.S. Food and Drug Administration has granted Orphan Drug Designation for its investigational natural killer cell therapy, CYNK-101, for treatment of gastric/gastroesophageal junction cancer

  • CMC Materials (CCMP) Announces Favorable Conclusion in Patent Dispute with DuPont

  • Denison Mines (DNN) announces intersection of 24.9% eU3O8 over 4.2 metres extending beyond high-grade domain at Phoenix Zone A

  • Devon Energy (DVN) increases quarterly dividend to $1.00/share from $0.84/share; expands share repurchase program

  • DHI Group (DHX) has authorized a new stock repurchase program that permits the purchase of up to $15 mln of the Company's common stock

  • Embraer SA (ERJ): American Airlines signs firm order with Embraer for three new E175s

  • Extra Space Storage (EXR) increases quarterly dividend to $1.50/share from $1.25/share

  • Flora Growth (FLGC) has signed an agreement with Artos Ltd. to sell ~3,600 kg of dried high-THC cannabis flower to Israel from its Cosechemos cultivation facility

  • Gilead Sciences (GILD) amends and restates collaboration and license agreement with HOOKIPA Pharma

  • Global Blood Therapeutics (GBT) announces the European Commission has granted Marketing Authorization for Oxbryta

  • Helix Energy (HLX) awarded a field decommissioning contract by Trident Energy in Brazil

  • InflaRx (IFRX) announces the start of the second dosing cohort of the vilobelimab and PD-1 checkpoint inhibitor, pembrolizumab, combination arm of the Phase II clinical trial in cutaneous squamous cell carcinoma

  • Intapp (INTA) announces partnership with QorusDocs

  • Livent (LTHM) has begun a voluntary, third-party assessment of its brine-based lithium extraction and manufacturing operations at the Salar del Hombre Muerto, Catamarca, Argentina

  • Lockheed Martin's (LMT) Sikorsky Aircraft awarded $370 mln Defense Logistics Agency contract

  • Merck (MRK): EMA is unlikely to give Merck approval for COVID-19 treatment pill, according to Financial Times

  • Mirati Therapeutics (MRTX) announces that the U.S. Food and Drug Administration accepted the New Drug Application for adagrasib for the treatment of patients with non-small cell lung cancer harboring the KRASG12C mutation who have received at least one prior systemic therapy

  • Moderna (MRNA) to expand its commercial network across Asia with four new subsidiaries

  • Moderna (MRNA) CEO Stephane Bancel says it is "reasonable" to assume US in final stages of pandemic, according to CNBC

  • Morgan Stanley's (MS) Pawan Passi will face investigation into block trading, according to Bloomberg

  • SAGE Therapeutics (SAGE) and Biogen (BIIB) announce the CORAL Study in people with major depressive disorder met the trial objectives, demonstrating a rapid and statistically significant reduction in depressive symptoms at Day 3 and over the 2-week treatment period, achieving the primary and key secondary endpoints

  • Talos Energy (TALO) and EnLink Midstream (ENLC) execute memorandum of understanding for carbon capture, transportation, and sequestration solution

  • U.S. Steel (X) CFO Christine Breves to leave the company in 2022

  • Vulcan Materials (VMC) announces retirement of Suzanne Wood as CFO, effective September 1

  • Walt Disney (DIS) confirms that masks will be optional at parks starting tomorrow

  • Welltower (WELL) forms strategic partnership with Reuben Brothers

  • Western Union (WU) expands Travel Wallet App in South Korea


  • M&A:

  • Altair Engineering (ALTR) announces acquisition of Cassini; terms not disclosed

  • BrightView (BV) announces the acquisition of Winter Services Incorporated; financial terms were not disclosed

  • California Water (CWT): Washington Water Service signed an agreement to acquire the water utility assets of Driftwood Valley Association; financial terms were not disclosed

  • Crescent Energy Company (CRGY) has entered into a definitive purchase agreement with Verdun Oil Company II LLC to acquire Uinta Basin assets previously owned by EP Energy for $815 mln, subject to customary purchase price adjustments

  • SeaWorld Entertainment (SEAS) confirms that its offer to acquire Cedar Fair (FUN) was rejected; it does not see a path to a transaction

  • Webster Financial (WBS) agrees to acquire Bend Financial; terms not disclosed

  • Wynn Resorts (WYNN) agrees to sell land and real estate assets of Encore Boston Harbor to Realty Income (O) for $1.70 bln in cash


  • Syndicate:

  • Atomera (ATOM) files $100 mln mixed securities shelf offering


  • IPOs:

  • Expected to Price:

  • No IPOs expected to price.



Gapping Up/Down

  • Gapping up:

  • UPST +25.1%, AYX +8.9%, CRSR +8.7%, GXO +8.2%, ACCO +8.1%, MRC +6.9%, ANDE +6.1%, ENLC +4.4%, WIRE +4.3%, UE +4.1%, INVH +4%, LSCC +3.8%, ESMT +3.8%, ABNB +3.1%, GNRC +2.6%, DVN +2.5%, ALC +2.5%, CELU +2.3%, INTA +1.6%, OC +1.3%, GOLD +1.3%, DHX +1%, KNSL +1%, CINF +1%, MO+0.8%, REZI +0.8%, SITE +0.8%


  • Gapping down:

  • TOST -16.1%, RBLX -15.9%, LZB -13%, ZI -12.9%, WIX -11.8%, FUN -10.7%, PACB -10.5%, VIAC -9.1%, ANGI -7.8%, NVTS -7%, MRTX -6.9%, MASI -6%, AKAM -5.4%, DENN -5.3%, ATOM -4.8%, AIN -4.7%, PDFS -3.8%, TX -3%, MRNA -2.5%, SEDG -1.9%, ONB -1.7%, WYNN -1.7%, ATRC -1.7%, CORT -1.7%, CF -1.4%, QTWO -1%


Analyst Research (see Upgrades/Downgradescalendarfor full list):

  • Upgrades

  • Ceva (CEVA) upgraded to Buy from Neutral at Rosenblatt; tgt raised to $60

  • Ecolab (ECL) upgraded to Neutral from Underweight at JP Morgan; tgt lowered to $191

  • IPG Photonics (IPGP) upgraded to Buy from Hold at Stifel; tgt $170

  • Macy's (M) upgraded to Outperform from In-line at Evercore ISI

  • Pinduoduo (PDD) upgraded to Buy from Neutral at Citigroup; tgt $80

  • Volaris Aviation (VLRS) upgraded to Outperform from Neutral at Credit Suisse; tgt raised to $26


  • Downgrades:

  • CarMax (KMX) downgraded to In-line from Outperform at Evercore ISI; tgt $120

  • Celanese (CE) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $180

  • Clearwater Paper (CLW) downgraded to Sector Perform from Outperform at RBC Capital Mkts; tgt lowered to $35

  • Green Plains Partners (GPP) downgraded to Hold from Buy at Stifel; tgt lowered to $15

  • Masimo (MASI) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $200

  • Nordstrom (JWN) downgraded to In-line from Outperform at Evercore ISI

  • Wix.com(WIX) downgraded to Neutral from Buy at Guggenheim


  • Others:

  • Arco Platform (ARCE) initiated with a Neutral at JP Morgan; tgt $22

  • Boeing (BA) assumed with a Peer Perform at Wolfe Research

  • Fluence (FLNC) initiated with a Buy at HSBC Securities; tgt $26

  • Hexcel (HXL) assumed with an Underperform at Wolfe Research; tgt raised to $50

  • Intra-Cellular Therapies (ITCI) initiated with a Buy at Goldman; tgt $64

  • Nu Holdings (NU) initiated with an Underperform at Bradesco BBI; tgt $5

  • Transdigm Group (TDG) assumed with an Outperform at Wolfe Research; tgt $760

  • Vasta Platform (VSTA) initiated with a Neutral at JP Morgan; tgt $6

  • Wheels Up Experience (UP) assumed with a Peer Perform at Wolfe Research


Upcoming Events:

  • Econ Data:

  • 07:00 ET: MBA Mortgage Applications Index for Feb. 12 (Briefing.comConsensus NA; Prior -8.1%)

  • 08:30 ET: Retail Sales for Jan. (Briefing.comConsensus 1.9%; Prior -1.9%)

  • 08:30 ET: Retail Sales ex-auto for Jan. (Briefing.comConsensus 1.0%; Prior -2.3%)

  • 08:30 ET: Export Price Index for Jan. (Briefing.comConsensus NA; Prior -1.8%)

  • 08:30 ET: Export Prices ex-ag for Jan. (Briefing.comConsensus NA; Prior -2.1%)

  • 08:30 ET: Import Price Index for Jan. (Briefing.comConsensus NA; Prior -0.2%)

  • 08:30 ET: Import Prices ex-oil for Jan. (Briefing.comConsensus NA; Prior 0.5%)

  • 09:15 ET: Industrial Production for Jan. (Briefing.comConsensus 0.4%; Prior -0.1%)

  • 09:15 ET: Capacity Utilization for Jan. (Briefing.comConsensus 76.8%; Prior 76.5%)

  • 10:00 ET: NAHB Housing Market Index for Feb. (Briefing.comConsensus 83; Prior 83)

  • 10:00 ET: Business Inventories for Dec. (Briefing.comConsensus 2.1%; Prior 1.3%)

  • 10:30 ET: EIA Crude Oil Inventories for Feb. 12 (Briefing.comConsensus NA; Prior -4.76M)

  • 14:00 ET: FOMC Minutes for Jan.


  • Earnings:

  • Monday (Feb 14)

  • Morning: KELYA STNG THS

  • Afternoon: AAP AMKR ANET CAR NTB CLR MEDP OMCL OTTR PRI SCI SRC TNET VNO ZD


  • Tuesday (Feb 15)

  • Morning: ALLE ARCH ABG BKI BWA CEVA ECL FIS FELE HSIC HUN IPGP IQV KRNT LDOS LGIH MAR QSR SABR TRP TRTN WCC ZTS

  • Afternoon: ACCO ADPT ABNB AKAM AYX ANGI AMK ATRC CF CINF CRK DENN DVN WIRE ESMT GXO IOSP IAC INVH LZB LSCC MASI MRC NMIH PACB QTWO REZI RBLX SEDG TX TOST UPST VIAC WELL WH WYNN ZI


  • Wednesday (Feb 16)

  • Morning: ALKS ALE AIMC AMCX ADI GOLD BCOR BPMC FUN CRL CHH CROX DRVN DNB DAVA GRMN GNRC HLT IS KHC NUS OC R SHOP SITE SAH SUN TTD VMC WAB WING WIX

  • Afternoon: TXG ALB ALSN ATUS AIG AWK AMPL AM AR AMAT APP ATCO SAM BFAM BCOV CAKE CSCO CDE CYH COMP CNDT CPRT CONE DASH EIG ET EQIX EVER ES FARO FSLY FSR FCPT GLBE LOPE HST HPP H INFN KGC KNBE MGY MRO MTTR NTR NVDA OIS OCDX PLMR PEGA PXD QS ROIC RGLD RPT STAG SNPS TRIP TROX TRUP TYL UFPI VMI VECO WCN


  • Thursday (Feb 17)

  • Morning: AAWW AN BAX BRC CBZ CIM COMM EPAM FVRR FOCS GEL THRM GPC GEO GPK HIMX IDA INSM ITGR IDCC IRDM IRWD LKQ MTRN MD NICE DNOW OGN PLTR PGTI POOL POR RCM RS RGEN SAFM SEE SWI SO SYNH TSEM TPH TRN USFD VC VNT WMT WST YETI

  • Afternoon: AL LNT AEE AEL AMN APPN ATR BJRI CMBM CWST CHUY CGNX ED DRH DLR DOMA DBX EXEL GLOB GMED KEYS KNSL LGND LTHM LTC MATX MERC LASR OEC PK QDEL RLGY RDFN RBA ROKU SHAK SWAV TSLX RUN SKT USM VTR WRE AUY


  • Friday (Feb 18)

  • Morning: ABR B BLMN DE PPL RRD




Asia & Europe detail:

Asia: Nikkei +2.2%, Hang Seng +1.5%, Shanghai Composite +0.6%

Equity indices in the Asia-Pacific region ended the midweek session on a mostly higher note. South Korea added more than a million jobs in January, representing the largest single-month increase in about 22 years. Speculation about more easing from the People's Bank of China continued after the release of cooler than expected inflation figures for January. However, China Securities Journal speculated that loan prime rates will be kept steady in February.

  • In economic data:

  • China's January CPI 0.4% m/m (expected 0.5%; last -0.3%); 0.9% yr/yr (expected 1.0%; last 1.5%). January PPI 9.1% yr/yr (expected 9.5%; last 10.3%)

  • Japan's February Reuters Tankan Index 6 (last 17). December Tertiary Industry Activity Index 0.4% m/m (last 0.4%)

  • South Korea's January Unemployment Rate 3.6% (last 3.8%)

  • Australia's January MI Leading Index 0.1% m/m (last 0.0%)


---Equity Markets---

  • Japan's Nikkei: +2.2%

  • Hong Kong's Hang Seng: +1.5%

  • China's Shanghai Composite: +0.6%

  • India's Sensex: -0.3%

  • South Korea's Kospi: +2.0%

  • Australia's ASX All Ordinaries: +1.1%

---FX---

  • USD/JPY: UNCH at 115.67

  • USD/CNH: +0.1% to 6.3389

  • USD/INR: -0.2% to 75.00

Europe: DAX UNCH, FTSE -0.3%, CAC +0.1%

Major European indices trade near their flat lines. German Chancellor Scholz said that admitting Ukraine into NATO is not on the agenda, and reports indicated that the promise, which should be welcomed by Russia, will be put into writing. U.K.'s CPI increased at its fastest yr/yr rate in 30 years, inviting speculation about more rate hikes from the Bank of England. Bank of France Governor Villeroy de Galhau said that the ECB's asset purchases could end in Q3.

  • In economic data:

  • Eurozone's December Industrial Production 1.2% m/m (expected 0.3%; last 2.4%); 1.6% yr/yr (expected -0.5%; last -1.4%)

  • U.K.'s January CPI -0.1% m/m (expected -0.2%; last 0.5%); 5.5% yr/yr (expected 5.4%; last 5.4%). January Core CPI -0.4% m/m, as expected (last 0.5%); 4.4% yr/yr (expected 4.3%; last 4.2%). January Input PPI 0.9% m/m, as expected (last 0.1%) and Output PPI 1.2% m/m (expected 0.6%; last 0.3%)


---Equity Markets---

  • STOXX Europe 600: UNCH

  • Germany's DAX: UNCH

  • U.K.'s FTSE 100: -0.3%

  • France's CAC 40: +0.1%

  • Italy's FTSE MIB: -0.3%

  • Spain's IBEX 35: -0.1%

---FX---

  • EUR/USD: +0.2% to 1.1378

  • GBP/USD: +0.2% to 1.3561

  • USD/CHF: +0.1% to 0.9254


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