Public Markets 8-Hour Briefing
×Market Movers
The S&P 500 remains range-bound as investors hedge against potential drops, with strategists seeing a buy signal despite volatility. Nvidia failed to rally after posting record revenue, leaving analysts perplexed as AI fears persist. Salesforce fell after earnings, reflecting broader software sector weakness that wiped out $1.6 trillion in market value.
Corporate Earnings
Shake Shack reported higher fourth-quarter profit as operational improvements maintained margins amid industry headwinds. Hormel Foods logged increased profit and revenue in its fiscal first quarter as turnaround efforts yield results. J.M. Smucker rose on an earnings beat despite weaker sales guidance, while Krispy Kreme saw revenue fall after exiting underperforming locations despite improved margins.
Financial Services
Toronto-Dominion Bank earnings jumped in the first three months of its fiscal year with revenue growth across operations. Royal Bank of Canada profit rose despite elevated credit-loss provisions, driven by wealth management and personal banking growth. Allianz CFO discussed profit outlook and a new share buyback program after the insurer reported record 2025 results.
Technology & AI
Ocado plans to cut 1,000 jobs and restructure its technology unit after clients scaled back online grocery plans. Baidu reported sharply lower profit with revenue declining for a third straight quarter as it struggles to transform in the AI era. ASICS COO discussed global growth strategies amid the AI boom, while the European Central Bank vowed to monitor AI-driven job cuts closely.
Energy & Utilities
Vistra reported weaker quarterly earnings and offered a 2026 outlook. Drax Group profit declined but exceeded analyst estimates despite significant impairment charges. Engie surged after a UK Power Networks deal and new financial targets, while Schneider Electric posted record revenue with the CFO stepping down.
Mergers & Acquisitions
Equinix and Canada Pension Plan Investment Board are nearing a $4 billion deal for data center firm at North. Dubai Aerospace agreed to buy Macquarie Air Finance for $7 billion, expanding its fleet to over 1,000 units. Syngenta Group renewed its bid for a Hong Kong IPO following a high-profile reversal.
Global Markets
Argentine stocks are missing out on Latin American equity surges as market euphoria over President Milei's election fades amid weak corporate earnings. Nigeria extended a shea-nut export ban by a year to boost domestic processing. South Africa's latest budget painted an encouraging picture of improving public finances, with markets responding positively.
Asia-Pacific
India's government panel is reviewing the future of a key GM food crop, potentially opening one of the world's largest agricultural markets. China's search giant Baidu continues struggling with AI transformation. Singapore's Grab bets on AI and new services to triple profit by 2028. Kenyan shilling has traded in an unusually narrow band against the dollar for 18 months, emerging as one of the world's most stable currencies.
Europe
LSEG CEO said a £3 billion buyback is the "right amount" as the company faces pressure from Elliott Investment Management. WPP plans £500 million in annual cost savings by 2028 as part of a sweeping restructuring to return to growth. Puma forecast another loss this year and scrapped its dividend as it clears unsold inventory.
Middle East & Africa
Abu Dhabi is set to issue two benchmark-sized dollar bonds in its first debt market foray of the year. South African Treasury is investing into the economy as the latest budget is seen as a turning point for public finances. NCBA plans to extend its reach for wealthy East Africans by piggybacking on new anchor shareholder Nedbank Group.
Commodities & Currencies
Oil supertankers became the hottest commodity with 600% gains as high shipping costs concern producers and refiners. LPG prices soared to their highest in almost a year following a Saudi Aramco export terminal outage. BlackRock says Japanese government bonds offer 6% yields with currency boost for dollar-based investors.