Public Markets 8-Hour Briefing
×Market Moves
The S&P 500 futures rose 0.3% as traders anticipate Nvidia's earnings. Circle Internet shares surged after quarterly profit jumped on stablecoin demand. Nordex climbed 16% following an earnings beat and potential U.S. expansion plans.
Earnings & Guidance
TJX reported earnings that beat estimates but disappointed investors with its guidance. Lowe's posted higher fourth-quarter sales driven by pro builder growth. Lowe's issued an underwhelming sales forecast amid a "pressured" housing market. Bloomin' Brands narrowed its loss as Outback Steakhouse reported positive traffic for the first time in four years.
Tech & AI
AI disruption concerns remain "difficult to disprove" near term, Goldman analysts warn. Nvidia earnings loom as a critical risk factor for the AI-obsessed stock market. TSMC shares rose on optimism from AMD-Meta developments with Nvidia earnings in focus. Applied AI CEO said the UAE will play an outsized role in AI development.
European Markets
European stocks rose with HSBC surging after lifting its key target. Haleon slid most in nearly a year after sales growth missed expectations. Diageo shares fell 5% following a dividend cut and slashed outlook on U.S. spirits rout. HSBC boosted its bonus pool 10% to $3.93 billion, the highest in at least a decade.
Banking & Finance
Bank of Montreal logged stronger-than-expected earnings on fee growth. National Bank of Canada beat estimates after strong results across all business lines. Santander vowed to grow net income to over €20 billion by 2028 after the Webster deal. Singapore banks drew $61 billion in new wealth from Asia's rich amid geopolitical uncertainty.
Energy & Commodities
OPEC+ delegates expect the group to resume modest supply hikes at this weekend's meeting. Russia and Iran are slashing oil prices to China as supplies pile up at sea. Thailand's rice exports are set to drop to a five-year low as the baht rally dents competitiveness. Australia is shipping LNG 16,000 miles to Canada as Asian demand slumps.
Global Policy & Economy
The Bank of England doesn't need to "follow the Fed" as UK policy decisions have mixed domestic impacts. China warned it will respond if U.S. trade probes spur new tariffs. South Africa announced public debt will peak this year with better-than-expected revenue collection. Botswana sees inflation slowing to just over 5% this year due to stabilizing exchange rates.
Corporate Moves
GSK agreed to buy 35Pharma for $950 million to boost its pipeline of experimental therapies. Door Dash will wind down Deliveroo and Wolt operations in four countries. Bolttech is in talks to buy Nasdaq-listed Money Hero in a fintech merger. Arla Foods will make its biggest investment ever, spending €300 million to expand cheese production.
Market Sentiment
Skeptical investors are hunting for ways to short the AI frenzy as doubts grow about technology investments. Strong earnings haven't been enough to power stocks past AI and credit worries. Private equity was headed for a correction even without AI gloom, facing lower leverage and tougher exits. The AI doomers aren't done yet as market rotation continues amid deflation fears.