Netflix beats 📺 Stocks fall 📉 S&P500 < 50d MA 🚦 ECB & SNB 👀 China CSI300 ⚠️

FlowBank's hand-curated fresh financial news [header_noDither] 20.01.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Netflix] Netflix jumped 6% after it reported stronger-than-expected subscriber numbers for the fourth quarter. In addition, Netflix's co-founder Reed Hastings announced stepping aside as CEO of the company he’s led for more than two decades, leaving the position to his two longtime associates, Ted Sarandos (NFLX's public face) and Greg Peters (COO). [Start Trading](113/cXx8Z04/VWBQ153-x_GVW16h_JC5L4blgVrHz2f4W0lWnN1m0FqX2-MK5V1-WJV7CgNlRW2mxLLz25g6CDW93WKXW2K096gW3G8q4q7G8wvDW2zVwvF7Zv4ZkW2FCW_y5RjsxxW23G8b429DXvhW65z0QH2zDv-CW2CrNwp1zrMdqW65Vv1Q3Gtp3bW5PdlzF6xVKPSW7bHbPr6M79JBW9gs7pl1ZCPNNW45Hp5f7t9Nk8N5mfqxTQP_zCVXy3SL81wwCfVTHySJ81-ntZW8D8ZJM4SQ28ZW6SWD5F8Djbf1W7cnwWW2dY_yCW8BLC4p1sRQ3s36lf1) Trader's Corner In focus • Traders will keep an eye on stock indices, notably the S&P500, which closed below its 50-day moving average, a sign of deteriorating technicals. • Remarks from ECB's President Lagard and Swiss National Bank's Jordan could bring volatility in the currency market. EUR and CHF have been quite strong as officials continue to maintain a hawkish narrative. • Lastly, we will keep an eye on Chinese stocks. The China CSI300 is seeing strong momentum and is attempting to make a new year high as markets are betting on quick growth recovery in the region. Economic data • US existing home sales • German PPI • UK retail sales Earnings • State Street • Schlumberger Crypto • FTX’s token jumped over 35% after a report said the bankrupt crypto exchange may restart. • The National Australia Bank announced that it will soon launch a new stablecoin backed by the Australian dollar on Ethereum and Algorand. [Screenshot 2023-01-20 at 04.33.32] [Start Trading](113/cXx8Z04/VWBQ153-x_GVW16h_JC5L4blgVrHz2f4W0lWnN1m0FqX2-MK5V1-WJV7CgQsWVstYCD3N6H5DN8Sxjtdcg_y5W60p9zV1MZSRHW4QFR5044-zYfV85kTP8FVXDpVnYKCL8HkKvwW9g2gzf4X9CvtW2KCbpN2jwW5GW8j_W_77VgRDmW2Pb2yl3_YLWRW4sbzk94h8xyQW6JXd9T5pXB9HW83pwKH3NR-dbW37TkT_6MbVNBW4M6xkY89dFB_W8Vtcjt6Sh0FsVs8--F6dqBb-W3LX2rF373PntW4ssnVQ5jlC3fW3rmLfr4NLF8v3g5_1) Market Recap Stocks broadly dipped as markets digested the latest numbers of jobless claims, which came in stronger than expected, a negative sign for the inflation outlook. Defensive sectors such as communication, health care, and energy were the only exception, closing higher. Bonds came under pressure following JPMorgan CEO's remarks that US interest rates could top 5%. In commodities, oil prices continued climbing despite a rise in US crude oil inventories. And the yellow metal (gold) regained its high of $1,920/ounce. This morning, S&P500 futures are slightly up, digesting the stronger-than-expected Netflix earnings. And markets are looking ahead to the UK retail sales and US existing home sales. GBPUSD could be volatile. Chart Of the Day Stronger US jobs data are pressuring risk assets on fears that the Fed could keep rising rates higher to calm down the job market. [Screenshot 2023-01-19 at 15.09.05](113/cXx8Z04/VWBQ153-x_GVW16h_JC5L4blgVrHz2f4W0lWnN1m0FqD2-MJQV1-WJV7CgTxGW7ld0PL5-GK9YN8BsxLWGzqjlW85npqz7l0ykGW9h7qDh98ThM6W3FHlF27g8rVNW6d9R8V3ZWC4sW6g546L1FDftJW1dgy7P8f4QnBW3gz1274vYqltV2T_rl274hhcW5szvj06jzbY9W4QYh2v5knMLJV-0v7_917rYkW6gQxZG57xrBhW53PTjs805KbpN3wPg3VdVgkGVPkD8K66STFvVJ0Pp03M2Zr_38cf1) FlowBank Blog How does China’s reopening affect your portfolio? [Shanghai pexels](113/cXx8Z04/VWBQ153-x_GVW16h_JC5L4blgVrHz2f4W0lWnN1m0FqD2-MJQV1-WJV7CgGCZW6tmYxr4bG4xYW4QpSlV19LS8qW1YghqS7jtfd7W56t7dP5NYH0GW7GpDsM6F8CTkW389QPy1Gx69zW8g12RP7NknY-W1JTtln8nDCQKW5Lh6LT5NW2rMW8sm0x66kf6KZW7NvST69lkMZcW8mmJ3n21w0KJW3KtqBM71W10SW3G3TW_4dcDDhW6j1wPp7tcbSdW2jbqKh5kzPDRW2xXM3t3TlZfqW1wN9Gf8bpKQT369l1) China’s reopening may just be the catalyst that is needed to stimulate global growth. What are the investment implications, and could there be some negative repercussions? 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