Meta beats 👍 stocks climb 📈 Nasdaq rallies 🎢 ECB & BOE 👀 Earnings: Apple, Amazon, Alphabet 🔮

FlowBank's hand-curated fresh financial news [header_noDither] 2.02.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [shutterstock_2113535186-750x406-5a8cb0db05f441deb12ea8d8c726a2c5] Meta posted 3rd consecutive Q4 2022 revenue decline and sharp profit drop due to market uncertainty, heightened competition and layoff charges. However, it exceeded sales expectations and focused on efficiency by lowering capital expenditures and increasing share repurchase by $40B. This helped shares to rise more than 18% in after hours. [Start Trading](113/cXx8Z04/VXfLTY77P_vkW3xG97v5GCRH9W4jRtpV4WxdgxN2lhp0X2-MK5V1-WJV7CgVPrW3Nf8my2pSbwNVCsr6m97VnGhW3rmrgj6VVmJbVx7sdW19hqsxW3TYFfq48KPKmVypRQ74L4480W7QqNGT7sRQx2W50kNX41VY1y8N23KJpsFZRc3W6b94lR6MNn_rW6jZ6514tsScqN629TzsgGrBXW4qctkZ5lR8WwW6m5nKY5213_SVW9Gvw8LKjNcW376M2v6tcpLyW6DqwXN79_RNkW63lx1y47F-VFW2bMbqt1K40XzW3s5V3v6k947W3hz_1) Trader's Corner In focus • Stocks rallied after market participants saw a slightly dovish tone in Fed's Powell comments, even if Powell stated he sees no rate cuts this year. We will be watching whether stocks could maintain their positive momentum. • The market's focus will be on ECB's Lagarde press conference for any clues on how much higher rates will increase. Remarks from the Bank of England's governor Bailey on the state of the economy and inflation is expected to weigh on GBP. • Lastly, earnings reports from tech giants Apple, Amazon and Alphabet will also be closely scrutinised by analysts. The companies' guidance and cost management strategies will be the key factors to watch for. Economic data • US jobless claims, factory orders, • EU ECB interest rate decision • German current account • UK BoE interest rate decision Earnings • Apple, Alphabet, Amazon • Shell, Ford, Ferrari, Dassault Systemes • Eli Lilly, Merck, Honeywell • Qualcomm, Starbucks, Estee Lauder Crypto • Bitcoin and the rest of the cryptocurrency market rebounded after a slightly dovish tone from the US Federal Reserve. BTC rose to $23'7'00 (+2.4%). [Screenshot 2023-02-02 at 04.15.26] [Start Trading](113/cXx8Z04/VXfLTY77P_vkW3xG97v5GCRH9W4jRtpV4WxdgxN2lhp0X2-MK5V1-WJV7CgFf0W7SMN1j8nQ7vSW3Q9TXT2kf_HwW4c8ymQ7zT27xW8-xLkc9d6RB-N1zCMgvH2HWSW4lbMmh2Mz5dwW8PqcNG5y5mjyW2k4QwQ3L6n9rW7j4MyS4_t5W7W8QHkCB45DwNBW7J_4J07qhYcZW8--Hch1J6C54W7wfcVn1bqnjTW5F1WGJ5n42nTW1n5tDY4phJkvN8hMKCgx33d7W3-xGJL4Jr6F4W2Dl_q26wK5VfW4lplbD4hq_T7VNFFmc1pHc41350W1) Market Recap The S&P500 rallied more than 2% from its intraday lows as the Federal Reserve lifted its target interest rate by an additional 25bps and announced further hikes were on the way. The optimism came as officials changed their terminology from determining the speed of future increases to determining the scope of future increases, which is slightly more dovish. The dollar dipped, weakened by falling Treasury yields. Oil prices (WTI) fell as US inventories grew more than expected. And precious metals extended gains on a weaker dollar, with the yellow metal hitting the 1'950 level for the first time since early 2022. This morning, S&P500 futures are little changed, digesting yesterday's solid rally. However, traders must be cautious as, in the past, we have had many instances of post-FOMC fake rallies. Chart Of the Day Given the fall in energy and commodity prices, the pressure seems to be easing in the old Continent, with month-over-month prices declining by another 0.4%, falling below estimates of +0.1%. [cpi-1](113/cXx8Z04/VXfLTY77P_vkW3xG97v5GCRH9W4jRtpV4WxdgxN2lhp0D2-MJQV1-WJV7CgD8pW93vMN97wLj4rW7xcBQz1QjMJJW1LWtps5q0-QPW2MWjlq5hcY9DW3j_p1R2pvBZ2W1ZXyJ-7jxXJJM12Kl3xDvCHW1KDfYt72tqshW3crFRQ6WYHLvW19Ntrg8h1W3kW2mT5km6L0gpwW7QhpnM99-jDgW2BlFD48N8hg9W7QdsgG1SnBvKN9l2_pg5Ctg1W7rx3qy7dHDv4W5RBK9X7Q3p65W1X1-Dk7GlyF532r71) FlowBank Blog Who to Watch in the AI Industry? [Dual-Arm_at_Deonet](113/cXx8Z04/VXfLTY77P_vkW3xG97v5GCRH9W4jRtpV4WxdgxN2lhp0D2-MJQV1-WJV7CgS3vVHr99n91rj8bW7732bx9bSdlCW4BXVyK75bbfJN4NcZvw6DYG6Mqnl8mGPC7SW9jhcdp3mmnSTN53sjn2HMrjFW5LTkzN3prBF0W5s3Kpf8-_Y0QN2tPs3ybzt1QW2WHg9p6xMczfW3FKzBj4KdQF1W3GtlyX6-9Vw7W19j_2x54zX0dN7BxrQC9sGgqN9fK7h1sh1hxW6BwcH336mw1sW3Cyk0X1zMDV33lNj1) In the world of cutting-edge technology, the AI industry stands out as a beacon of innovation and progress. As the industry continues to soar, it is poised to revolutionize the way we live and work. From deep learning to robotics and autonomous driving, the possibilities are endless. 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