Enphase beats 💪 stocks rebound 🎢 Powell speech 👀 Earnings: Walt Disney, UBER 🚗 Oil x Asia demand 🛢️

FlowBank's hand-curated fresh financial news [header_noDither] 08.02.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Enphase] Enphase Energy, the world’s leading supplier of microinverter-based solar and battery systems, reported strong revenue growth in the fourth quarter. Revenue rose 15% in the US and 21% in Europe. ENPH shares rose more than 8% in the after-hours. [Start Trading](113/cXx8Z04/VW2SSg2nvmGkW3-n9_q88kTH4W2NZxg54WN4CrN5l4bj52-MK5V1-WJV7CgFL5W77qT7J68f6xKW1q9MZ63TJXDTW93cBCN8hmQvSW8X1wPm1fvfGFW9lpJ4V8g08QDW5XvqZv67smKgW9jdB412hp6pqW3p6xS26vpbsYW254q4v89BYjyW1Rm1Yv5tyP9dW8sX0BM3jHx84W7c8Xv_5tBTnCTNV4Y4BQpgRW4TvWxH31QTjlW8tS4tm3tygZlW7dfMdK8yFryWW7Mp9sS7TRtjdN45GVdNYNFSNW5db7_h5BVq0gW56fR0P63sw1D3pQT1) Trader's Corner In focus • Powell's speech added volatility to stocks but reaffirmed his relatively dovish stance. The Fed Chair remains 'data driven' and we must monitor key developments in inflation (CPI next Tuesday) and jobs numbers. • US earnings continue with Walt Disney, Hilton, Uber, and MGM Resorts, which will tell us more about the state of the travel sector. For instance, are consumers still spending significantly on travel and leisure? • Lastly, oil added a jaw-dropping 4%, settling at its highest level in a week on China demand hopes, and Middle East supply issues. Economic data • FOMC Member Williams speak • German Buba Balz speaks • Crude oil inventories Earnings • Walt Disney, Uber, CVS Health • Wendy's, Yum!, Under Armour • Affirm, Hilton, MGM Resorts Crypto • Bitcoin rose more than 38% in January, its best month since October 2021. The next catalyst could be a continuation of the risk-on trade, but this is likely to depend on data on inflation and economic growth. • Binance, the world’s largest crypto exchange, will suspend USD deposits and withdrawals from today. It could be because its banking partner Signature Bank raised transaction minimums for dollar transfers. [Screenshot 2023-02-08 at 07.13.33] [Start Trading](113/cXx8Z04/VW2SSg2nvmGkW3-n9_q88kTH4W2NZxg54WN4CrN5l4bj52-MK5V1-WJV7CgMRxN5LbZDHgQZdCW6dcXH97Vlt-MN6Mmyb51dhkNW8sf1VM4WwPWFW93dZxt30wXnGW5cRmkv5PnjKTW6KKN4973RxbWW3v-sVS6vL-WwW3P9D0W7xPb7WW8-Wjzk5wyT8SN3rj_pm7xPMgV_YYC53Xtd3nN3fYt7bByt5-W4TVb567cB0ljW2Bt_9b21HCghN7_3P37jpLCgW1m1V8j6RMymYW4j-1M169TGdhVlw1kx2MTD6XN1hmgcgGvB9N3hhW1) Market Recap US stocks advanced significantly after Fed Chair Powell reaffirmed his rather dovish tone. Microsoft added almost 4% after the tech giant said it will revamp its Bing search engine with AI-powered tools. Alphabet also gained 3% plus. AI play Nvidia rose almost 4%, riding on the hot theme. Oil rose by more than 4% on China demand hopes. The dollar index (DXY) only fell slightly. EURUSD remained around the same level. Surprisingly, 10y Treasury yields jumped 4.5bps to 3.68% on inflation expectations perhaps slightly higher for longer. This morning, S&P500 futures are slightly in the green, with previous session highs remaining a key target for bulls. And markets will follow FOMC Member Williams' speech later today, which could add volatility to stocks and to the dollar. Chart Of the Day JPMorgan's Kolanovic is the latest to fall in the bear camp, calling the stock rally a 'bear-market trap', arguing that the US economy' disinflationary process could just be transitory. The reality is the situation is more nuanced as markets are digesting favorable data that is showing the economy is slowing but it is still resilient. Inflation is for now slowing, and earnings are stronger than feared, but the jobs market in the US remains too tight. [image-png-Feb-07-2023-08-46-54-1981-AM](113/cXx8Z04/VW2SSg2nvmGkW3-n9_q88kTH4W2NZxg54WN4CrN5l4bhQ2-MJQV1-WJV7Cg-frW7Hsvby5RlH2SW3WZzJ81YhBMlW70pbMP1jhdgLW6bkj6q4b9RndW5fNVWh94Pm5TW6rkJ9_66FfxtVtw_Z88YdXYjW73w6YJ5kRFDKW3T_gl13m25wQW8xD-S914PyMwW3y3XVY5YRp4CW8vW-CF39rNFgV8XFlF3j5DYvW3JXGKj5dK-2BW6GwTDX5p_WTXVtVg7x63tc3bW1rX5cQ5BlbcQMvX8JjL4QNm3hmr1) FlowBank Blog Will EUR Rally Continue over Coming Quarters? [Screenshot 2023-02-05 at 21.20.08](113/cXx8Z04/VW2SSg2nvmGkW3-n9_q88kTH4W2NZxg54WN4CrN5l4bhQ2-MJQV1-WJV7CgQ8tW3t2fK76j9pHbN4ljpHtjBc_2W35TLh932pbm7W2yr0wF4sNjskN2q_P-yQpLYjW6d-MPF4wRH0bW5qtRlX59c8tlW6jmsDk31c8JJW4jhGT342XngQW93BsxK88zYjMW8xwXd51z5S2hW3Xrd9p83t8WkW4X-yY147NTpyW93NmJC5CCT0yW1-c-lw4_TrlBW2vjpy417w0PTW2BvLsZ2dQ3ZHW4H_Chq69r_qQ3pgK1) The recovery rally in EUR has become one of the key market themes of the new year. On the back of the roughly 17% loss in EURUSD across 2022, the pair has since recovered around 75% of these losses since Q4 last year. 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