Sonos beats 💪 stocks dip ☔ S&P500 < 4,100 👀 AI stocks 🚗 EUR fragile 💶

FlowBank's hand-curated fresh financial news [header_noDither] 10.02.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [210309144856-2-sonos-roam-underscored] Shares of audio product developer, Sonos, jumped 16% after their fiscal Q1 results handily beat expectations. The CEO expressed optimism about the company's performance, sales, and product roadmap, highlighting the lack of serious competition. Sonos is setting the bar high in the industry, leaving investors excited for what's next to come. [Start Trading](113/cXx8Z04/MW2R5Wkk9xTW4Xxh1N1l_Lb5W8_npSB4WSn59MyCDlS2-MK5V1-WJV7CgBlyW3w7xqc9bqsQ_W3nrcV94Qm87wN73h0h1pcl6pW27tdRn8kXqZdW6d3w7r5SNBc7W6bVLwS7CmWVTW3BgjdV96MQ6HW59wRJ-5N5p21W6GfGzy60cHWcW1bZ67x3K-ZK3W40zYpd2yJxRlVXMmJ44tTbrxW4gkPD7672b8DW7k2J806bMgY0W527jH53_BCnjW8BZqhV16nDYpW4Vq38M6dLTjmVTl_1D88BZlGW4D4vjm5ZkwpLW6rjm123p7jXl37s31) Trader's Corner In focus • Stocks whipsawed after Treasury yields rebounded. The S&P500 broke key support levels, ending the session below the 4,100 level. Technicals are pointing to more downside risk. • Microsoft surged 7% after its AI announcement, while Alphabet faces its worst weekly performance since November. Investors are closely watching AI stocks as the revolution continues to unfold. • Lastly, the dollar and the Treasury yields will be on watch. US initial jobless claims came in higher than expected but still point to a tight labour market. The dollar gains could continue should yield rise further. Economic data • US Michigan consumer sentiment • German current account • UK GDP, business investment, manufacturing production Earnings • Newell Brands Crypto • The crypto market fell on Thursday on news of further US regulatory scrutiny. Risk sentiment is also reaching its limit as rates remain high. • DeFi giant Aave launched its dollar-pegged GHO token on Ethereum's Goerli testnet. [Table 10022023] [Start Trading](113/cXx8Z04/MW2R5Wkk9xTW4Xxh1N1l_Lb5W8_npSB4WSn59MyCDlS2-MK5V1-WJV7CgDCFW4yZKkX4X1f04W1M2QKc7h1WWWW4Zntsy5vPnchN6m714WpQbNlW1fQ6BB8mWxwRW4Q6Xvm43pb_SN1x6TxHsScJmW5t1P8h8dJlHjW9k8QbT4-0vppW8K0fjC12z549W7z4wjt4V1_nhW1WxSbc2bVYQjW71tSv16jrrP7W90Xk7z3Qf1rdW2KjX_q5hnFX3W295ys021pjgGW19QRN_7l8Fl3W2C1zT92JLq4TN2FvpSYnyGNNW3-Qlf925c0993hSn1) Market Recap Wall Street hit a snag as the economy and interest rate jitters sent stocks tumbling. The communication services sector was hit particularly hard, losing 2.8% and grappling with further losses from Alphabet (-4.5%). The EUR had a fleeting moment of glory with a fake rally, but its early gains quickly faded as it faced rising Treasury yields. The weak US bond auction caused yields to climb, sparking fears of potential illiquidity in what is considered one of the world's most stable and secure investments. This morning, European stocks are set to follow US stocks 0.5% lower on global growth concerns. EURUSD remains under pressure amid the rebound in US Treasury yields. Chart Of the Day Initial jobless claims, the most timely snapshot of the labor market, came in at 196,000, an increase of 13,000 from the prior week, but still pointing to a tight labor market. [Screenshot 2023-02-09 at 20.11.34](113/cXx8Z04/MW2R5Wkk9xTW4Xxh1N1l_Lb5W8_npSB4WSn59MyCDly2-MJQV1-WJV7CgW1GW4CLT-w6NmF9LW28lSfd6wt3vTW6rVwy05qLJq8VtwfmL4-2SKPW77VpZv82qJMgW5-55zK7BNr7TW7Brr7B5j2x8pVCyvBm4m15kmW6wRH3H1Mhjn2VKDfTg1-HjKqVjqtHX7XdGDWW1Bt7_l8XwJdMV83Mts7KhSRYW4z_q6y3pjdX3W1KyPc81hgNB3W2sfKGW45SSJYW72CNNX6k6wqJW3s2RZG70MTtg3p9t1) FlowBank Blog Unpacking the Latest Earnings Results: Winners and Losers [Screenshot 2023-02-08 at 16.13.16](113/cXx8Z04/MW2R5Wkk9xTW4Xxh1N1l_Lb5W8_npSB4WSn59MyCDly2-MJQV1-WJV7CgD8_W5L-gm38d2Sw_W7hdS2m8wRHxYW7Gpfbj7YsBrHW4CgFLx1QgNtjW10FdWN73sgvcW1kwMmY5C2jKWW3d2vmG2s30zmN7G_XFTmYTGyW7fQQCY5ktPrdW2DXT644CnHnrM7QGsnnKyxKW4jj46t7rc-cDW2DjLh-6dgJbbW1b_Lq-781745W6M1n6h2HNvg5W6GmC6w9j8HcNW18Ym7h4g-H-PN7HT5LpRz7x83pjq1) The latest earnings season has been a mixture of positive and negative results. The rising interest rate environment has placed pressure on many companies and sectors. Despite this, there are some signs of growth in certain sectors, and the overall outlook remains optimistic. 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