BP scales back climate targets 🛢️ US CPI in focus ⚠️ Earnings: Hermes, Kering, Cisco, Applied Materials.

FlowBank's hand-curated fresh financial news [header_noDither] 13.02.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [im-714725] BP soared Friday after it announced it has scaled back climate targets and plans to produce more oil and gas for longer. The big oil companies - from the UK-based BP and Shell to international giants such as ExxonMobil and Norway’s Equinor - have been announcing astonishing profit figures, benefitting from the surging price of oil and gas last year. [Start Trading](113/cXx8Z04/VWMsbw3xv7n3W6MtcJ61Bm38LW2z6fd_4WZPzSN13dgpr2-MK5V1-WJV7CgL4KW6vxPzm4R_p1PVnpzrk1vXW0nW8zcWpj3tWbK8W3HfkJz8FRBMSV-JDFg3X50KMW71n9RP4fyL5QW9cRhhP6KHD3lW78wSF_4mHDRPW31QgjM7pRrs0W5D3ht727f4QkW7G8sjf4Jw5q-VmZ4DK4cPJT1VgXY-67f7X2CW3RRdDD38NrnzW5mrrJY7t_WmDW2M0drJ3PDhGFW2W3tYZ5NFsXTW6X0TXQ70HtjsW7Xrv1C6b0j2vW8j2-TK4-KzfD3prV1) Trader's Corner In focus this week • Investors eagerly await Tuesday's US CPI report for signs of moderating inflation following recent strong jobs data and its impact on interest rate hike expectations • More than half of the firms in the S&P 500 have reported earnings, with 69% beating quarterly profit estimates. Growth momentum and margins continue to take centre stage as investors ask for visibility. • Lastly, on Tuesday, Japan's government is set to nominate an unexpected candidate (Kazuo Ueda) to replace the outgoing BOJ governor. The yen rose on the news but gave back gains after Kazuo expressed support for BOJ's current position. Economic data this week • US CPI, retail sales, PPI, real earnings, business inventories, building permits, Philadelphia Fed Manufacturing • EU GDP, industrial production • German PPI, current account • UK CPI, PPI, unemployment • Swiss CPI Earnings this week • Airbnb, Coca-Cola, Cisco, Kering, Hermes, Shopify, Analog Device, Deere • New Michelin, SolarEdge, AIG Glencore, Synopsys, Kraft Heinz • Marriott, Carrefour, Heineken, Applied Materials, Airbus, Schneider Electric, DataDog Crypto • Bitcoin rose slightly over the weekend, climbing above $22k for the first time in a week as buyers stepped in. CPI Tuesday could add to volatility. • As per PayPal's latest financial filing, the payments giant held $291 million in Bitcoin and $250 million in Ethereum. [Table 12022023] [Start Trading](113/cXx8Z04/VWMsbw3xv7n3W6MtcJ61Bm38LW2z6fd_4WZPzSN13dgpr2-MK5V1-WJV7CgNM6N98pqJW13wzKW6CSN_X5c9J2-W98-cbR6LcB8NW579jrw3Ppx5xW4wbCzS6nnq09W4M6Vxn5CX4TLN6tVtGlfcxjyVcZrJr49wB9bW8f3MP67Kc8QgW3n1rS52J2Jc2W5zkwvC4TfM5pW6l_4lF6V9v8LVzb_Vb4P2d9kW5VLFCx19jlxyW5Gm1Dx5Vtw-8N4Cbds_KDJSTVMTmJB8mFPQ9VMNTZk55QhhSW6svxh66sTG1YN2x77S1SY4f-33671) Market Recap Weakness in technology stocks is pressuring the overall market as higher bond yields weigh on high-multiple stocks the most. Yields for 10-year Treasuries rose to a 5-week high (3.7%) as some Fed speakers reinforced the need for the Fed to keep raising interest rates for longer. Oil gained as Russia said it plans to cut its oil output to retaliate against western energy sanctions. And the EURUSD pair dropped as the dollar strengthened ahead of January's US CPI data on Tuesday. This morning, equity futures are down slightly as traders fear US inflation data on Tuesday could spark a selloff. The euro-dollar is down 0.6% on a renewed focus on Ukraine and a worsening global growth sentiment. Chart Of the Day Oil jumped after Russia said it plans to cut production by 500k b/day. [crude oil 10022023](113/cXx8Z04/VWMsbw3xv7n3W6MtcJ61Bm38LW2z6fd_4WZPzSN13dgp72-MJQV1-WJV7CgLyLVhCC926wSd9WVnPRzz3W426bW4879rG2SJdPWW25qPGR9km1GzN91QHw-60HhjW1dX8pk5mcgZBVWzBDq6RFd7gW9dPQpt1jpJRcW1Wb1xB5D7SwMN1Jvy_rT7TcBW8zX3Tn6dTDKQW7kN43Y5QLWvDW5zv5Vk1fWVLcW7s0TzC816MJjW5BccxZ8rVVVLW4-QBR29cmtgkW4Cxrkk2ddxDTW8Cw7Tz6BnsV42Gl1) FlowBank Blog Where Are the Best Opportunities in The Tech Rally? [Stock chart](113/cXx8Z04/VWMsbw3xv7n3W6MtcJ61Bm38LW2z6fd_4WZPzSN13dgp72-MJQV1-WJV7CgZ5HW1cnrVL2qlDRrW3t5MJB1V7VPqW5pjYYV8ZKdD7W62pNwS2hVK7qV9pW_P13l-cHW5Pt3v24Z7-99W3YLjJc5qHNM4W46d2d64Y3yqkW66cPZv6hxSqcW4S7Yyq4L5lD2W19s-DK8wdBtwVklbhR6xt1cRVN4T5T4w5CK8W6vdCzY2gjTN8W97HC-Y14ftlbW8G6Fql2nWsnRW9bVG0n7tKWyrN3n2ycYSqS3d3gnq1) Exploring the Tech Rally: Understanding the Changing Sentiment, High-Value Stocks to Watch, and a Look at the Nasdaq Chart. 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