Deere beats 🚜 Stocks whipsaw 📉 Fed minutes 🎢 Earnings: WMT, HD 🛍️ Dollar reversal 📈

FlowBank's hand-curated fresh financial news [header_noDither] 20.02.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Deere-1] Deere&Co (DE, +7.5%), the world's largest farm equipment maker, beat estimates for the latest quarter and raised its annual profit forecast. Revenue growth was driven mainly by high-horsepower tractor sales and increased spending from construction customers. Strong demand from farmers was fueled by higher commodity prices. [Start Trading](113/cXx8Z04/VX7VJT1vrS7hN98lgNm1xZ0TW6rg8CD4XdPHzN24tzvD2-MK5V1-WJV7CgFlpW7ZGt1P6ttP8vN73-Jj-22Jw-W47v6B-31hWn6W25qZjr1v-5sfN3-gthHQhyBhW37TzRf5ggNCJW4PBwMt2Rr_jvN7TrNVq857K0W5sh8BX3f0dq-W11k3gh3ztjzrW8VxSV-2mDRPtW7zKbvC2Y-0TSW5l7rb_144RTnW4N4nLZ94Sj3vW42_0zT3X33B8W13705F8kLP5zW1cvSZq1nC_zmW1b7QZF2SCn-HW1_ytZd1K1J2BW8LKk_k3NYmXG33x_1) Trader's Corner In focus this week • The Fed will release January meeting minutes on Wednesday. Investors may look for hints about a possible larger rate hike at the March meeting, as some policymakers have expressed support for it. • Walmart and Home Depot are set to report, providing insight into the strength of consumer spending amid rising prices. Analysts predict that their guidance and consumer sentiment will be cautious at best, and these reports will set the tone for others in the retail industry. • Lastly, The dollar is reversing course, as the Fed is expected to raise interest rates further and maintain higher rates for longer. Economic data this week • US FOMC minutes, Core PCE, GDP, PMIs, Personal Income • EU PMIs, CPIs, GDP, Consumer confidence, construction output, • German PMIs, CPIs, PPI, Business expectations • UK PPI, car registration Earnings this week • Nvidia, Rio Tinto, BHP group, Williams, Ebay, Lucid, Intuit, Booking, Moderna, Autodesk • Walmart, Home Depot, HSBC, Medtronic, Stellantis, Danone • Engie, Capgemini, Anglo American, Warner Bros, Newmont Crypto • Bitcoin rose more than 8% last week, as the largest crypto by market cap continues to see buyers come back since the FTX implosion. • In the face of rising competition from upstart rival Blur, leading NFT marketplace OpenSea said it will temporarily eliminate its 2.5% fee on sales, as it attempts to weather a rapidly changing market. [Screenshot 2023-02-20 at 06.43.08] [Start Trading](113/cXx8Z04/VX7VJT1vrS7hN98lgNm1xZ0TW6rg8CD4XdPHzN24tzvD2-MK5V1-WJV7CgG6mW3cT8VW60yDF_W4SlVvm4D2Qr6W7Q8-mN3zkrW-W36Jk7P7yPjPBN1sp0g-f8LJcW2SMZLz8Bcb5WVrPk5c7JKYVnW5cj-jj2rqbMTVsJ7Kd60YXHhW6jbs2341ycgkW2k8qhG84sQ6DW35t4Qr7Ww6LZW88rgZk6WFKGrW6hYQ746myHGsVsZr_k3ZgYpJW3kc3t08Z2mMHW6ZlKJq2y21ftW95FdR49kmZTkW9g68F33yL4nTW6f1tK07WqhTs34KG1) Market Recap Last week, the stock market continued its recent downward momentum as investors sought to take profits after hotter-than-expected US PPI and tight labour market data raised worries that the Fed will take its monetary policy tightening further. Tech stocks led indices lower. The dollar strengthened as Treasury yields jumped across the curve, with the 2-year yields making new cycle highs of 4.71% at one point. Among sectors, defensive-oriented consumer staples, utilities, and healthcare stocks outperformed. Meanwhile, the energy sector was the worst performer by a wide margin amid falling oil prices. This morning, futures are steady in light of the holiday in the US, Canada, and Brazil. Shanghai's stocks benchmark, the CSI300 is up 2.2%. And Goldman Sachs came out with a call for MSCI China to rally 24% from Friday's close, in 2023. Chart Of the Day The currency market is heating up as the euro-dollar takes a dip, hitting a one-month low of 1.063. The dollar is looking strong, helped by positive US economic reports. [Screenshot 2023-02-17 at 10.37.28](113/cXx8Z04/VX7VJT1vrS7hN98lgNm1xZ0TW6rg8CD4XdPHzN24tzvk2-MJQV1-WJV7CgTG-W7sXhVV4msjD7W51BhLG3z9sxYW3yBzGY5fGGLzW3fJMD025jSwQW8r22j16N_7JtW8bd3mR8vXrLQW6Q9_Fy64_CxZW4r0W_x21VMt2W2d6ZP728PsryV_vmjF1-CGxTVybC1V9b-tV5W7MdRtl2b4WmqW7G2w4t1S3MVXVX-_DM53cD51Vj9TVJ3Yd2X2W3yWgvD6K-QrtW8WKk9P6XsFhRW21Q3ZZ1kqNfz3hLK1) FlowBank Blog Is BYD Eating Tesla’s Lunch In China? [Tesla China](113/cXx8Z04/VX7VJT1vrS7hN98lgNm1xZ0TW6rg8CD4XdPHzN24tzvk2-MJQV1-WJV7CgVR3W5tl4S26bFfCsW2qMwXt5Llw19W2GKVn32V0N5_W1mwC5c3vtQm9W95hDYp9gb4m_W58LmY78YJbdzN2lqQ9pZrKNrW5rFsyW5tdVhtW1BC5Kv5R0XhlW2JgtFb5rQlqqW4Q7v5d5M3v-jW3NskG88C6XTdN1lrJ6w23QY8N2r7mhX6Vy4XW7Y7Q-X6sTVXzW7TSmS56Rz6XTW8k9GP111-3wDV7FcwP5dzN8T3p_B1) Is BYD overtaking Tesla in China? Find out the latest market insights, production issues, and price wars between the two leading electric vehicle giants in this informative article. 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