Nvidia 'AI' ambitions 💻 Today: US GDP, Jobless claims 💼 Alibaba, Booking earnings 📱 Stocks vs sentiment 📈

FlowBank's hand-curated fresh financial news [header_noDither] 23.02.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Nvidia] Nvidia stock rose 9% in after-hours after the company reported slightly higher revenue and net income than expected, despite a year-over-year decrease. Data center revenue, which includes AI chips, increased 11% on an annual basis to $3.62 billion. Nvidia said AI is at an inflection point, setting up for broad adoption reaching into every industry. The AI giant said it will offer AI-as-a-service, providing enterprises access to the firm’s “world-leading AI platform”. [Start Trading](113/cXx8Z04/VVRhvD31zmfqW4JYgr48HmtMZW44_bnN4XmcY3N2nfYx52-MK5V1-WJV7CgXWsW2dFVz21CKpHFW4S0ZKY1wcbf4N7nWtNxVv6hCN5rKPXZB4vLjM-VR_XH1ps3W6sG_z750QS0lW96SG8V1qFb-yW6NTXF_2ybf5kW4xg5K48f2dYYV1QM7_2tx5zCW5B48FF2M7swMW4p_zLc97qfs7W1mSvV15980v5W7vFdmM2BKStxW4nVjV_6wDwS-MqfTKPtb2WWW88_mWq2BBmRHW27mrv71-8HMrW1kQbzB17b3G2W5gjzQQ5WxqwY3d7M1) Trader's Corner In focus • Sentiment remains very fragile with many market participants convinced that the market will revisit the lows of last year. For now, markets are holding relatively strong, despite the recent surge in bond yields. • The Fed minutes presented a mixed picture with Fed members determined to do what it takes to bring inflation back to the 2% target. Today we will watch the Eurozone CPI and US initial jobless claims. • Lastly, Alibaba is set to report earnings this morning. After initially rallying, Chinese internet stocks (KWEB) are now in negative territory for the year. Economic data • US Q4 GDP, initial jobless claims • Eurozone CPI • Crude oil inventories Earnings • Alibaba, Domino's Pizza • Booking.com, Block, Mercado L • Moderna, Newmont • EssilorLuxottica Crypto • Bitcoin and Ethereum dipped more than stocks, despite the dollar and yields easing. There are no immediate catalysts, but Ethereum is still up 34% year-to-date. Bitcoin is up even more, at +43%. • Hong Kong will form a task force bringing together policymakers, regulators and crypto players to set the agenda for its Web3 ambitions, a senior government minister announced. [Table 230223] [Start Trading](113/cXx8Z04/VVRhvD31zmfqW4JYgr48HmtMZW44_bnN4XmcY3N2nfYx52-MK5V1-WJV7CgHglW8zn9Yj29lzn0W7Lb6VB1GQGyfW7Jt_9G6TNNGsTtH52945y0mW5903kn8ClJDbW4tf5jY8sWm3PW8jLVSk7-s2rXW3sFQ_y4MbF5NW11NxBs704F1fVC2pcb4N8pq3W4d6xwL2xlGnJN6xk2MkWrkWQW1YNw4r1ls8HxW8t1svw3ZtMk8W74vR_C4RkJ5TN1pDTpmXxdDhW476b2N2PY3g0W1wyR2J8gJQsFN5Z9ftVzcp6CN68qTCtVkYQc3fvD1) Market Recap Market sentiment is fragile but after their recent sell-off, stocks seem to be attracting dip-buyers. Some are optimistic that Treasury yields and expectations of further hikes are at 'peak' hawkishness. Crude oil fell more than 3% for its 6th straight decline on fears of a recession. Analysts commented that initial supply shortage fears have not been realised since the Russian invasion a year ago. This morning, S&P500 futures are pointing after tech earnings fared better than expectations. Market sentiment is still vulnerable to rapidly climbing yields. All eyes will be on US GDP and jobless claims data. Chart Of the Day Stocks and bonds are still falling in tandem, in light of the recent climb in Treasury yields. Treasury yields are now 4.69% for the two-year and 3.95% for the 10-year. Investors are nervous the US Federal Reserve will be forced to raise interest rates further and keep them higher for longer, in order to cool demand and in turn tame inflation. [Stocks reconnect with bonds](113/cXx8Z04/VVRhvD31zmfqW4JYgr48HmtMZW44_bnN4XmcY3N2nfYwQ2-MJQV1-WJV7CgPfDW3LVjXB7Bg7JPW3YD2hh3Y_NFLW5D_hp_9hBZm2N8BYQZgXMZR1V19KS_5kzVxgW8-5-HX6wzWggN5l84vY3P-G-Vc_5Nz7D6XwQW2l1Wz399dQ6rW2s9m7n9ggJRTW4H6T8d4Z9Q2hW6qzxHm8bQhntW4TmRRs6Vb5JwW4qCW_-7y3jPxN31_8XglYJHZW4svvD21gRc0mW4ltlP07N4Fy9W4C253L4Bp06F3q9r1) FlowBank Blog How Will the BOJ Leadership Change Impact JPY? [Fushimi Inari Taisha Shrine in Kyoto, Japan.](113/cXx8Z04/VVRhvD31zmfqW4JYgr48HmtMZW44_bnN4XmcY3N2nfYwQ2-MJQV1-WJV7CgGBJVlps0p1RLfDfW3J5Gwf6xSR5TN8fHBT9ym1CtW1Cp1Mf1YqzhNW8c7yXR5M9YlBW26r0Sv6J8XLjW7rgQw64F3-bsW63MtFr31tNwvW5tsbln8-TqhlW3sPCHx6PdpHCW4m2_TH6sJDGhW4sZnNc2S7BxwW5nbvC84WkZhxW6qvt4076pggFW57K1FY193fd4W6r1QQ35Lnc5mW1tc2PH2vC483Mmw-kc8dZzX37511) Shift in BOJ Leadership: Impact on JPY, Hawkish Expectations, and What to Expect from Incoming BOJ Governor. 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