Holcim sets record 🏭 Today: OXY earnings 💼 Wall Street attempts recovery 📈

FlowBank's hand-curated fresh financial news [header_noDither] 27.02.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [holcim] It's been a great year for Swiss-French building materials manufacturer Holcim, with record sales and a 44% increase in net income. CEO Jan Jenisch said the company has faced some challenges due to inflation in raw materials, but he believes that things are starting to improve. “There’s no recession at Holcim,” he said. [Start Trading](113/cXx8Z04/VWDntp6k57kNW5BkN6D8d1K77W1h36Dw4XwQTJN2_Qd4f2-MK5V1-WJV7Cg-zyW6M3Jf67l1HGBVBb40n3FKq-3W45PtTb86tN68W9k0gM08bhMwvW5NP0by16Tp46W3GJZlY4l8Fg8W1VDY9G1t2y98W5Q4jwT64KxRDW33dcZJ3rRzfzVkPMsK3qqPh8N8-lwNYV3kf-W2nwl6T8xl-jfW2RRQ7L5BhVgHW8Q2LPZ8vxKywW76FvB95nM9qlW5FhSgK8JzHCkW8-FvSk8JmYVGTHhMQ4TFDQCW5BFyLb7yFLHCVqjbLp3stxJM3lDl1) Trader's Corner In focus this week • The EURUSD pair could see more volatility upon the release of Eurozone inflation data (CPI) and US jobless claims Thursday. Traders will also closely watch US PMIs Wednesday and Friday. • After its worst week since the year began, the S&P500 faces a key test of confidence, as many are adopting a negative view given the surge in yields. Technical support can be found in the 3,940-50 area. • Warren Buffet's second largest oil&gas position, Occidental Petroleum Corp reports quarterly earnings Monday after markets close. Blockbuster results can be expected given the surge in oil prices in 2022, but the outlook could be murkier. Economic data this week • US: durable goods orders, pending home sales, CB consumer confidence, ISM PMIs, jobless claims • Eur. & Germany: CPI, PMIs • China, UK PMIs • Canada GDP, Japan CPI Earnings this week • Salesforce, Broadcom, Zoom, Okta, Snowflake, Dell, HP • Costco, BestBuy, Target, Dollar Tree, Lowe's, Wendy's • Occidental Petroleum, Marathon, Petrobras • Nio, Rivian, AMC, Veolia. Crypto • Bitcoin continues to pullback after touching the big $25K mark, easing back under 24,000 since Friday. After several tests of $1,700, Ethereum remains range-bound. • Lawmakers in the South American nation of Columbia held a two-hour hearing in the Metaverse using a platform run by Meta. They wore virtual headsets and appeared in the meeting as computer-generated avatars! [Start Trading](113/cXx8Z04/VWDntp6k57kNW5BkN6D8d1K77W1h36Dw4XwQTJN2_Qd4f2-MK5V1-WJV7CgSDcW2CR8Nj31hF_TW6HyKxZ2ShhCJW3-LRgQ5MXmsDW8k7_321Q5RNXW2B8Gwn6FXGqwW7D_h9N4vG7NcW7692HT838lk4W5qlT_f1T_h-kW7Btwbt4L4RspW997_tC4GfYz9W3pYGYb3vrMN4W3tpqM21GDHVlW4JmGJ582c6CDW9664B29f-2yzW1k6tzY71JKvyW74dD-n4dmsFMW2L5Pzy3CgVHBW7KsLd-6l0kKfW7qDrXk641fRVW8-KV5K58rlRN2Wh1) Market Recap Stocks ended the week lower on Friday in the United States after the Fed's preferred gauge of inflation came in hotter than hoped. The Dow has dropped for four consecutive weeks while the S&P 500 had its worst week since December. It was another rough week for precious metals with gold hitting its lowest levels since December, not far off the big $1,800 level. Silver dropped under $21 per oz. Rate hike fears are underpinning the dollar and knocking metals. This morning, S&P500 futures are steady, ahead of a busy week with economic data and retail earnings. Stocks in China followed US peers lower and Europe is set to open slightly in the green. Chart Of the Day 10y Treasury yields revisited December highs. Yields have been climbing with inflation expectations not coming down as fast as the Fed would like them to. Market volatility is also rising. [10y yield 24022023-1](113/cXx8Z04/VWDntp6k57kNW5BkN6D8d1K77W1h36Dw4XwQTJN2_Qd3Z2-MJQV1-WJV7CgPbXW7g-9Dq3k-Q03W96zpQN42grS6N2ztwYvSgx5FW9gKsS_9k4Q_MW6PGrBf7fYwDlW6RH0B78lxPs3W5J_MFV3wtSxlW2jRPDF5kddrXVqF9KN3tqCflW2lL79D4m9Vd3W5WvrvP4XvFZHW7qPLzb2zZhsqW7Lw-Xr3H3Vs_W6WPDZx2G9grhW72Th_b7cs4DJW7fWbSf7FfKLpW1Py1Wz71dj8zW6z5LqK4SG9y73nxm1) FlowBank Blog Meta Verified likely no Game Changer for META stock [zuck-meta-name](113/cXx8Z04/VWDntp6k57kNW5BkN6D8d1K77W1h36Dw4XwQTJN2_Qd3Z2-MJQV1-WJV7CgKFdW4TSjrp6lYGf8W66Gtlp92Qc09W20LFwn7lbdQ8W5_nkVh5R3YsHW95h8cS7b3TC4W1QwMfV2WSZJFW4Bm30L6C5GkbW3_YnnY1McckkN1WclsCDftffW90Nz7h9fY0yRW8TYjm13nVBbnN4kxmBthgYMyW360D9g3_NSFpW3yXJQX47jsC1N7cnLL9FwWXcW39vzGq1pGr42W8w1V0B8yDZlCW6FKB7m96RdSF3nhL1) What is it? Facebook parent company Meta announced that it is launching a subscription service called Meta Verified. 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