This week in markets: ARM's chip plan 🦾 Tech earnings 📊 US Inflation 🏦

FlowBank's hand-curated fresh financial news [header_noDither] 24.04.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [arm] Chip designer ARM, which traditionally sells its blueprint designs to chip manufacturers, will instead team up with manufacturing partners to develop a new chip. The move comes as Softbank aims to boost Arm's profits and attract investors ahead of its New York listing later this year. [Start Trading](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQmB2-MK5V1-WJV7CgBVgW4S9qpb4qKWpZW3Z6syB97V9cHV5b7RQ7V5ysVW2K6_jT7Y0KY9W2JxMdq83T_zkW8z--kK6HmhH2W15YX7Z25jtc7W2YP2GV2-rLQwW1xJCmZ3VBNVBW9dll6S2HYPqpW83fDSK3ntHh9W8yqrM545gXlHVNL6Vd3-NClKN5R5DrTndBtXW3ng3jt4g8DYPW1kyL9j4qTVDGW3lqlsx2LktPgW6ykl1Y5lFDqSV7ZHjp6V45LzW7_QfbC1RV7m83mSv1) Trader's Corner In focus this week • Some of the biggest names in tech report earnings this week and will shed light on whether strong gains in the sector this year are justified. • European banks' earnings come after a volatile Q1, which saw the downfall of Credit Suisse and the collapse of 2 US banks. • US core PCE, the Fed's preferred gauge for inflation comes as the market expects another 25 bps hike in May and several rate cuts by the end of the year. Economic data this week • Ger. IFO business climate, CPI • EZ GDP, consumer confidence • US core PCE, durable goods • US GDP, consumer confidence • BoJ rate decision, Jap. CPI Earnings this week • Amazon, Alphabet, Microsoft • Meta, Barclays, Unilever • NatWest, Deutsche Bank, Visa • UBS, eBay, Exxon Mobile, • PepsiCo, Chevron, Boeing [Start Trading](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQmB2-MK5V1-WJV7CgVDgW6N3R_p17jywdW2MR07W27lJHtW7kCd546bBjgQW1L9pf63ZQ8DjW7dZnvy2dR8ltW3d3qnw7bVCt6W523KzZ3t0bYhV-hSt-8_B4ckW8GxH5H2fTSDpW4wDmDg7PpV4JVlCxjq37kDmBW8tZbFP5FntpFW4sgdL54LZ7TGW5Y_Sgd12vlFjW5Y2Fs16gPHSJW4b5Dnt1Wg9dtW1gdd2223nsYMW1Pdxjf2tjkkGW27z8lS8kXsJNW18Z50L50xpC43lBF1) Market Recap European indices closed Friday higher, after eurozone services PMI expanded more rapidly and manufacturing activity contracted at a faster pace. UK retail sales also fell by more than expected, highlighting the squeeze on UK households. US stocks finished Friday flat but were lower across the week as investors weighed up stronger-than-expected PMI data, hawkish Fedspeak, and the latest earnings. 18% of companies on the S&P 500 have now reported, with 76% of those posting a positive EPS surprise. Today US and European futures are falling in a downbeat start to a busy week ahead with earnings due for big tech and European banks. US debt ceiling risks also bubble away in the background. Today German IFO business climate and Dallas Fed manufacturing will be in focus. Chart Of the Day The S&P 500 continued to climb as investors “buy the dip” despite recession risks. A buy-the-dip strategy in the S&P 500 this year would have been very successful, versus in 2022 it would have been a "sell the top" regime. Could it continue? [Buy dips 21042023](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQmh2-MJQV1-WJV7CgNwXW7ghPn_5tjlZxN1tK0q6BYlkvN72xVDfYcW1WW6zPTv47z4wVQW1Z7xQZ2Fhq5tW6b_y5v9hF663W3-sFQg2WpyTnW6WbQYr8333CjW7Jwn8r6BfN0KVw_9T_4Gsh-JW41GvSV40kdPNW3wW-hf7mYgm_W6_tQs-1X6NVnW5XJqt711rfSJN2Y3fLLTZMjNW4JW0sd3GjbP_W6LrkHt23V9ftW80JSnZ5zVgz0366m1) [LINKEDIN](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQmh2-MJQV1-WJV7CgDsBN9jWGq7Ms6_zW1-PsMv9024KjW8M4SLB42w6yzW7kn8n87fqy2bVx1wgs3jzN-1W48PRxw8Sj_fqW5D7-NM8j5pHvW5-09Wy6GvBs-W2MT3gZ53FMmWW8h2KYf77XMS9W4Qm9Qn4bFCDsW56gv1q1C02HhW3wJbC24Jj4mTW2xJkKG7kjLqdW2TkxJ36b6NbxW9bdT6f87WQw-W7Tvn207JDNYHW1KQFGM54rNlf2qV1)Highlights Oil: 'Stuck' in a Trading Range. Here are the Catalysts 🎢 Supply is restricted in the medium term given OPEC+ vowed to cut production. And global demand is not coming off track. This would likely require to see a sustained downward path in economic growth. Click [here](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQmh2-MJQV1-WJV7CgFMpW6gn8pN623VRFW35lw4T4vrmBjW3ZtfmB5fnkKrVy4GXM1RjGvPW1YTpMB9l2gq5W7zbbdr4HzJMdW11Yrsl5NW7D-W3FRFyY2zH8ZmW3XlYZ13yvbF1W64bYXX5wDVgFW8wNwSP134Z4rW6Jj3928v_5fXN65vKbjyz2_hW158xvr3lv_VgVJD6zR8VM92xW4m4xQ79gBMBxW1fnf6r4dqP3mN6dkmcfpkxkh3gBq1)to read more. [wti RANGE-1](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQmh2-MJQV1-WJV7CgVQNW13bFgR5Dn_bMN1-LwMBPfCglTsknm6xbky6V5LyL31R1Qn-W8d2D7R5VN6yzW48ZVpl7RlfxYW8HVztD5RrHtfW1JZNGp1K094yW86ZQG23jTj6qW1S891c3pd-mdW2PCmhF39mB6TW8YxJlV6rdpq8W4ll0KK6Bk01jW9gn-G-9bncbZW2xSYzs847g8fN3KWWMhYG0szW3JNm997_4ZW9W5Y_CYn6hnnWC33vC1) [LinkedIn](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQmh2-MJQV1-WJV7CgMpZW1tYHDy5b_C0qW5Yc8pW7NSqcbW5zdz6p3BntCzN7XgDSJd0bL-W5nHzYz47HfDlW99MJ9l6Ls0qmV3HnxP8ZFygyW2cdyDc4WK6YcW54hyM43h0_NXW911N1d1kvv36W4jMtVL5wY25DN5rN632Zt8BnW3T0sGb3x_BWTV2Blhh4KF3p9W4MDps12H4zrbW3T3C2J5d3vnWW14TlC_7G_JZ0W8LJRFw93T2P331MF1) poll: Will Big Tech earnings exceed expectations? [Vote here, we would love to know your views 💡](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQmV2-MKpV1-WJV7CgT1zW11Yf3n2YXpdsW3gnS516FRf0CW8ZBxBc12KwHcN12ydRX_njKnW10H_fm2Lyb3LVXRY_S5Gt5W-W1WWlfD49pGtFW46kkW211W7TnW7VDMwM7C1kHPW6bLcps5TB7s6M-mWYwwjkNKN7ZblLPpnJRdW7j9Fdq90T64XN73kcm1PJSkjW3TtC3H4D-bMcW8r3v0w152-dxW5gB_bX7wLJcJW5wx23l4-yt2BW83fmQ24YJytpW3pSkZr41gCVgW6Z7lqH2pYRpHW84509Z3HJdnC35Qc1) [INSTAGRAM](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQl_2-MJwV1-WJV7CgH0GW8KcQKd2Qt7mPW6V1_jF2XfRh6W3nH__C6mfzvzW5npvRY834llNVFpzcR80x2SRW3MB9rP2Zzz1lN4rXKrLDn4PjN6DpwhfxbLz0N3MxgC-TMLqFV67mvw1QXh5WW79sGkN1sV-5_W7dWyMF318FDPW6CW7CV7_CYdfW1sfXpS2WWXB4W461NCT58g5DLW85PpTZ78j2DB328C1)Highlights Renewable Energy Companies In Focus 🔋 Click [here](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQl_2-MJwV1-WJV7CgSqbN2RFb6tXSntjW648Dw28cC9brW7XX54j1jr_v5W4cDYnM8tfzfcW7kcQDy6wSwKGN7QF3YxyYFZwW60SQNY8CPhLbW22fr1d65Gzh5W96b6fd1qvsbtW4wQRZV46mQXMW45mD3X2xpWCmW5b0cJt1tmTrTW16GGlV7NqB5VW3LFKcn50T4Z1W6SDxfp25b_W0W8r8TG46CB_1s34Dq1)to see our page. [IG 10 rc](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQmh2-MJQV1-WJV7CgTFZW16tzXH8Jq6_zW331b-s4qMmx1W3bb65M31sL2HN3DbbKrbVqZwW9d_MK87bLjnLW8PkWzT4vVj9HN7VnYZ2RVkdLW3sRzvM14Hv_0W5zQm4M7TFnBxW395_Xm8rFw0lN719v_jH5lsDN16v9LfK03sdW4gCrXv3hLhKSW7KWKV-6-W_m5W2_zvJ87qJ2cWW1GVPyf8qLfkBW2F-s8y3vGtNSW3DQHFr9ddMK338JR1) FlowBank Blog With UK inflation still over 10%, where next for GBPUSD? [big-benbig-ben-westminster-abbey-london-england (1)](113/cXx8Z04/VVCNyx6HjTFQW8zRB3t1F9r50V3Z50p4ZLMpxMJvQmh2-MJQV1-WJV7CgVc-W8_mYzs5fpmV6W152k603Qvw2NW1WkS8_8C4fVtW5Nbg8n4m1ZBXN8r2gG736-srW2XrBjW3FCHj8W12n_T76NjsPjW2XPwdK3pS4q0N7SnK1f4Wn8yW50XBSC1g3vrVW1PC_c44q6LftVbVRmY7ZkdsVVVfH886LwlrTW2cn8zp410sY-Vkwbc17kXWgzW6N9k653Dc1KPW3DvFZW83Rf9FW8kCtCq8BWcJj3npn1) The pound is the best-performing G10 currency this year, up around 3% against the US dollar since the start of the year, and it reached a 10-month high last week. In light of this week’s wage and inflation data, could the rally in Sterling continue? 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