(AI Video Summary)
Equity markets in Europe are expected to start on a positive note today. This week, keep an eye on the US and UK inflation figures as they are crucial data points. The price of oil has gone down because Iran’s foreign minister has hinted at a possible peaceful resolution to the Israel-Hamas conflict. While there are fewer companies reporting their earnings this week, it’s important to pay attention to key players like Coca-Cola, Cisco, and NatWest.
When we look at the market volatility, it has been relatively calm since February 5th but is slightly higher today. European markets closed slightly lower on Friday, where technology stocks went up but food and beverages stocks went down. Don’t forget to keep an eye on UK inflation, Germany’s Zoe index, and UK gross domestic product (GDP) growth rate, as they are significant economic indicators this week.
In Asia-Pacific, markets were mixed due to the Lunar New Year holidays. However, Japan’s Nikkei reached a remarkable 34-year high, and investors are eagerly awaiting Japan’s GDP data. On the other side of the world, the US market saw a milestone as the S&P 500 crossed the 5,000 mark for the first time. In pre-market trading, the US markets are currently steady, with investors focusing on US inflation data, retail sales, and earnings reports.
This week, there are several important economic events to watch out for. Australia’sWestpac consumer confidence data is expected to decline. In the UK, keep an eye on the unemployment data, consumer price data, and GDP growth rate figures. German Zoe indicator of economic sentiment is expected to rise, and in the US, CPI data will be released.
As for company earnings, we have a number of big names reporting, such as TUI, Coca-Cola, Airbnb, Lyft, Robinhood Markets, Cisco, Kraft Heinz, Coinbase, Dunelm, and NatWest. The price of oil has gone down due to the possibility of a diplomatic solution to the Israel-Hamas conflict.
Overall, trading has been muted with Asian markets closed for the Lunar New Year celebrations. To stay updated on market trends and updates throughout the day, it’s a good idea to follow social media platforms for market insights.