- U.S. index futures are trading up, although Microsoft shares fell more than 4% in after-hours trading despite strong quarterly results. Investors didn't like the lower than expected growth in business around Azure cloud computing.
- Meta Platforms, too, is limiting growth to 2% despite powerfully exceeding revenue and profit forecasts; losses at its Reality Labs division exceeded forecasts, and the company confirmed CAPEX of $60 to $65 billion for 2025.
- Tesla's shares are up 4% after hours, although we may find the company's results somewhat disappointing. IBM's stock is the strongest gainer; the company's shares rose nearly 9% after a surprisingly strong report. The US100 gains almost 0.3%, and the US500 and US30 were in slight positive territory.
- Volatility on Asian exchanges was very limited, with European index contracts trading slightly higher. Today, investors will learn about the ECB decision and listen to Christine Lagarde's conference; the baseline forecast points to a 25 basis point cut.
- Eurodollar loses slightly and is still trading above 1,041; US 10-year bond yields fell 3 basis points to 4.52% despite slightly more hawkish statements by Jerome Powell
- Powell emphasized the strength of the U.S. economy yesterday; however, he indicated that while inflation is forecast to fall further to its 2% target, the Fed will not decide to make further cuts until it sees encouraging data, giving policymakers enough confidence to act without fear of rebounding price pressures
- Agricultural commodities are down today, with brent and WTI crude oil contracts losing 0.5%. Natural gas contracts gain 0.5%. Gold rises a token 0.1% to $2,761 an ounce, silver adds 0.3% and platinum rises more than 0.8%.
- Australia’s import prices rose 0.2% QoQ in Q4, falling short of the 1.5% forecast but rebounding from the previous -1.4% decline. Export prices climbed 3.6% QoQ, exceeding expectations of a 2.4% rebound following the prior -4.3% drop. The ASX Index gained over 0.5%, supported by stronger bets on RBA rate cuts.
- BoJ Himino commented that 'if shocks, deflationary factors disappear, it's not normal for real rates to remain clearly negative for a prolonged period'. The USDJPY pair drops 0.45% today
- The Japanese giant SoftBank reportedly held talks with OpenAI regarding a potential $25 billion investment in the company. China has stated that the cyberattack targeting DeepSeek originated in the United States.
- The macro focus will be today on U.S. jobless claims and GDP data from the Eurozone and the United States. Results before the US session will be reported by CAT, Mastercard and UPS, among others. After the session, Apple, Visa and Intel will report
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