TOP MARKETS NEWS: Week 02/27 – 03/05

February 27, 2023
  

Weekend 03/04 & 03/05

China to Boost Defense Budget; EV Chiefs Give Advice: NPC Update – bbg
China People’s Congress Reveals Conservative GDP Target Of Just 5% For 2023 – bbg

Saudi Arabia Raises Oil Prices for Asia and Europe for April – bbg
Forget Peak Oil Demand: A Thirst for Barrels Puts $100 in View – bbg
China Defense Spending to Rise 7.2%, Fastest Pace in Four Years – bbg
China Vows to Rein in ‘Unregulated’ Expansion in Property Market – bbg
China’s Central Government to Borrow More: 2023 Budget Details – bbg
China Sets Slightly Lower Annual GDP Growth Target – Government Report – Reuters
China sets modest growth target, expands defense budget – dw
China Sets Modest Growth Target as Economic Risks Persist – bbg
Economists See China’s ‘Conservative’ GDP Goal a Sign of Caution – bbg

US Jobs Report and Powell Testimony Take Center Stage: Eco Week – bbg
Japanese Unions Seek Biggest Pay Rise in 25 Years for Workers – bbg
Japan Unions Ask Average 4.5% Wage Hike, Biggest Since 1990s – Reuters
This Week in China: Xi Has a Shot at Restoring Market Confidence – bbg


Friday 03/03

Business Live – guardian
Take Five: A Manic March – Reuters

Wall Street Closes Sharply Higher, Notches Weekly Gains as Treasury Yields Ease – Reuters
Stocks close higher Friday, Dow breaks 4-week losing streak as 10-year Treasury yield retreats – cnbc
Retailers Fear High-Flying US Consumers Are Falling to Earth – bbg
AI Stocks Surge as Investors Bet on Growth Prospects – Reuters
Stocks making the biggest moves midday: Apple, Meta, Costco, Marvell, C3.ai and more – cnbc
Meta announces big price cuts for its VR headsets – cnbc
Fed ‘Acutely Aware’ of Trouble Inflation Is Causing – Report – Reuters
Stock Traders Are Ignoring Blaring Bond Alarms – bbg
Fed Says More Rate Hikes Are Needed to Curb Inflation – bbg
US Services Sector Grows Steadily; Prices Stubbornly High – Reuters
US Service Sector Expands More Than Forecast Suggesting Hiring Success – bbg

Marketmind: Inflation ‘Blip’ or Brave New World? – Reuters

Volkswagen’s 2023 Sales Outlook Blows Past Forecast, Shares Soar – Reuters
VW Jumps After Forecasting Sales Surge on Order Backlog – bbg
Analysis-Sharp Drop in Equity Premium May Mark Return of 60/40 Portfolio – Reuters
Microsoft and Alphabet Fail to Show at the AI Party – bbg
BofA Strategists See Cash Back in Vogue With Markets on Edge – bbg
Tesla China Sales Rise as Key Executives Dismiss Demand Concerns – bbg
Tesla Sold 74,402 China-Made EVs in February, up 32% Y/y – Reuters
Morgan Stanley Sees ECB Rates Peaking at 4% on Core Inflation – bbg
Euro Zone Producer Prices Fall Due to Energy, as Other Goods Rise – Reuters
Euro Zone Recovery Gathers Pace, Allays Fears of Recession-PMI – Reuters
Why Inflation May Not Be Heading Back to 2% – bbg
Rates Market Overshoot – or No Man’s Land? :Mike Dolan – Reuters
Bitcoin Slides With Wider Crypto Markets Amid Silvergate Fallout – bbg
European Stocks Rise on Fed Relief, China Demand Rebound – Reuters
Europe markets climb as investors digest Fed comments, inflation data – cnbc

Asia markets rise as private survey shows sharp recovery in China services – cnbc
This Week in China: Xi Has a Shot at Restoring Market Confidence – bbg
Chinese stocks often gain after the country’s annual congress meeting. Here’s what strategists expect this year – cnbc
Japan’s Key Bond Yield Rises Above 0.5% BOJ Ceiling Once More – bbg
China Feb Services Activity Jumps Sharply as Demand Recovers Caixin PMI – Reuters

Asia Stocks Set to Rise After Wall Street Reversal: Markets Wrap – bbg

 

Thursday 03/02

Business Live – guardian
Nomura Is First Bank To Call For 50bps Rate Hike In March – Zerohedge

Stocks making the biggest moves after hours: C3.ai, Zscaler, ChargePoint, Marvell Technology and more – cnbc
Costco Wholesale Misses Quarterly Revenue Estimates – Reuters
Nordstrom Sees Weak Annual Revenue as Inflation-Hit Consumers Curb Spending – Reuters
Nordstrom earnings top expectations, retailer says it’s winding down Canada operations – cnbc
Dell Revenue Beats as Server, Network Demand Offsets PC Weakness – Reuters
Stocks Gain as Bostic Backs Quarter-Point Hike – Reuters
Bostic Batters Stock Bears But Bond Yields Soar After Record Inflation – Zerohedge
Stocks close higher, Dow gains 300 points as Fed’s Bostic spurs relief rally – cnbc
Dan Loeb Takes Passive Stake In AMD, Stock Jumps – Zerohedge
Mortgage rates jump back over 7% as inflation fears drive yields higher – cnbc
“Tape Is Nearing Max Frustration”: JPM Trading Desk Warns Break Below 3900 Could Spark Global Selloff – Zerohedge
Bostic: Quarter-Point US Rate Increases Best to Limit Risk to Economy – Reuters
Fed’s Bostic Open to Seeking Higher Rate Peak If Data Stays Hot – bbg
Major Central Banks Return to Inflation Fight in February – Reuters
Tesla says it will halve the cost of its next generation of EVs – fortune
ECB confronts a cold reality: companies are cashing in on inflation – Reuters
Factbox-Silvergate Crisis: Crypto Industry Majors Drop Embattled Lender – Reuters
Stocks making the biggest moves midday: Silvergate Capital, Salesforce, Macy’s, Okta and more – cnbc

 

US PREMARKET
Jobless Claims Improve (Again) As Labor Costs Soar More Than Expected – Zerohedge
US Jobless Claims Edge Lower in Sign of Strong Labor Market – bbg
US Fourth-Quarter Labor Costs Revised Higher; Productivity Growth Lowered – Reuters
Lithium Miner SQM Counters Goldman Pesimism With Upbeat Outlook – bbg
Futures Slide After Tesla Disappoints, Treasury Yields Jump To 4 Month High – Zerohedge
Entire Treasury Market Yields at Least 4%, Now Including 30-Year – bbg
Stocks making the biggest moves before the bell: Salesforce, Best Buy, Macy’s and more – cnbc
US Retailers, Best Buy Tout Health Services – Reuters
Kroger’s Upbeat Annual Profit View Surprises Wall Street – Reuters
Macy’s Gives Upbeat Profit Forecast Amid Retail Gloom, Shares Surge – Reuters
Macy’s Rises on Earnings Beat, Strong Full-Year Outlook – bbg
Minutes of ECB’s February meeting show determination to hike rates beyond March – ing
ECB Dismissed Overtightening Worry as Core Inflation Debated – bbg
QE Was a Giant Debt Swap. Now Governments Are on the Wrong End – bbg
Euro Zone’s Underlying Price Surge Is Now Key ECB Battleground – bbg
Core EU Inflation Unexpectedly Surges To New Record High – Zerohedge
Euro-Zone Inflation Barely Slows as Core Gauge Hits Record – bbg
Euro Zone Inflation Eases in February but Core Prices Surge – Reuters
Euro area annual inflation down to 8.5% – europa
Budweiser APAC Bets on Post-COVID China Thirst for Premium Beer – Reuters
Fitch Sees Recession Coming in Germany, Italy Later This Year – bbg
ECB Confronts a Cold Reality: Companies Are Cashing in on Inflation – Reuters
G-20 Latest: Tensions on War Wording; Japan’s Top Envoy Absent – bbg
Credit ETFs Hammered by Record Outflows of Almost $12 Billion – bbg
Silvergate’s Worsening Crypto Losses Feed Watchdogs’ Worst Fears – bbg
Musk’s ‘Master Plan’ for Tesla Built Around Sustainable Energy World – bbg
European markets head for a slightly higher open with euro zone inflation data ahead – cnbc

Marketmind: Ten-Four, Treasury Yields Soar – Reuters
Marketmind: EU Inflation Risks Loom Large for Markets – Reuters

ASIA NEWS
Asia-Pacific markets mostly decline as investors brace for further hikes ahead – cnbc
Lazard Says TSMC Is a Top Stock After Buffett Abruptly Dumped It – bbg
China’s Commodities Eye Banner Year as Focus Shifts to Stimulus – bbg
BOJ Is Said to Prefer Watching Impact of Earlier Tweaks For Now – bbg
China’s recovery is not much of a surprise – ing
Exclusive-China Increasingly Ambitious With 2023 Growth Target, May Aim for up to 6%-Sources – Reuters
Danger Looms for Yuan Bears With Approach of ‘Two Sessions’ – caixinglobal
South Korea’s Chip Inventory Climbs at Fastest Pace in 27 Years – bbg


Wednesday 03/01

Business Live – guardian
February was a rough month for just about everything – forexlive
These Were The Best And Worst Performing Assets In February And YTD – Zerohedge

Stocks making the biggest moves after hours: Silvergate Capital, Salesforce, Snowflake, Okta and more – cnbc
Snowflake Outlook Misses With Cloud Spending Under Pressure – bbg
Salesforce Forecasts Upbeat Quarterly Revenue on Cloud Boost – Reuters
Salesforce shares jump 13% after software company issues full-year forecast that beat estimates – cnbc
Stocks and Bonds take a hit on hawkish Fed bets after Kashkari and ISM – Newsquawk US Market Wrap
Bitcoin & Bullion Jump, Bonds & Big-Tech Dump As Stagflation Signs Soar – Zerohedge
S&P 500 and Nasdaq close lower to begin March as the 10-year Treasury yield touches 4% – cnbc
Goldman Warns Carmakers Against Buying Miners: ‘It Always End in Tears’ – bbg
Oil edges up as record U.S. crude exports offset stock build – investing
Stocks making the biggest moves midday: Lowe’s, 3M, First Horizon, Nio and more – cnbc
Analysis-Watch Out Risk Assets, the Rout in Bonds Is Coming Your Way – Reuters
European Shares Kick off March Lower as BNP Paribas Slides – Reuters
Treasury 10-Year Yield Tops 4% as Bets on Fed Rate Peak Increase – bbg
US Manufacturing Surveys Signal Stagflation Resurgence In February – Zerohedge
US Manufacturing Shrinks at Slower Pace; Prices Gauge Jumps – bbg
Fed’s Kashkari Open-Minded on Quarter- or Half-Point March Hike – bbg

Marketmind: Markets March on China Boomlet – Reuters

 

US PREMARKET
Stocks making the biggest moves premarket: Rivian, Kohl’s, Novavax and more – cnbc
Futures Rebound As China Economy Roars Back, Dollar Tumbles – Zerohedge
Dollar Tree Sees Weak 2023 Profit as Costs Mount, Shoppers Curb Spending – Reuters
Lowe’s Warns of Dull 2023 Sales as Home Improvement Market Likely to Shrink – Reuters
Nio reports soft results, says 2023 focus is on execution efficiency; stock steady – investing
Fading Hopes of a Fed Cut Wipes Record $327 Billion From Bonds – bbg
How Much Longer Before The “Most Aggressive Hiking Cycle In History” Triggers The Recession – Zerohedge
Forget Chatbots, This Is How Corporate America Is Really Using AI – bbg
German Inflation Unexpectedly Quickens in Fresh Blow for ECB – bbg
Euro Zone Factory Output Returned to Growth in February -PMI – Reuters
German Manufacturing Activity Remains Weak in Feb but Some Encouraging Signs -PMI – Reuters
Inflation Resurgence Will Reignite The Value Trade – Zerohedge
France’s Manufacturing Sector Shrinks in Feb as Export Demand Weakens -PMI – Reuters
FRANCE: Manufacturing output falls at fastest rate since Oct’2022 as demand conditions worsen – pmispg
Durex and Strepsils Maker Reckitt Says Cost Inflation Has Peaked – bbg
European Investors Riding Buyback Boom Face Risk of Pullback – bbg
European markets head for modestly higher open, continuing muted trend seen this week – cnbc

Marketmind: Brisk China Activity Sets the Mood – Reuters

 

Hong Kong stocks rise 3%; China’s factory activity reading hits highest level since 2012 – cnbc
China Leaders Surprised by Pace of Economy’s Rebound – bbg
Chinese Stocks Rebound After Terrible Month on Upbeat Data – bbg
China’s Growth Target, Stimulus in Focus for New Leadership – bbg
Peaking Inflation Risks Are Sending Japan Investors a Curveball – bbg
Here’s how much economists expect China’s GDP to grow this year – cnbc
US Firms Turn More Negative on China as Economy, Tensions Bite – bbg
China’s Factories Storm Ahead as Rest of Asia Stalls – Reuters
Asia’s Factories Gather Some Speed on China Reopening Boost – bbg
China’s solid PMIs hint at a high GDP target at the Two Sessions – ing
China Feb Non-Manufacturing Activity Extends Growth – Official PMI – Reuters
China Factory Activity Surges to Decade High, Boosting Recovery – bbg
China’s factory activity grows further, marks its highest reading in nearly 11 years – cnbc
China Telcos Jump on Bets AI Services Will Drive Cloud Computing – bbg
China Home Sales Rise for First Time in 20 Months on Policy Aid – bbg
Yen at Risk of Being Dragged Down by Japan’s Sputtering Exports – bbg
Japan Factory Activity Shrinks the Most in 2-1/2 Years – Reuters

Asia Stocks Set for Cautious Open; Yields Climb: Markets Wrap – bbg

 

Tuesday 02/28

Business Live – guardian
Factbox-Fed Rate Watch: Wall Street Banks See Longer Hike Cycle, Higher Rates – Reuters

Stocks making the biggest moves after the bell: Novavax, First Solar, Rivian and more – cnbc
Rivian Slumps With Full-Year Output Forecast 25% Below Estimates – bbg
Rivian posts mixed fourth quarter and underwhelming EV production outlook, stock falls – cnbc
Novavax Falls After Citing ‘Substantial Doubt’ About Financial Future – bbg
Virgin Galactic completes lengthy upgrade process ahead of resuming spaceflights – cnbc
HP Maintains Cash-Flow Outlook Even as PC Demand Craters – bbg
Dollar and USTs gain as stocks dip into month-end and weak US data – Newsquawk US Market Wrap
Formidable Feb Data F**ks Bond Bulls As ‘Fed Pivot’ Puke Punks Stocks, Commodities – Zerohedge
Dow closes more than 200 points lower Tuesday, major averages end February with losses – cnbc
Bond Binge Pushes US Corporate Debt Sales to Record Start – bbg
SPAC Mania Ends In Bankruptcies And Fire Sales – Zerohedge
Stocks making the biggest moves midday: Norwegian Cruise Line, Target, Advance Auto Parts and more – cnbc
A Day In The Life Of A 0DTE Option – Zerohedge
Tesla’s Ripping Rally Puts It Back on Track for Top Five Ranking – bbg
Tesla’s first Investor day on March 1st: what to expect – carnow
Don’t Be Fooled, US Stocks Are Still Far From Cheap – Zerohedge
March Madness Could Be in Store for Markets After a Somber February – Reuters
US Consumer Confidence Drops on More Pessimistic Outlook – bbg
U.S. Consumer Confidence Retreats, House Price Inflation Cools Further – Reuters
U.S. House Price Inflation Cools Further in December – Reuters
US Housing Cools Further, With Prices Down 2.7% from June Peak – bbg

 

US PREMARKET
S&P Futures Rise Above 4,000 On Last Day Of Turbulent Month – Zerohedge
Fed Might Raise Policy Rates to 6% – BofA – Reuters
Norwegian Cruise’s Rocky Forecast After Revenue Beat Hits Shares – Reuters
Target Tempers Strong Fourth Quarter With Cautious Forecast – bbg
Target Fends off Holiday Gloom With Discounts, Warns on 2023 Earnings – Reuters
Chevron Boosts Annual Share Buyback Rate to $17.5 Billion – bbg
Tesla’s China Sales Slow as Price-Cut Boost Wanes – Reuters
Citi Strategists Say Traders Are Piling Up Short Bets on Stocks – bbg
ECB Rate-Hike Odds Soar After French, Spanish Inflation Re-Surges – Zerohedge
Unexpected Inflation Jump Adds to ECB Headache – Reuters
Spanish headline and core inflation rise again – ing
Spain’s Inflation Resumes Upward Trend, Rises to 6.1% in February – Reuters
France: Inflation continues to rise while consumption rebounds slightly – ing
French Inflation Hits Record, Heaping Pressure on ECB and Macron – bbg
Santander Pledges Higher Payouts in Race to Lure Investors – bbg
Spain’s Santander Raises Three-Year Profitability Target to 15%-17% – Reuters
Money Markets Fully Price 4% Peak ECB Rate For The First Time – bbg
Abrdn Assets Drop to Record Low As Outflows Continued in Autumn – bbg
Bayer Forecasts Slower Growth as Glyphosate Prices Fall – bbg
Bayer Sees Lower 2023 Operating Profit on Cost Inflation – Reuters
European markets head for a positive open, tracking modest gains on Wall Street – cnbc


Marketmind: Market Mood Downbeat Ahead of Raft of Data – Reuters

ASIA NEWS
Asia markets largely higher as Hong Kong announces to lift mask mandate, Japan’s factory output falls – cnbc
Asian Tourism Stocks Rise as Pandemic Travel Restrictions Ease – bbg
China’s Communist Party Cautious on Economy, Reiterates Party’s Leadership – Reuters
Hong Kong Ends One of World’s Longest Mask Mandates After 945 Days – bbg
US Hedge Funds’ Selling of Chinese Stocks Picks Up in February – bbg
Key Gauge of Yen Positioning Flips Bullish Amid BOJ Policy Bets – bbg

Asia Stocks Set to Rise After Gains on Wall Street: Markets Wrap – bbg
Marketmind: Scope for a Month-End Bounce in Asia – Reuters

Key EventsThis Week: The Quiet Before Payrolls – Zerohedge

 


Monday 02/27

Business Live – guardian

Stocks making the biggest moves after hours: Zoom Video, Occidental Petroleum, Workday and more – cnbc
Zoom Gains After Profit Outlook Beats Analysts’ Estimates – bbg
Zoom shares jump on better-than-expected fourth-quarter results – cnbc
Stocks and Bonds rise into month-end ahead of a plethora of Fed speak – Newsquawk US Market Wrap
Stocks & Bonds Rally Despite Rising Terminal-Rate & Inflation Expectations – Zerohedge
Stocks close higher following worst week of 2023, major indexes are on track to end February with declines – cnbc
Cash-Like ETF Attracts $2.5 Billion in Biggest Haul Since 2020 – bbg
Stocks making the biggest moves midday: Union Pacific, Fisker, Tesla, Zillow and more – cnbc
UK Says BOE Losses on QT May Mean £200 Billion Hit for Taxpayers – bbg
The Fed Doesn’t Care About Wall Street as Much as Wall Street Thinks – bbg
Snap to Roll Out Chatbot Powered by OpenAI’s ChatGPT – Reuters


US PREMARKET
US Durable Goods Orders Plunged Most Since COVID Lockdowns In January – Zerohedge
Stocks making the biggest moves premarket: Best Buy, Seagen, Union Pacific and more – cnbc
Futures Rebound After Worst Week Of 2023 – Zerohedge
Li Auto First-Quarter Sales Forecast Soars on Expanded EV Lineup – bbg
Analysis-European Stocks Lure Global Investors as Rate Hikes Hurt U.S. More – Reuters
Five Key Charts to Watch in Global Commodity Markets This Week – bbg
Traders Bet on Longer ECB Rate-Hike Cycle With Peak Seen in 2024 – bbg
Vitol Chief Sees Oil at $90-$100 in the Second Half of the Year – bbg
London’s Oil Party Week Is Back With Talk of a Coming Rally – bbg
European markets set to start the new trading week on a positive note – cnbc

Marketmind: Long March Ahead – Reuters
Marketmind: It’s All About Inflation – Reuters


Asia markets mixed after Wall Street logs worst week for the year – cnbc
Yen Poised To Head Higher Again As BOJ Nears Bond-Buying Limits – Zerohedge
Ueda Says Benefits of BOJ Stimulus Outweigh Side Effects – bbg
Incoming BOJ Head Says He Has Ideas on Exit From Ultra-Easy Policy – Reuters
Foreigners Cap Longest Buying Streak in Japan Stocks Since 2019 – bbg
Exclusive-JPMorgan Proposes New Asia Credit Index With Lower China Weighting -Sources – Reuters
Goldman Sees Modest Yen Weakness From US Rates Despite BOJ Bets – bbg
Toyota Global Sales Dipped in January, Even as Production Grew – bbg
The Rally in China’s Technology Stocks is Fading Fast – bbg
Foreigners Cap Longest Buying Streak in Japan Stocks Since 2019 – bbg
China’s Earnings Season to Reveal Aftermath of Abrupt Reopening – bbg
China’s Uneven Recovery Continues With Industrial Sector Lagging – bbg

Asia Stocks to Fall as Traders Reprice Rates Path: Markets Wrap – bbg
Target, Macy’s, Salesforce, Kroger, Zoom: US Earnings Week Ahead – bbg

 

 

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