Weekly Macro Matters
Macro Matters – Weekly review, w/c February 5
US stocks surged to record highs as strong earnings and a stellar employment report buoyed markets. The Fed dampened hopes for March rate cuts, while the Bank of England maintained a cautious stance. Key earnings from Microsoft, Meta, and Amazon exceeded expectations, and US job growth far outpaced forecasts.
TradeDay Macro Matters
Macroeconomic / Geopolitical Developments
• US Stocks Up Again: Major indexes reached new record highs, driven by Big Tech earnings and a strong employment report.
• Fed Dampens March Rate Cut Hopes: Powell signals a cautious approach to rate cuts, reducing market expectations.
• Bank of England Cautious: The BoE maintained interest rates amid a split in policymaker opinions.
• Earnings Recap: Microsoft, Meta, and Amazon delivered standout financial results.
• US Employment Report Far Better than Expected: January job creation exceeded forecasts, signaling labor market strength.
What’s Ahead
Central Bank Watch:
• Reserve Bank of Australia (RBA) Interest Rate Decision, Statement, and Press Conference.
• Ongoing focus on Fed speakers and their comments.
Macro Data Watch:
• Monday, February 5: Global Services and Composite PMI, US ISM Services PMI.
• Tuesday, February 6: RBA Interest Rate Decision, EU Retail Sales (MoM, YoY).
• Wednesday, February 7: No major data expected.
• Thursday, February 8: China CPI (MoM, YoY) and PPI (YoY).
• Friday, February 9: German Consumer Prices (MoM, YoY), Canada Employment Report.
Earnings Watch:
• Monday, February 5: McDonald’s, Caterpillar, Sony.
• Tuesday, February 6: Eli Lilly, Linde, Amgen.
• Wednesday, February 7: Walt Disney, Uber.
• Thursday, February 8: AstraZeneca, Philip Morris, S&P Global.
• Friday, February 9: Pepsi.
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