US indices finished yesterday’s session sharply lower. S&P 500 fell 2.44%, Dow Jones moved 1.45% lower, Nasdaq plunged 3.74% while Russell 2000 fell 1.97%
However US equity futures recouped some losses in Asian trade amid strong quarterly reports from tech names including Amazon, Snap and Pinterest
Positive moods prevail in Asia. Nikkei rose 0.66%, S&P/ASX 200 gain 0.59%, while Kospi jumped 1.35%. Liquidity was limited due to Chinese Lunar New Year
DAX futures point to a higher opening of the European cash session today
Amazon (AMZN.US) released earnings per share at 5.80 USD, compared to market expectations of 3.63 USD. Revenue: $137.4 billion vs $137.6 billion expected. Company reported a gain of almost $12 billion from its investment in electric vehicle company Rivian.
RBA kept rates at 0.1% and finished its bond buying program, as widely expected, but governor Philip Lowe reiterated that the bank will stay patient on moving policy.
Citi expects “the sequential trend of quarterly global stock draws will flip to inventory builds as soon as 2Q’22, and sustain for the next 15-18 months”
BOJ Gov Kuroda says Japanese consumer inflation is weaker than that in the US and Europe
The Japanese government is looking at diverting some supplies of gas to Europe
US is imposing visa restrictions on multiple Belarusian nationals
IMF says its too early to say world is facing an era of sustained inflation
Cryptocurrencies are trading higher today. Bitcoin jumped above $37,700 while Ethereum trades above $2,780
Precious metals and oil prices rose slightly
EUR and NZD are the best performing major currencies while CAD and GBP lag the most