January 17, 2023
United States:
Stocks Slide as Big Banks Herald Earnings Jitters: Markets Wrap
US stock-index futures fell amid signs central banks will turn more hawkish and as Wall Street banks from Goldman Sachs Group Inc. to Morgan Stanley posted disappointing results.
Contracts on the S&P 500 and Nasdaq 100 indexes slipped at least 0.2% each as US traders returned from a holiday. Goldman slid in premarket New York trading after posting fourth-quarter net revenue below expecations. Morgan Stanley slipped after lower-than-projected equities trading revenue. Whirlpool Corp. fell as sales numbers missed. Freeport-McMoRan Inc. declined amid a muted demand outlook for copper.
Europe:
German Investor Sentiment Hits Highest Level in Almost a Year
Investors’ sentiment for the German economy jumped to the highest level in almost a year, the latest evidence that confidence is building as a squeeze from soaring energy prices eases.
The ZEW institute’s gauge of expectations rose to 16.9 in January from -23.3 in the previous month — better than any estimate in a Bloomberg survey of 27 economists. That reading means the gauge is now near its 10-year average.
Asia:
China Faces Bumpy Recovery as Economy Emerges from Covid Zero
China’s economy proved more resilient than analysts forecast as a virus wave swept the nation, suggesting the worst of the slump may be over as a challenging recovery begins.
While gross domestic product growth of 3% last year was the second slowest pace since the 1970s, fourth quarter and December data came in better than economists had expected.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.