Look ahead: UK consumer confidence; German business morale; Allianz; Standard Chartered
Standard Chartered joins the banks earnings wave in a week when we’ve heard from Lloyds, HSBC and Barclays. Look out for the latest confidence print on the UK consumer and German business. Plus, Allianz reports FY earnings.
(AI VIdeo Summary)
NVIDIA tops earnings expectations, and FOMC minutes show rate cuts pushed back
In this video, Angeline Ong gives an overview of the important events and financial reports that will take place on 23 February. She starts off by mentioning some big news in the trading world, such as NVIDIA's earnings and the FOMC Minutes. These minutes reveal that the Fed is not in a hurry to lower interest rates, which has caused market expectations for a rate cut to be pushed back to June.
Important market data updates
Ong also highlights some economic releases to pay attention to, such as the GFK Consumer Confidence print from the UK and Germany's Q4 GDP growth rate. These figures are important because they give insight into the strength of the economy in those countries.
She also mentions the EFOL Business Climate Reading, which is of interest because recent PMI numbers suggest that the business climate is improving. This could have an impact on the stock market.
Updates on oil
Another thing to watch closely is the Baker Hughes oil rig count. Oil prices are currently affected more by supply than demand, so any changes in the rig count could impact prices. Weak demand from China has been putting pressure on oil prices, so this is something to keep an eye on.
Banks and companies' earnings reports
Lastly, Ong discusses some earnings reports. Standard Chartered is set to release its four-year earnings, following other banks like Barclays, Lloyds, and HSBC. Investors have been particularly interested in HSBC's announcement about China. Ong shows a chart of Standard Chartered stock and points out a downward trend, but notes that if it breaks through a certain level of support with higher trading volumes, the downward trend could continue.
She also talks about Allianz, a company that is releasing its full-year earnings report. Ong shows a chart of Allianz stock and highlights an upward trend line that was broken in October but later recovered. If the stock reaches a third high, it could indicate that the upward trend is still intact.
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