From Nasdaq, Inc.:

Asia-Pacific equity markets saw mixed results today, with Japan hitting generational highs despite slipping into a recession. Taiwan soared to an all-time high, while China remains closed for the Lunar New Year. In Europe, markets are mostly up. January’s Retail Sales Report showed a sharp drop in consumer spending, exceeding expectations and impacting GDP forecasts.

Internationally, Japan’s economy unexpectedly contracted 0.4% in Q4 2023. The UK saw a GDP decline in Q4, while China plans to regulate AI technologies. In the US, today’s data includes Retail Sales, Industrial Production, jobless claims, and housing market figures.

In terms of the markets, all major indexes were up, with strong gains in sectors like Industrials and mega-caps. IQVIA Holdings came out on top with a 13.10% gain. Year-to-date indicators show market performance for major indices and cryptocurrencies.

Earnings to watch before equities open include companies like Wendy’s and Deere. Companies like Snap-On Incorporated and EPAM Systems are set to open at least 4% higher, while Cisco issues downside guidance and announces job cuts.

Some companies struggled in after-market trading, like Fastly and Twilio, while Nu Skin’s revenue and guidance fell short. Elon Musk holds a 20.5% stake in Tesla, and Nvidia has invested in several companies. Japanese chip company Renesas Electronics agrees to acquire software company Altium Limited for $5.91 billion.

After market close today, several companies, including Coinbase, DoorDash, and Roku, are expected to report quarterly results. Tomorrow’s data includes UK Retail Sales and US Producer Price Index, Housing Starts & Building Permits, and the University of Michigan Consumer Sentiment Index.



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