From Nasdaq, Inc.:

Asian-Pacific equity markets closed higher except for China’s Shanghai Composite, which fell 0.92%. European markets are mixed, U.S. equity futures are pointing to a positive start with S&P 500 futures flirting with a flat open. This week brings over 650 earnings reports, start of the month economic data, and the Fed’s monetary policy meeting.

China’s industrial profits fell 2.3% YoY to CNY 7,685.83 billion in 2023, but December saw a 16.8% YoY gain. The world’s most indebted property developer, China Evergrande, was ordered to liquidate by a Hong Kong court, potentially sending shockwaves through Chinese markets.

Oil prices are rising after a drone strike by Iran-backed Houthi terrorists killed three U.S. service members. The Biden administration is expected to award subsidies to semiconductor firms for new factories. The U.S. wants cloud services providers to investigate foreign clients developing AI applications, escalating tensions with China.

Shares of Intel fell 11.91% on Friday, leading to sympathy selling and causing Technology, S&P 500, and Nasdaq Composite to fall. Despite a Q4 earnings miss, American Express shares closed 7.10% higher as the company provided an optimistic outlook for 2024. Here’s how the major market indicators stack up year-to-date. Dow Jones Industrial Average: 1.11%, S&P 500: 2.54%, Nasdaq Composite: 2.96%, Russell 2000: -2.40%, Bitcoin (BTC-USD): -0.28%, Ether (ETH-USD): -1.23%

Phillips and SoFi Technologies are expected to release quarterly earnings before equities begin trading. Tesla disclosed that it expects its expenditures to exceed $10.00 billion in 2024. The U.S. approved the sale of new F-16 fighter jets to Turkey after the Turkish government ratified Sweden’s accession to NATO. Lockheed Martin announced it will cut 1% of its jobs this year. Ryanair Holdings narrowed its fiscal 2024 profit forecast. Philips will not sell new sleep therapy devices or other respiratory care devices in the U.S. until the company meets FDA requirements. WillScot Mobile Mini agreed to acquire B2B rental company McGrath RentCorp.

Reddit is looking for a mid-single-digit billion valuation in a stock market debut. Cleveland Cliffs, F5 Networks, Nucor, Super Micro Computer, and Whirlpool are expected to report quarterly results after equities stop trading today.

Upcoming events include the Bank of England Consumer Credit report, Eurozone flash 4Q 2023 GDP, US FHFA Housing Price Index, S&P Case Shiller Home Price Index, JOLTS Job Openings Report, and more on January 30th. On January 31st, Japan will release Industrial Production, Retail Sales, and Housing Starts data while the US will release the ADP Employment Change Report and Weekly EIA Crude Oil Inventories.



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