From Nasdaq, Inc.:

Most Asia-Pacific equity markets finished lower, with the exceptions of Taiwan’s TAIEX and Japan’s Nikkei. Major European markets are higher and U.S. equity futures are pointing to a lower open. Atlanta Fed’s GDPNow Model was at 4.2% for the current quarter. Several Fed officials are scheduled to speak on Monday.

The au Jibun Bank Japan Services PMI was revised higher to 53.1 in January, marking the 17th straight month of expansion. The Caixin China General Service PMI inched down to 52.7 but signaled a solid increase in service sector output. The HCOB Eurozone Services PMI fell to 48.4 in January, pointing to the sixth consecutive contraction. The S&P Global UK Services PMI rose to 54.3, the sharpest growth rate in eight months.

China vowed to stabilize markets after shares sank to a five-year low. The U.S. vowed more strikes against Iran’s forces if attacks on commercial ships continue, although President Joe Biden “is not looking for a wider war.”

S&P Global will publish its final January Services PMI, ISM will release its January Non-Manufacturing Index, and the Federal Reserve Senior Loan Officer Survey (SLOOS) report will be issued. Meta Platforms’ 20.32% rise fueled by earnings pushed Communication Services ahead 4.02% while Amazon’s 7.87% gain helped the Consumer Discretionary sector add 1.79%.

Caterpillar (CAT), Estee Lauder (EL), McDonald’s (MCD), On Semiconductor (ON), and Tyson Foods (TSN) are expected to release quarterly earnings before equities begin trading later this morning. Pre-market breadth is a little wider today as 286 names in the S&P 500 have traded hands so far this morning with 99 gainers and 187 decliners.

The market is expected to price three IPO offerings this week – American Healthcare REIT (AHR), Kyverna Therapeutics (KYTC), and the Fortega Group (TFG). After today’s market close, Chegg (CHGG), NXP Semiconductor (NXPI), Palantir Technologies (PLTR), and Simon Prosperities (SPG) are expected to report quarterly results.



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