From NASDAQ.:

Today’s market report shows a mixed finish in Asia-Pacific equity markets, with South Korea’s KOSPI falling 0.84%, Japan’s Nikkei declining 0.28%, and Taiwan’s TAIEX closing up 0.63%. European markets are also mixed, and U.S. equity futures point to a lower market open. Goldman Sachs has raised its S&P 500 target to 5,200, citing optimism for earnings in the technology and communication-services sectors.

The People’s Bank of China has cut its reference mortgage rate by 25 basis points to 3.95%, while the 1-year rate remained unchanged at 3.45%. The Reserve Bank of Australia considered raising interest rates but ultimately decided to maintain current settings. The European Commission is investigating TikTok over child content compliance, and the EU has launched a naval operation to protect ships in the Red Sea.

The Biden administration plans to ease limits on tailpipe emissions to accommodate automakers and labor unions. The U.S. proposed a UN Security Council resolution warning against an Israeli assault on Rafah in the southern Gaza Strip. In the markets, equities decreased on Friday in reaction to a hotter-than-expected producer price index.

In terms of stocks to watch, Barclays, Choice Hotels, Home Depot, and Walmart are among the companies expected to release quarterly earnings. Capital One Financial has agreed to acquire Discover Financial Services in a $35 billion all-stock deal, and GlobalFoundries will receive a $1.5 billion grant from the U.S. government to boost chip manufacturing.

Following today’s market close, Caesars Entertainment, Flowserve, Graphic Packaging, International Flavors & Fragrances, Medifast, Palo Alto Networks, and Teladoc are expected to report quarterly results. On the horizon on February 21, there are several economic reports and the FOMC meeting minutes, and on February 22, there are key economic releases such as the flash manufacturing & services PMIs, and the existing home sales report.



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