From NASDAQ MarketSite.:

Asia-Pacific equity markets mostly closed lower, except for South Korea’s KOSPI. European markets are mixed, and U.S. futures point to a lower open. Investors are cautious ahead of key economic data this week, potentially leading to revisions to the Fed’s Economic Projections. The Euro Area’s economic sentiment fell in February, while consumer confidence and inflation expectations increased. The second look at 4Q 2023 GDP is expected to show a slower YoY growth rate of +3.3%. In the markets, Energy and Healthcare sectors declined, while Utilities saw gains.

In other news, Apple is ending its electric car project to focus on AI applications. Unionized Starbucks workers will receive pay hikes, and Beyond Meat exceeded revenue expectations for the December quarter. Agilent Technologies reported better-than-expected earnings but fell short on revenue outlook. Lemonade issued downside guidance, and Bumble’s revenue growth forecast was below consensus. IPOs from AMC Entertainment, C3.ai, Salesforce, and others are expected to report quarterly results after market close. Upcoming economic data includes U.S. PCE Price Index and Manufacturing PMI reports on Thursday and Friday.



Read more at NASDAQ MarketSite.:: Daily Markets: Will Data Dependency Dampen AI Euphoria?