From Nasdaq:

Today’s market saw Asia-Pacific equity markets finish up across the board, with gains in Japan, Taiwan, China, Hong Kong, Australia, and South Korea. Meanwhile, major European markets are up except for Germany, and U.S. equity futures are pointing lower in anticipation of the February Employment Report. Expectations are for a sharp drop in non-farm payroll gains and slightly slower growth in average hourly earnings. Japan’s service sector, household budget trends, and corporate trends all showed increases in February, with the Eurozone economy expanding 0.1% YoY in the last quarter of 2023. Reports suggest China is planning to raise over $27 billion for a chip fund to counter US restrictions on chip access. In the domestic economy, the House committee advanced a bill that could lead to a nationwide ban on TikTok. Market sectors driving gains today include Consumer Discretionary, Technology, and Communications Services. Key market indicators year-to-date show gains across major indexes and cryptocurrencies. Shares of Kroger surged after a strong quarter, while Costco’s stock faced pressure despite beating EPS expectations. Broadcom and Marvell reported mixed results, with Broadcom’s revenue forecast in line with expectations and Marvell’s soft demand impacting revenue for Q1. Costco reported revenue growth of 5.7% YoY in the February quarter but fell short of consensus estimates. Gap’s stock also rose following better-than-expected Q4 earnings. IPO news includes Harry’s filing confidentially for an IPO with underwriters Goldman Sachs, JPMorgan, Barclays, and Wells Fargo. No earnings reports are expected after market close today. Looking ahead, key events next week include inflation data, small business optimism index, retail sales, and consumer sentiment index reports. The thought for the day is, “If you don’t fail, you’re not even trying.” – Denzel Washington.



Read more at Nasdaq:: Daily Markets: All Eyes on February Jobs