Back to your Sugar Pops, Squeaky.
Europe Market Open: Chinese stabilisation efforts offset Wall St. pressure, RBA kept a hawkish tone
Published Tue, 06 Feb 2024 06:33:00 GMT
APAC stocks were somewhat mixed as Chinese market stabilisation efforts offset the early headwinds from Wall Street.
Fed SLOOS (Q4) noted that tighter standards and weaker demand were reported.
RBA kept rates unchanged at 4.35% as expected, while it reiterated that a further increase in interest rates cannot be ruled out.
European equity futures indicate a higher open with Euro Stoxx 50 future +0.4% after the cash market closed flat on Monday.
DXY remains at elevated levels, AUD outperforms post-RBA, USD/JPY stalled after climbing to fresh YTD highs.
Looking ahead, highlights include German Industrial Orders, EZ Retail Sales, Canadian Ivey PMI, NZ Jobs data, ECB Consumer Expectations Survey, Comments from Fed’s Mester, Harker, Kashkari, Collins & BoC's Macklem, Supply from Netherlands, UK & US, Earnings from BP, Infineon, UBS, BMPS, Eli Lily, Ford, GE Healthcare & Chipotle.
[snip]
APAC stocks were somewhat mixed as Chinese market stabilisation efforts offset the early headwinds from Wall Street where yields climbed to YTD highs after hot ISM Services data and recent hawkish Fed rhetoric.
Hang Seng and Shanghai Comp outperformed with sentiment boosted by China's latest market stabilisation efforts including reports China's sovereign fund will further increase ETF holdings, while the CSRC also encouraged listed firms to buy back more shares to inject more capital into the A-share market.
Moar, here: https://newsquawk.com/daily/article/?id=3408-europe-market-open-chinese-stabilisation-efforts-offset-wall-st-pressure-rba-kept-a-hawkish-tone
Jobs/Patronage Program, ergo "Regime Loyal "Voters"*.
*Although that need has been proven as just useless cover
EVs will never be, nor have they ever been, A Thing.
Piedmont Lithium lays off 27% of workforce amid weak prices
Feb 6th, 06:07:46
(Reuters) -U.S. miner Piedmont Lithium said on Tuesday it recently completed a 27% reduction in its workforce as part of a cost-cutting plan, amid a decline in the price of lithium.
The company said it expects to complete the majority of its cost saving initiatives by the end of the first quarter and aims to achieve about $10 million in annual savings. It had 40 employees as of Dec. 31, 2022.
In January, larger rival Albemarle had announced its intention to cut jobs and halt expansion in response to declining prices for the metal used in electric vehicle batteries.
https://PiQSuite.com/reuters/piedmont-lithium-lays-off-27-of-workforce-amid-weak-prices
Waldo Antennas?
That's an amazing stretch in academia. What'd you finally decide to major in, or did you have 25 separate majors?
Reminder on envious spammer.