A light Shade of Green Shoots for Worldwide Economy:
• South Korean GDP Beat consensus on both Q/Q and Y/Y metric
• The CBI’s quarterly gauge of manufacturing optimism in the UK rose to +23 in Q1 2020, its highest level since Q2 2014. Export sentiment and investment intentions also improved
• Strong IPhone demand pushed apple to increase chip Production from YSMC this quarter(BBG)
The Whole pandemic scare that rattled markets has subsided a bit as China put Forth measures to Contain and hopefully stop spread of it. Shanghai stocks little changed, South Korea +1.2% and St9ocks in Hong Hong Closed +1.27%… U.S. earnings from IBM Stock +4.8% and Some positive comments from trump regarding new factories for tesla has that company higher By 3% helping U.S. futures with the bid, Nasdaq +60 handles .6% Spoos +12 Handles +.25%,Netflix Earnings in line to small miss but yet stock Unchanged.. Some earnings losers Johnson and Johnson stock down 1%. Yesterdays was a buying opportunity in stocks. Dax touched all time high today but stocks in Italy floundering a bit as Political worries showing their head once again. Gold in a narrow range overnight trading lower, Treasuries and Bunds and steady but palladium higher once again
Markets looking for a catalyst, No U.S. data today bank of Canada rate decision today and ECB decision tomorrow are expected to be a nonevents. Trump still in Davos but will departing sometime today.