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According to the Wall Street Journal: Spotify (SPOT.N) is about to launch a physical book.February 5th - Ahead of the Bank of Englands interest rate decision, the yield on 2-year UK government bonds edged lower. The market expects the Bank of England to keep interest rates unchanged at 3.75%. Investors will be watching for any signals from the central bank indicating a possible rate cut in the coming months. Tradeweb data shows that the yield on 2-year UK government bonds fell 2 basis points to 3.708%.On February 5th, Citigroup analysts Andrew M. Gardiner and Daniel Schafei stated in a report that Arms (ARM.O) third-quarter results showed progress in expanding its AI data center market, but also highlighted the need for continued investment. The company believes there are still more opportunities for growth. However, analysts pointed out that short-term pressure on smartphone revenue and the high costs required to support long-term strategic development remain key risk factors for investors. The analysts stated, "We believe that R&D costs have largely been priced into market expectations, and as cloud royalties surpass mobile revenue by the end of this decade, revenue upside will gradually become apparent, supporting our forecast of higher-than-consensus revenue for fiscal years 2028-2030."Volvo Cars shares fell to their lowest level since October 2025, a drop of 25%.On February 5th, Ministry of Commerce spokesperson He Yadong stated that in recent years, under the strategic guidance of the two heads of state, political mutual trust between China and Uruguay has deepened, and cooperation in various fields has steadily progressed. China has remained Uruguays largest trading partner for over a decade. China will work with Uruguay to implement the important consensus reached by the two heads of state, make good use of mechanisms such as the Bilateral Joint Commission on Economic and Trade Cooperation, and promote the improvement, efficiency, and deepening of China-Uruguay economic and trade cooperation. At the Ministry of Commerces regular press conference that day, a reporter asked: Uruguayan President Orsi visited China, leading a large business delegation composed of entrepreneurs. What important progress has been made in economic and trade relations? He Yadong explained that during the visit, the two heads of state held talks, pointing the way for the development of bilateral economic and trade relations. Under the joint witness of the two heads of state, the Chinese Ministry of Commerce and the Uruguayan Ministry of Foreign Affairs signed a Memorandum of Understanding on Deepening Cooperation in Facilitating Bilateral Trade, confirming that they will strengthen cooperation in areas such as supply chains, standards and conformity assessment, trade facilitation and digitalization, and green trade, and promote high-quality development of bilateral trade.

NASDAQ, S&P 500, Dow Jones Analysis – Stocks Rebound After Yesterday’s Pullback

Cory Russell

Feb 01, 2023 15:25

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S&P 500

S&P 500 gained ground as traders bought stocks after yesterday’s pullback and continued to prepare for the Fed decision, which will be released tomorrow.


It looks that economic data did not have a significant impact on today’s market dynamics. Case-Shiller Index confirmed the slowdown of the housing market, which was not surprising as interest rates remained at high levels. CB Consumer Confidence report missed analyst expectations.


General Motors was among the biggest gainers in the S&P 500 today. The stock was up by 8% as traders reacted to the better-than-expected earnings report.


Ford stock gained 4% as traders bet that the company’s results would also exceed forecasts. Ford will release its earnings report on February 2, after the market close.


Today’s rebound was broad, and all market segments moved higher. Utilities stocks underperformed as demand for safe-haven assets declined.

NASDAQ

NASDAQ moved back above the 12,000 level as tech stocks rebounded after yesterday’s pullback.

Traders should note that tech stocks are especially sensitive to changes in Fed policy outlook, so NASDAQ will be volatile tomorrow, after the release of the Fed decision.


NASDAQ has been moving higher since the beginning of the year as traders bet on a less hawkish Fed. In case Fed’s commentary is too hawkish, NASDAQ will find itself under material pressure.

Dow Jones

Dow Jones also enjoyed strong support in today’s trading session. The sell-off in Caterpillar shares, which declined by 3.5% after the company’s earnings missed expectations, did not hurt the performance of the index.