eToro: Market Shifts & Record Performances Ahead

eToro unveils financial landscape: market shifts and record performances

In a surprising turn, the US job market exceeded expectations, with 353,000 new jobs in January, reflecting a robust economy despite the Fed’s inflation concerns. The upcoming week focuses on major earnings reports and key economic updates, with cocoa prices hitting a 46-year high, Ferrari breaking financial records, and Meta’s shares soaring. Meanwhile, Apple faces challenges in China, and the S&P 500 reaches a new record high. Exxon surpasses earnings expectations, Amazon’s shares soar, and Skechers’ stock drops. Cryptocurrencies, including Bitcoin, rise on positive market sentiment.

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eToro unveils financial landscape: market shifts and record performances

The US job market beats expectations in January, with 353,000 new jobs and a stable unemployment rate. Wages rose by 4.5% YoY, signaling a strong economy. Wall Street remains optimistic despite the Fed’s inflation concerns.

Upcoming focus:

Major earnings reports from McDonald’s, Caterpillar, Alibaba, Philip Morris, and PepsiCo. Federal Reserve speakers post-FOMC meeting. Key economic updates, including the Fed’s loan survey, consumer credit, trade data, and PMI. There was a mixed historical performance in February for major indices.

Market highlights:

Cocoa prices hit a 46-year high at $4,956 due to strong January demand and concerns over West African supply. Ferrari breaks financial records with Q4 earnings exceeding forecasts, reporting a 17% annual revenue rise. Meta’s shares surge 20% after tripling Q4 profits and announcing its first dividend. Apple faces challenges in China with declining sales amid cautious consumer spending. S&P 500 reaches a new record high on strong tech earnings and a robust January jobs report.


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Other updates:

Exxon exceeds earnings expectations despite lower oil prices. Amazon’s shares soared over 7% following a Q4 earnings beat. Skechers’ stock drops 10.3% on mixed Q4 results and weak full-year guidance. Cryptocurrencies, including Bitcoin, rise on positive market sentiment.

Looking ahead:

Palantir’s Q4 earnings on February 5th, focusing on the commercial sector. PepsiCo’s earnings expected on February 9th, with potential challenges in U.S. and European markets. Uber’s earnings on February 7th, anticipating a second straight profitable quarter. Disney’s financial reveal on February 7th amid parks business deceleration and leadership changes.

Weekly events (GMT):

China Caixin services PMI, US ISM services PMI, Reserve Bank of Australia rate decision, UK construction PMI, Canada Ivey PMI, US EIA crude oil inventories, China CPI, US initial jobless claims, and Canada employment data.

Earnings calendar:

Notable companies reporting include McDonald’s, Caterpillar, Alibaba, Disney, Uber Technologies, and PepsiCo throughout the week.