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The pan-European Stoxx 600 index extended its gains to 0.5%, hitting a new intraday high.According to JPMorgan Chases U.S. Treasury client survey for the week ending February 24, the long position ratio increased by 3 percentage points, the short position ratio decreased by 1 percentage point to the lowest since November 4, and the neutral ratio decreased by 2 percentage points. The net long position ratio increased to the highest level since January 27.Stock News 1. The U.S. Securities and Exchange Commission (SEC) announced on Monday that it would end its investigation into the crypto unit of Roblox (RBLX.N) and would not take further enforcement action, and there are signs of loosening regulation in the crypto industry. 2. The latest data from the European Automobile Manufacturers Association shows that Teslas (TSLA.O) sales in Europe plummeted 45% in January, while the overall European electric vehicle market grew 37%, with major markets such as Germany and the United Kingdom achieving significant growth. 3. DA Davidson covered artificial intelligence (AI) infrastructure company Nebius (NBIS.US) for the first time, giving it a "buy" rating and a target price of $50. 4. Sanofi (SNY.O) and Teva Pharmaceuticals (TEVA.N) jointly developed duvakitug, and the two companies expect to launch Phase 3 clinical trials in the second half of this year. 5. People familiar with the matter said that Nvidias (NVDA.O) H20 chip orders have increased significantly due to a surge in demand for DeepSeeks low-cost artificial intelligence model. 6. Intel (INTC.O) said on Monday that ASMLs (ASML.O) first two advanced lithography machines have been "put into production" at its factory. Early data shows that the new lithography machines are more reliable than older models. 7. Zoom (ZM.O) Q4 revenue increased 3.3% year-on-year to US$1.18 billion, in line with market expectations; earnings per share after deducting some items were US$1.41, and the market expected US$1.31. 8. Home Depot (HD.N) had net sales of US$39.7 billion in the fourth quarter, higher than market expectations. 9. Baidu (BIDU.O) and YY Live have finalized the acquisition, and more than 11 billion in funds will be used for AI research and development.On February 25, the Ukrainian parliament passed a resolution on Tuesday with 268 votes out of 280 in favor, stating that as long as the Russian-Ukrainian conflict continues, Zelensky should continue to govern, and new elections can only be held after peace is achieved. Musk responded to a post about the voting results on the social media platform "X" and said: "Hold the election." Russia has long called for a vote and said that Zelenskys term officially ended in May last year and was therefore illegal. However, the Ukrainian Pravda cited Socis polls showing that most Ukrainians opposed holding a vote while the Russian-Ukrainian conflict was ongoing. The Kiev parliament reiterated that the Ukrainian constitution does not allow elections to be held under martial law. The resolution reads that presidential elections will be held once "comprehensive, just and stable peace" is guaranteed.British Prime Minister Starmer: Britain will not raise taxes or borrow to fund its defense budget.

Hang Seng Index, ASX200, Nikkei 225: ASX 200 Gets Wall Street Support

Cory Russell

Feb 14, 2023 16:49


Market Overview

It was a mixed morning session. While there were no material stats from the US to deliver a bullish start to the Tuesday session, a US household survey eased fears of a hot US CPI Report.


According to a Monday Fed press release, the January 2023 Survey of Consumer Expectations showed that household growth expectations fell significantly in January while holding above pre-pandemic levels. The survey results eased fears of a hotter-than-expected January CPI Report, supporting a bullish US market session.


On Monday, the NASDAQ Composite Index rose by 1.48%, with the Dow gaining 1.11%. Investor optimism delivered early support.

ASX 200

The ASX 200 was up 0.30% this morning. Economic indicators from Australia delivered mixed results. While consumer confidence waned in February, business confidence rebounded in January, which was market positive. The NAB Business Confidence Index rose from -1 to +6, while the Westpac Consumer Sentiment Index fell by 6.9%, reversing a 5.0% rise from January.


Easing fears of a hotter-than-expected US CPI Report delivered a bullish session for the Dow on Monday, which provided ASX 200 support this morning. However, the Index saw a modest gain, with the RBA monetary policy outlook a headwind.


This morning, bank stocks had a mixed session. National Australia Bank (NAB) and Westpac Banking Corp (WBC) saw gains of 0.67% and 0.19%, respectively, while the Commonwealth Bank of Australia (CBA) and ANZ Group (ANZ) were down by 0.07% and 0.04%, respectively.


Mining stocks were also having a mixed session. Rio Tinto (RIO) fell by 0.15%, while BHP Group Ltd (BHP) and Fortescue Metals Group (FMG) were up 0.08% and 0.45%, respectively. Newcrest Mining (NCM) resumed its upward trend, rising by 0.63%.


Oil stocks were on the rise, with Woodside Energy Group (WDS) and Santos Ltd (STO) up by 0.55% and 0.50%, respectively. The current uptrend in crude oil prices delivered support. The upside came despite a morning pullback in crude oil prices. WTI was down 1.24% to $79.15.