- FX: The British pound was the strongest major currency, taking GBP/USD to its highest level in seven weeks. The loonie was the weakest major currency on election concerns, dropping to a nine-day low against the greenback.
- US data: US retail sales came in mixed, with the headline figure printing at +0.4% m/m vs. +0.2% eyed, but the “Core” reading was flat vs, a +0.1% reading expected. Separately, UofM Consumer Sentiment beat expectations at 92.0 vs. 90.8 eyed.
- See the key trends and themes we’ll be watching next week!
- Commodities: Both oil and gold fell by less than 1% on the day.
- US indices finished mixed, but the Dow nonetheless maintained its winning streak. This week’s big story was the outperformance of value stocks over growth.
- Materials (XLB) were the strongest sector on the day while REITs (XLRE) brought up the rear.
- Stocks on the move:
- Apple (AAPL) dropped -2% after Goldman Sachs lowered its price target in the wake of Apple’s TV+ announcement.
- Broadcom (AVGO) fell -3% after announcing a disappointing full-year revenue outlook yesterday.
Latest market news
February 3, 2023 08:22 PM
February 3, 2023 03:55 PM
Web Trader platform
Our sophisticated web-based platform is packed with features.