It’s pre-market like the weather, at and around zero, but it feels colder.
And the interest will even make you shiver. So more. The AEX indication is -0.1% after a red session on Wall Street and really all prices are now moving with a zero before the decimal point. Except for individual shares that is, because here and there some are flying out of control.
- European and American futures open or are just below freezing
- In Asia, almost all indices also turn red, even with a zero before the decimal point. There are a few well-known stocks that are fluttering in Hong Kong:
Alibaba -4.7%
Baidu -2,3%
Tencent -2,3%
TSMC -0,6%
Samsung +0,3% - The volatility (CBOE VIX index) is -0.6% at 20.6
- The dollar is up 0.3% to 1.0639 after yesterday’s mega euro rally
- Gold, oil and crypto are also all a few tenths lower
The interest rates then… oh no and that already. Seen in this way, the AEX indication is still very strong. New tops.
And of course this is the story. Yes, this was in it after all the feeling, experience and those lousy other European numbers this week. Was 7.6% over January, our inflation is rising again. Our purchasing management index or the economy was also disappointing yesterday. Isn’t that called stagflation? But with an overstretched labor market.
In February 2023, the #inflation at the quick estimate 8.0 percent. This quick estimate is calculated on the basis of still incomplete source data. The regular consumer price index (CPI) figures for February will be published on March 14. More on: https://t.co/F6x84CV5yQ pic.twitter.com/IMoOMxuiAF
— CBS (@statistiekcbs) March 2, 2023
Then this. No budget model and no cyber truck, -1.4% during the day and after close -5.6%: a little more was expected from Tesla’s investor day yesterday. Here ABM and here quotes from Bloomberg:
Elon Musk said the next phase of Tesla’s growth will be built around a global sustainable energy future that can serve a larger world population and be achieved without great economic sacrifice.
Outlining his third “Master Plan” for the company during an investor day presentation, he described a vision for a global switch to electric vehicles, driven by $10 trillion in spending to develop sustainable energy worldwide.
WATCH: Carmaker Tesla readies a revamp of its big-selling Model Y SUV, sources said. Code-named Project Juniper, the project will see updates to the interior and exterior of the popular crossover, they said https://t.co/AbNOYGJa26 pic.twitter.com/lg4IeE66Nk
— Reuters Business (@ReutersBiz) March 2, 2023
Rivian went -18.3% yesterday on numbers, Lucid -5.6%, Nio -6.0%, Xpeng -0.7% and Nikola -2.7%. And all graphs go from top left to bottom right. As so often – and this is my own wisdom – the better the story, the less the cash flow and the worse the investment.
WATCH: U.S. electric vehicle startups from Lucid to Rivian are taking a hit from weakening interest in their newer products, a bad sign for companies wrestling with high costs https://t.co/V0d6cZXQQY pic.twitter.com/tEhtiNhZJa
— Reuters Business (@ReutersBiz) March 2, 2023
Have a look, Rivian:
Nio:
Lucid. There may be one that will eventually make it and if an Amazon (that went from 2000 to 2002 also -98%) rises from the ashes, but guess and guess.
News, advice, shorts and agenda
The most important ABM Financial news since the Amsterdam closing yesterday. After the Wall Street market, Salesforce and Snowflake went up +15.8% (!) and -7.4% on figures. Ebusco, which is around the low state, report another order.
- 08:19 Prosus wants to sell OLX Autos
- 08:15 Flat opening AEX expected
- 07:50 Ebusco receives Swedish order
- 07:44 AB InBev meets profit target
- 07:33 Investor Day Tesla falls short
- 07:07 Consumer confidence in Japan up slightly
- 06:59 Inflation in the Netherlands up again
- 06:59 European stock markets open mixed in anticipation of inflation figures
- 06:48 Exhibition agenda: Dutch companies
- 06:48 Stock market agenda: foreign funds
- 06:48 Stock market agenda: macroeconomic
- 01 Mar Snowflake dives deeper into the red
- 01 Mar Stock market update: AEX on Wall Street
- Mar 01 Wall Street closed lower
- 01 Mar Oil price closed higher
- 01 Mar SBM Offshore nominates new commissioner
- 01 Mar Wall Street is heading for a lower close
- 01 Mar European stock markets closed lower
The AFM reports this shorts:
From agenda:
00:00 Universal Music Group – Annual figures
17:30 Hydratec Industries – Annual figures
07:00 Merck KGaA – Fourth Quarter Figures (Germany)
1:00 PM Best Buy – US Fourth Quarter Figures
1:00 PM Macy’s – US Fourth Quarter Figures
22:00 Broadcom – First quarter figures (US)
06:30 Rapid Inflation Estimate – February (NL)
11:00 Unemployment – January (eur)
11:00 Inflation – February vlpg (eur)
2:30 PM Requests for Support – Weekly (US)
2:30 PM Labor Costs – Fourth Quarter (US)
And then this
Grumpy day:
The S&P 500 and Nasdaq fell for a second straight session as Treasury yields rose on bets of more rate hikes by the Federal Reserve https://t.co/zSGCyelh1X pic.twitter.com/0Rte92fCxL
— Reuters Business (@ReutersBiz) March 2, 2023
Luxury stocks are only so expensive:
L’Oréal CEO Nicolas Hieronimus tells the Economic Club of New York that, despite inflation, beauty-product shoppers aren’t “down-trading” https://t.co/JjT2p2TV82
— Bloomberg Markets (@markets) March 1, 2023
Hereby:
European banks, asset managers study halving stocks settlement time https://t.co/ehR5cT0eSH pic.twitter.com/5PdZgqJrFL
— Reuters Business (@ReutersBiz) March 2, 2023
Painful for the UK, the country’s biggest tech.
SoftBank-owned chip designer Arm has decided against selling shares on the London Stock Exchange for now and will instead focus on a sole listing in New York https://t.co/NTdm3sSm0g
— Bloomberg Markets (@markets) March 1, 2023
By that time there will be another ideology:
Gender-equal boards out of reach until 2038, says MSCI https://t.co/NNAOEu029a pic.twitter.com/jmMLUk1twT
— Reuters Business (@ReutersBiz) March 1, 2023
I mean, nothing as volatile as opinion in the West.
U.S. Congress votes to block ESG investing, Biden veto expected https://t.co/vsmHgCvK0T pic.twitter.com/tg4yVj7nk2
— Reuters Business (@ReutersBiz) March 1, 2023
Have fun and good luck today.
