Analytics, 20 January 2020
Daily comment Jan 20
- US markets closed today for Martin Luther King Day
- Davos 2020 kicks-off
- IMF trimmed its economic growth forecast
- Spotify in talks to buy Ringer
- WTI +0.7%
Companies:
- Spotify is reportedly planning to acquire the Ringer, sports and pop-culture outlet. https://on.wsj.com/2RaB1Ml
- Amazon in working on technology that will allow customers to link credit cards to their hands. https://on.wsj.com/37ccxrt
- On Friday, analysts in Morgan Stanley and Namura raised their PT on Apple stock to $368 (from $296) and $280 (from $225) respectively. https://cnb.cx/2v8sxwH
Macro:
IMF revised global economy growth down to +3.3% for 2020 and +2.9% for 2019 vs prior +3.4% and 3% respectively. https://bloom.bg/37mmXVP
Commodities:
- WTI (+0.7%): Oil futures rose following supply disruptions in Libya and Iraq. Iraq temporarily stopped output at an oil field on Sunday, while Libyan production almost ground to a halt after armed forces shut down a pipeline. https://on.wsj.com/2RaQqMz
Coming up:
- This week (1/21-1/24): The World Economic Forum in Davos
- On Tue (1/21): BoJ monetary policy decision
- On Thu (1/23): ECB monetary policy decision Companies to report earnings this week: Netflix, IBM, UBS, Procter & Gamble and Hyundai.