Meta’s revenues jumped over 25% in Q1 and beat expectations, but shares dropped by 15% yesterday after they announced that they will spend more this year than they originally outlined on their AI plans. Asian equities followed suit and declined as investors seemingly become concerned that a bull market has run too far.
The Yen sank as low as 155.5 yesterday - a new 34 year low - vs the dollar. The BoJ is forecast to hold interest rates steady on Friday - but traders are expecting Ueda's press conference to take a hawkish tone and are awaiting some kind of intervention to steady the currency's decline.
Boeings first quarter report yesterday showed that the company spent over $4bn after the mid-air accident in January meant they slowed down production, cutting deliveries to focus on QA. 450 million was spent on compensation to customers.
The US started shipping military aid to Ukraine yesterday, after months of debating in congress. This represents the largest aid package that the US has sent to Ukraine since the war broke out.
Specifically for today, GfK consumer confidence for Germany is expected to improve to a slightly less terrible level. Canada has labour market figures for February, and the US the usual weekly initial claims. The key release of the day will be US GDP for Q1. Growth is seen moderating to 2.5%.
**For professional investors only**Any opinions, news, research, analyses, prices, or other information contained in this blog is provided as general market commentary and does not constitute (and should not be construed as containing) investment advice or an investment recommendation, or an offer of, or solicitation for, a transaction in any financial instrument. Some of this information may have been provided by third-party sources and, although believed to be reliable, it has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation or warranty, expressed or implied, is made or given by or on behalf of iSAM Securities or its directors or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this blog, and no responsibility or liability is accepted for any such information. As a result, any person acting on any information does so entirely at their own risk. iSAM Securities will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
