An Easy Way to Monitor Concerns About AI ROI
What’s in Today’s Report:
- An Easy Way to Monitor Concerns About AI ROI
- ISM Manufacturing PMI Takeaways
Futures are trading higher with tech leading after PLTR and Samsung both posted very strong Q4 earnings results while a stabilizing precious metals market and optimism Congress will pass a spending bill are bolstering sentiment.
Economically, French CPI fell to +0.3% Y/Y in January vs. (E) +0.7%, down from +0.8% in December which is easing concerns about higher-for-longer central bank policy rates.
Today, there was one important economic report due to be released: JOLTS (E: 7.245 million) but it will be delayed due to the government shutdown.
The only other potential macro catalysts are a 6-Week Treasury Bill auction at 11:30 a.m. ET and the Fed’s Barkin scheduled to speak before the open (8:00 a.m. ET) however, neither will likely move markets meaningfully with focus on the spending bill in Congress/government shutdown.
Finally, earnings season continues with quarterly reports due from PYPL ($1.29), PEP ($2.24), MRK ($2.03), AMGN ($4.75), AMD ($1.11), and SMCI ($0.41) today.