These are the stocks posting the largest moves premarket.
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Morgan Stanley shares rise as bank’s earnings top expectations, helped by record wealth management revenue
Morgan Stanley fourth-quarter earnings are down sharply from last year, but were able top analysts expectations.
SAP CEO says the world is entering the ’next phase of globalization‘
The CEO of German tech giant SAP said the world is entering the next phase of globalization — and he’s largely optimistic on the outlook for technology.
Top business leaders discuss financial innovation at the World Economic Forum
Moderated by CNBC’s Steve Sedgwick, top business leaders discuss at Davos, Switzerland, how financial actors respond to ongoing disruptions while keeping pace with technological advancement.
Goldman Sachs posts its worst earnings miss in a decade as revenue falls while expenses rise
Goldman Sachs on Tuesday posted its biggest earnings miss in a decade.
Morgan Stanley shares rise as bank’s earnings top expectations, helped by record wealth management revenue
Morgan Stanley fourth-quarter earnings are down sharply from last year, but were able top analysts expectations.
Goldman Sachs posts its worst earnings miss in a decade as revenue falls while expenses rise
Goldman Sachs on Tuesday posted its biggest earnings miss in a decade.
Japan MOF reportedly raises assumed long-term interest rate to 1.6% in FY 2026/27
<p style=““ class=“text-align-justify“>In Japanese circles, that’s a stark contrast to the assumed interest rate of 1.1% set when the government compiled a draft state budget for the coming fiscal year. That’s the same long-term rate used for the budgets in the last six years even if actual borrowing costs have fallen short of said figure. I mean, in the past, the coupon rate on 10-year JGBs were 0.20% before the latest change at the start of this year made it 0.50%.</p><p style=““ class=“text-align-justify“>Is this yet another hint by Japanese officials that a bigger change to policy is coming? The yen isn’t really reacting much to it though with USD/JPY up 0.3% at 128.90. Meanwhile, 10-year JGB yields are still holding above the 0.50% upper limit set out by the BOJ – the third straight session running – on the eve of tomorrow’s policy decision.</p>
This article was written by Justin Low at www.forexlive.com.
China GDP grew 3% in 2022, says vice premier Liu He
<ul><li>Trade, domestic consumption in China will return to normal in 2023</li><li>China’s economy will see improvement and hit normal growth rate this year</li><li>Financial risks have appeared recently due to factors such as loose regulation</li><li>Working to stabilise property sector, reduce financial risks</li></ul><p style=““ class=“text-align-justify“>Some trivial remarks there and the narrative fits with the ongoing pledge by China to support the economy through the re-opening phase for now. In any case, Xi probably has some bigger issues to sort out as the one <a target=“_blank“ href=“https://www.forexlive.com/news/chinas-population-fell-last-year-the-first-time-since-1961-20230117/“ target=“_blank“ rel=“follow“>here</a>.</p>
This article was written by Justin Low at www.forexlive.com.
OPEC secretary general says too early to tell impact of sanctions on Russian oil
<ul><li>China re-opening expected to encourage oil demand this year</li><li>Expects Chinese appetite to raise oil demand by 0.5 mil bpd</li><li>Demand from China, India could compensate for drop from developed countries</li></ul><p style=““ class=“text-align-justify“>There are still mixed views on the oil market as of late but price has recovered well after the start of the year scare, with WTI crude now hovering back close to $80.</p>
This article was written by Justin Low at www.forexlive.com.