Daily US Equity Opening News - FDX consortium to buy INPOY for EUR 7.8bln; HIMS to stop selling NVO copycat

TODAY’S AGENDA:

US INDEX FUTURES: ES -0.1%, NQ -0.2%, YM -0.1%, RUT unch.
DAY AHEAD: The week’s data docket starts off on a quiet note; the BoC’s market participants survey is due. Stateside, the NY Fed’s monthly survey of consumer expectations comes ahead of this week’s CPI data (in December, median inflation expectations for the 1yr ahead window increased +0.2ppts to 3.4%, while the 3yr and 5yr gauges were unchanged at 3.0%). Today’s speakers’ schedule includes ECB President Lagarde, Fed’s Waller (voter, dove), and Fed’s Bostic (2027 voter, retiring, hawk). Notable US corporates reporting today include: ON, ACGL, CINF, PFG, UDR.
BROKER MOVES: ORCL upgraded at DA Davidson; LI downgraded at JPM. For the full list, click here.
MAJOR MORNING MOVES RECAP: Mag-7, KR, NXST/TGNA, LLY, XYZ, META, CLF, BDX, HIMS/NVO. For the full list, click here.
US DAILY CONFERENCE CALENDAR: ICE, IBKR, KKR, MRSH. For the full list, click here.
WEEK AHEAD: This week’s data highlights include US NFP and CPI, UK GDP and China inflation. Notable US corporates reporting this week include: AstraZeneca (AZN), Coca-Cola (KO), Cisco Systems (CSCO), Applied Materials (AMAT), McDonald’s (MCD), T-Mobile US (TMUS), Gilead (GILD), Arista Networks (ANET), Shopify (SHOP), S&P Global (SPGI), Welltower (WELL), Vertex Pharmaceuticals (VRTX), CVS Health (CVS).
Click here for Newsquawk’s week ahead preview.
Click here for Newsquawk’s US earnings estimates.

NEWS:

MACRO

Tariffs, US Stocks - US President Trump noted the stock market was at record levels and national security was strong, attributing both to tariffs. He predicted the Dow Jones index would reach 100,000 by the end of his term, said he had been right about everything, and urged the US Supreme Court to pay attention.
US Stocks - Goldman Sachs’ trading desk said US stocks face further selling from trend-following algorithmic funds after Friday’s rebound; it notes that the S&P 500 Index breached a short-term trigger, prompting CTAs to sell. Goldman expects these systematic strategies to remain net sellers over the coming week, regardless of market direction.
US Treasuries - Chinese regulators advised banks to curb holdings of US Treasuries, citing concentration risk and market volatility, according to sources cited by Bloomberg. Banks were urged to limit new purchases and reduce positions where exposure is high. The guidance does not apply to China’s state-held US Treasury reserves.
Fed Chair Nominee Warsh - President Trump’s Fed Chair nominee Kevin Warsh has proposed overhauling the Fed’s relationship with the Treasury Department by reviving an accord similar to the 1951 agreement, a stance that has drawn attention in the USD 30tln bond market, Bloomberg reports. The idea is among the more consequential positions outlined during his campaign to become Fed chair. Elsewhere, Treasury Secretary Bessent urged the Senate to proceed with hearings on Warsh’s nomination to lead the Fed, despite a Republican pledge to block confirmations until a criminal probe into current Chair Powell is resolved.

TECH

Samsung Electronics (5930 KS), Nvidia (NVDA), Micron (MU) - Samsung shares rose over 6.0% in APAC trading after a report said it will soon begin mass production of HBM4 memory chips used in AI infrastructure. Yonhap News reported that the chips could be shipped to Nvidia as early as the third week of February for use in its Vera Rubin AI accelerators.
Samsung Electronics (5930 KS), SK Hynix (0660 KS) - Samsung and SK Hynix are adjusting memory supply practices as prices surge, with suppliers shortening contract durations and moving away from long-term agreements, according to South Korean media reports cited by the DigiTimes. The shift reflects tighter market conditions and rising memory prices, prompting changes to established contracting norms across the memory chip industry.
Qualcomm (QCOM) - completed the tape-out of a 2nm semiconductor design with significant contributions from its engineering centres in India, according to ANI and IANS, DigiTimes reports. The milestone highlights India’s growing role in advanced chip design and marks progress in cutting-edge semiconductor development involving Qualcomm’s global R&D network.
Intel (INTC) - Vista Equity Partners is leading a Series E funding round of over USD 350mln in AI chipmaker SambaNova Systems, alongside Intel and Cambium Capital, Reuters reports. Intel plans to invest about USD 100mln. The funding for SambaNova comes after acquisition talks with Intel stalled, the report said.
Nvidia (NVDA) - Australian AI startup Firmus Technologies secured a USD 10bln loan from funds led by Blackstone (BX), with participation from Coatue Capital, to finance its data centre expansion. The Nvidia (NVDA)-backed company plans to build facilities with up to 1.6 gigawatts of combined capacity across Australia by 2028.
Oracle (ORCL) - Upgraded at DA Davidson to 'Buy' from 'Neutral' arguing that a revamped OpenAI will return to its position as Google's (GOOGL) top challenger and with a fresh stack of capital be able to live up to its obligations this year, including to Oracle, which it sees removing the biggest concern from Oracle.
Dynatrace (DT) Q3 2026 (USD): Adj. EPS 0.44 (exp. 0.41), Revenue 515mln (exp. 506mln); raised FY26 adj. EPS view to 1.67-1.69 (exp. 1.64, prev. 1.62-1.64) and raised FY26 revenue view to 2.005-2.01bln (exp. 1.99bln, prev. 1.985-1.995bln); raised FY26 FCF view to 520-525mln from 505-515mln; announced a new USD 1bln share repurchase programme.
Kyndryl Holdings (KD) Q3 2026 (USD): Adj. EPS 0.52 (exp. 0.60), Revenue 3.9bln (exp. 3.89bln); named Harsh Chugh as interim CFO, David Wyshner to depart as CFO. Filed a non-timely 10-Q with the US SEC, expecting reporting material weaknesses in internal control over financial reporting for the quarter, FY ended March 31. Anticipates material weaknesses in internal control over financial reporting for the first two fiscal quarters of fiscal year 2026 and said the annual report on Form 10-K for the FY25 should no longer be relied upon.
Microchip (MCHP) - Announced that they are proposing a USD 600mln offer of convertible senior notes; to use proceeds for capped call deals and to repay CP notes.
STMicroelectronics (STM) - Announced a multi-year, multi-billion-dollar expansion of its collaboration with Amazon Web Services, making ST a strategic supplier of advanced semiconductors for AWS compute infrastructure. ST will provide high-bandwidth connectivity, mixed-signal processing, microcontrollers, and analogue/power ICs to support high-performance, energy-efficient hyperscale data centres, helping AWS scale AI and cloud workloads while reducing costs.
Monday.com (MNDY) Q4 2025 (USD): EPS 1.04 (exp. 0.92), Revenue 333.9mln (exp. 329.66mln); sees Q1 revenue at 338-340mln (exp. 342.87mln) and FY26 revenue of 1.452-1.462bln (exp. 1.48bln).
Pagaya (PGY) Q4 2025 (USD): EPS 0.80 (exp. 0.77), Revenue 321mln (exp. 350mln); sees Q1 revenue of 315-355mln (exp. 344mln) and FY26 revenue of 1.4-1.575bln (exp. 1.52bln).
Strategy (MSTR) - Said between February 2nd-8th it bought 1,142 Bitcoin for roughly USD 90mln.
China AI Stocks - ByteDance’s new video generation model lifted shares of Chinese media and AI application firms overnight after analysts praised its content quality. COL Group hit its 20% daily limit, while Shanghai Film and Perfect World each rose around 10%.
Block (XYZ) - Block is cutting up to 10% of its workforce as part of a broader efficiency and business overhaul, according to Bloomberg. Hundreds of employees have been notified that their roles may be eliminated during annual performance reviews.

COMMUNICATIONS

Meta (META) - EU Commission has notified Meta of possible interim measures to reverse exclusion of third-party AI assistants from WhatsApp. "The Commission therefore intends to impose interim measures to prevent this policy change from causing serious and irreparable harm on the market, subject to Meta's reply and rights of defence." The Commission preliminarily concludes that: Meta is likely to be dominant in the European Economic Area ('EEA') market for consumer communication applications, notably through WhatsApp; Meta is likely to be abusing this dominant position by refusing access to WhatsApp to other businesses, including third-party AI assistants. At this stage, the Commission considers that WhatsApp is an important entry point to enable general-purpose AI assistants reach consumers; There is an urgent need for protective measures due to the risk of serious and irreparable damage to competition. Meta's conduct risks raising barriers to entry and expansion, and irreparably marginalising smaller competitors on the market for general-purpose AI assistants.
Alphabet (GOOGL) - TotalEnergies (TTE FP) to provide 1GW of solar capacity for Google's data centres in Texas for the next 15 years from two Texas sites owned by the group that are due to begin construction in the second quarter. Meanwhile, Alphabet filed to sell 7-part USD issuance; Includes 3-, long 6-, long 15-, 32- and 100-year paper.
AMC Entertainment (AMC) - Filed an automatic mixed securities shelf; size not disclosed, via filing.
Roblox (RBLX) - Upgraded at Roth Capital to 'Buy' from 'Neutral' with a USD 84 PT (prev. 78). The firm is more positive on the shares due to Roblox's better than expected 2026 bookings guidance and over 20% bookings growth outlook annually over the next several years. The company has a "strong, sustainable virtuous circle" with improving development tools that are producing higher quality games.
Nexstar (NXST), Tegna (TGNA) - President Trump expressed support for a potential merger between Nexstar and Tegna, saying it would increase competition against national television networks he criticised as fake news. In a post on Truth Social, he urged approval of the deal, arguing it would strengthen competition and media quality despite opposition.
Warner Bros Discovery (WBD) - HBO Max to launch in the UK & Ireland on March 26th. Subscribers will have four monthly Entertainment plans to choose from, starting at £4.99 per month. HBO Max will also become the streaming home of TNT Sports in the UK.
Live Nation (LYV) - Live Nation executives and lobbyists are in talks with senior officials at the DoJ to try to avoid a trial over allegations the company operates an illegal monopoly, Semafor reports. The discussions are taking place outside of the DoJ’s antitrust division.

FINANCIALS

Apollo Global Management Inc (APO) Q4 (USD): EPS 2.47 (exp. 2.04), Revenue 9.9bln; Total AUM 709mln.
Robinhood (HOOD) - Wolfe Research upgraded HOOD to 'Outperform' from 'Peer Perform'. The firm sees the risk/reward as more attractive following the YTD pullback. The firm believes most sources of EPS improvement are durable, as higher prediction markets volumes should offset pressure in other areas like crypto.
SoFi Tech (SOFI) - Upgraded at Citizens to 'Outperform' from 'Market Perform' with a USD 30 PT. The firm believes the recent risk-off rotation has penalised higher-growth narratives. It believes SoFi's selloff is less about near-term macro fear and more about "style factor compression and technicals, creating an opportunity" to own the stock. The company offers "compounding at scale" and "rapidly diversifying revenue" toward fee-based and capital-light streams.
EU Bank Deposit Guarantee Scheme - The European Commission plans to revive efforts to create a common EU bank deposit guarantee scheme covering deposits up to EUR 100,000, seeking new ideas after the 2015 proposal failed, FT reports. The initiative aims to boost bank competitiveness and cross-border mergers, address market fragmentation, and unlock EUR 225bln of capital and EUR 250bln of liquidity.
NatWest Group (NWG) - Announced that it has reached an agreement to acquire Evelyn Partners from funds advised by Permira and Warburg Pincus for an EV of GBP 2.7bln; deal is expected to complete Summer 2026; the bank also announced a share buyback of GBP 750mln.
UniCredit (UNCRY) Q4 2025 (EUR): Net income 2.17bln (exp. 1.77bln), Revenue 5.69bln (exp. 5.93bln). Net interest income 3.43bln (exp. 3.35bln), reflecting resilient margin performance. Management reiterated its capital return strategy; plans to return around 50bln to investors through dividends/buybacks over the next five years, targeting an 80% ordinary payout ratio and assessing additional distributions annually based on excess capital generation. Expects net revenue to grow around 5% annually, underpinned by balance sheet optimisation and continued cost discipline. Sees FY26 net profit ~11bln, with longer-term targets pointing to profit of ~13bln in 2028, supported by structurally higher profitability and disciplined capital allocation.
UBS Group (UBS) - Plans to hire about 50 bankers for its wealth management business in Hong Kong after its North Asia wealth unit delivered record revenue last year, a senior executive cited by Bloomberg said. Hiring will focus more on high-net-worth clients rather than ultra-high-net-worth individuals.

ENERGY

US NatGas - US natgas fell for a second session as forecasts for warmer weather pointed to weaker heating and power demand. March futures dropped as much as 6.5%; government forecasts show above-normal temperatures spreading across central, southern and eastern US later this week.
NZ LNG - NZ government has shortlisted proposals to build the country’s first LNG import facility to strengthen energy security and reduce reliance on dirtier fossil fuels, Bloomberg said. Its Energy Minister said the plant could begin operating as soon as 2027 or early 2028, with a contract due by mid-year for a site in Taranaki on the North Island.
Tengiz - Plans to return to peak production of 120k T per day by February 23rd, according to reports. The Tengiz oilfield had recovered to around 60% of peak production by February 8th. Kazakhstan's overall crude and gas condensate output rose to 1.6mln BPD for February 1st-8th, from January's average of 1.27mln BPD. Tengiz oilfield's output was c. 70k Mt/day, or 550k BPD, on February 8th.
BP (BP) - Cautious mention in Bloomberg; Javier Blas writes BP’s share buybacks are a luxury it cannot afford, noting that shareholders are being urged to accept further financial strain in 2026, with a recommendation to cancel the USD 750mln quarterly share buyback and use the funds to reduce debt. Meg O’Neill is set to take charge in April, following years of weak performance compared with major competitors.
TotalEnergies (TTE), Petrobras (PBR) - Namibia said it will not recognise TotalEnergies and Petrobras’ purchase of offshore stakes in the Luderitz Basin until proper approval procedures are followed, Reuters reports. The companies said they each acquired 42.5% of the PEL104 licence, but the government said no formal application was submitted, and prior ministerial approval is required.
Valaris (VAL), Transocean (RIG) - Transocean and Valaris agreed to merge in an all-stock transaction valued at ~USD 5.8bln, creating a combined offshore driller with USD 17bln in enterprise value. Transocean shareholders will own ~53% of the combined company, Valaris shareholders ~47%. The pro forma company will own 73 offshore rigs and have an industry-leading backlog of ~USD 10bln, boosting cash-flow visibility. Transocean expects USD 200mln+ in deal synergies on top of its existing USD 250mln cost-reduction program through 2026. Leadership will include Transocean CEO Keelan Adamson and Valaris CEO Jeremy Thigpen as Executive Chairman. The deal is board-approved, has key shareholder support, and is expected to close in 2H 2026, pending approvals.

MATERIALS

Cleveland-Cliffs (CLF) Q4 2025 (USD): Adj. EPS -0.43 (exp. -0.62), Revenue 4.3bln (exp. 4.57bln). Commentary: “Our performance in 2025 was negatively affected by persistently weak production levels from the automotive sector throughout the entire year, an expiring five-year slab contract becoming value-destructive during its last year, and a newly adverse dynamic in the Canadian market. Fortunately, as we started 2026, these negative situations have all improved. At the same time, the trade environment in the United States continues to move in a very constructive direction, setting the stage for dramatically improved results this year.” “POSCO continues to conduct due diligence as part of our recently announced strategic partnership. We are targeting signing a definitive agreement in the first half of 2026.” Guidance: FY capex 700mln; Steel shipment volumes of approximately 16.5 - 17.0mln net tons; Steel unit cost reductions of ~USD 10 per net ton compared to 2025, inclusive of richer mix impact from expiration of slab contract.
China Gold Holdings - The PBoC extended its gold buying for a fifteenth month in January, lifting holdings to 74.19mln fine troy ounces (vs 74.15mln in December). The value of reserves rose to USD 369.58bln (from USD 319.45bln). China’s gold consumption fell 3.75% in 2025, while bar and coin purchases rose 35.14%. Separately, Treasury Secretary Bessent said Chinese trading activity contributed to last week’s volatility in gold prices, stating that market conditions in China had become “unruly,” prompting tighter margin requirements, and described recent moves in gold as resembling a speculative blowoff.
Margin ratios - Shanghai Futures Exchange adjusted margin ratios, price limits for contracts including Copper (CU2702), Gold (AU2605) and Silver (AG2702).
China Copper Demand - Chinese copper demand is set to ease as buyers extend Lunar New Year shutdowns amid near-record prices, Bloomberg reports. Shanghai Wooray Metals Group said higher prices have raised financial costs for copper rod and pipe producers and reduced order books. The holiday starts next Monday and officially ends on 23rd February, with demand seen slowing this week.
Iron Ore - Australia’s Port Hedland, the world’s largest iron ore export terminal, reopened on Sunday after Tropical Cyclone Mitchell moved south; operator Pilbara Ports said operations resumed as cyclone risks eased.
Anglo American (NGLOY) - Angola is seeking a 20%-30% stake in De Beers as Anglo American (AAL LN) moves to sell the diamond unit amid falling prices, a senior official said; Angola had bid for a majority stake in October, but shifted strategy; talks are ongoing.

HEALTHCARE

GLP-1 Drugs - The FDA said it intends to restrict GLP-1 active pharmaceutical ingredients used in non-FDA-approved compounded drugs mass-marketed as alternatives to approved treatments, including by Hims & Hers (HIMS) and other pharmacies. The agency cited consumer safety concerns, misleading advertising, and said enforcement actions could include seizure or injunction.
Hims & Hers (HIMS), Novo Nordisk (NVO) - Hims & Hers said it will stop selling a copycat version of Novo Nordisk’s Wegovy weight-loss pill two days after launch. The move followed a statement from the FDA a day earlier saying it was cracking down on copycat weight-loss treatments, including those sold by Hims. Novo Nordisk takes legal action against Hims & Hers to protect patients from unsafe, knock-off Wegovy and Ozempic, asking the court to permanently ban Hims from selling unapproved, compounded drugs that infringe our patents, and is seeking to recover damages.
Eli Lilly (LLY), Innovent Biologics (IVBIY) - Eli Lilly agreed to pay USD 350mln upfront to partner with Innovent Biologics on early-stage development of new cancer and immune disorder treatments. Innovent said it could receive up to USD 8.5bln in milestone payments, though the companies did not disclose how many medicines are covered by the agreement.
Novo Nordisk (NVO) - To buy back DKK 3.8bln worth of shares between February and May as part of its previously announced DKK 15bln programme.
Eli Lilly (LLY) - To acquire Orna Therapeutics. Acquisition valued at USD 2.4bln.
Becton Dickinson and Company (BDX) Q1 2026 (USD): Adj. EPS 2.91 (exp. 2.81), Revenue 5.25bln (exp. 5.15bln), cut FY26 EPS view to 12.35-12.65 (exp. 14.84, prev. 14.75-15.05).
Molina Healthcare (MOH) - Expects to record an estimated non-cash, pre-tax impairment charge of ~93mln in Q1 2026, related to certain intangible assets. The charge follows its decision to exit the Medicare Advantage Prescription Drug product for 2027 as it shifts focus exclusively to dual eligible Medicare members.
Doximity (DOCS) - Upgraded at Canaccord to 'Buy' from 'Hold' with a USD 34 PT (prev. 48). Canaccord writes that the post earnings selloff is an overreaction to short-term fears that will prove to be a longer-term buying opportunity. The firm says it is "prudent to draw a line in the sand and upgrade the stock." It believes Doximity shares are likely to be "meaningfully higher" a year from now as pharma budgets "firm up" post the policy and pricing uncertainty.
Johnson & Johnson (JNJ) - Reported 12-month pilot-phase OMNY-AF study data on the investigational OMNYPULSE Platform for symptomatic paroxysmal atrial fibrillation, presented at the 31st Annual AF Symposium. Investigators achieved 100% acute procedural success, no procedure-related adverse events, 56.7% zero-fluoroscopy cases, and 90% primary effectiveness at 12 months.
Waters (WAT) Q4 2025 (USD): Adj. EPS 4.53 (exp. 4.51), Revenue 932mln (exp. 929mln); sees FY26 non-GAAP EPS at 14.30-14.50 (exp. 14.32) and sees Q1 non-GAAP EPS at 2.25-2.35 (exp. 2.51).
Roche (RHHBY) - Genentech said Phase III FENtrepid data showed fenebrutinib met its primary endpoint of non-inferiority versus Ocrevus in reducing disability progression in primary progressive multiple sclerosis. Fenebrutinib reduced the risk of disability progression by 12%, with effects seen from 24 weeks, and cut worsening on the nine-hole peg test by 26%.
CVS Health (CVS) - Said its roughly 9,000 community pharmacies now accept TrumpRx discount cards, allowing eligible patients to receive savings on certain medications.

CONSUMER DISCRETIONARY

Tesla (TSLA) - Tesla is ramping up hiring to support Elon Musk’s plan to build 100GW of US-based solar manufacturing. A Tesla job posting says the goal is to “deploy 100GW of solar manufacturing from raw materials on American soil before the end of 2028".
Kroger (KR) - Announed former Walmart executive Greg Foran as its next CEO.
DraftKings (DKNG) - Announced a partnership with Crypto.com to expand prediction markets on its DraftKings Predictions platform. The agreement adds player-specific NFL and NBA contracts and new sports categories, complements existing CME Group markets, and supports future expansion.
Stellantis (STLA) - Automotive Cells Company, backed by Stellantis, has dropped plans for gigafactories in Italy and Germany, unions said. Projects in Termoli and Kaiserslautern were shelved after being on standby since May 2024 due to weak EV demand, Reuters reports. ACC will focus on its French plant.
Li Auto (LI) - Downgraded at JPMorgan to 'Underweight' from 'Neutral' with a USD 14 PT (prev. 18). The firm sees China's auto industry underperforming in 2026 year as underlying passenger vehicle growth slips to negative territory. JPMorgan cut Li's earnings forecast to a loss this year, citing falling sales volumes and weaker margins. The company's lack of new models is a concern.
Swatch Group (SWGAY) - US activist investor Steven Wood is campaigning to overhaul the governance and culture of Swatch Group, but the controlling family is resisting, Bloomberg reports. Despite tumbling sales and shrinking profits over the past two years, the Swiss watchmaker last month issued an upbeat outlook and bullish predictions of a recovery this year.

INDUSTRIALS

Inpost (INPOY), FedEx (FDX) - A consortium led by Advent and FedEx agreed to buy Inpost for EUR 15.60/shr, valuing the parcel locker operator at EUR 7.8bln; Advent and FedEx will each own 37%, with stakes also held by CEO Rafal Brzoska’s A&R and PPF; the deal is expected to close in H2.
SpaceX - SpaceX delayed a planned Mars mission originally targeted for 2026 and will instead prioritise a lunar mission for NASA, WSJ reports. The company told investors it will focus on reaching the moon first and is targeting March 2027 for an uncrewed lunar landing, with a Mars attempt planned for a later date.
American Airlines (AAL) - The CEO said he would meet as soon as possible with the Allied Pilots Association after the union raised concerns over the airline’s handling of a recent storm and its financial performance, Reuters reports.
Northrop Grumman (NOC) - Awarded a USD 198mln ceiling-priced US Navy delivery order to supply 608 power amplifier module spares for the E-2D Advanced Hawkeye aircraft.

CONSUMER STAPLES

Colgate-Palmolive (CL) - CEO Chairman, President, and CEO Noel Wallace sold 45,568 shares on 4th February at USD 93.9145/shr, for a total USD 4.28mln.
Beef Imports - US President Trump signed a proclamation increasing the US low-tariff quota for Argentinian beef imports by 80k metric tons, limited to lean beef trimmings. Analysts said the change would have little impact on consumer prices.
Ocado Group (OCDDY) - Planning to cut up to 1,000 jobs as part of a cost-cutting drive, with most redundancies expected at its UK head office, The Times reports; talks are at an early stage, and the company has not yet finalised the scale or timing of the job reductions.

MACRO (MORE)

Fedspeak - Fed Vice Chair Jefferson (voter) said policy is well positioned to address likely economic developments, with future decisions guided by incoming data and the outlook; he said policy was roughly neutral, allowing supply-side growth, and said he does not want to see further weakening in the labour market. Fed’s Daly (2027 voter) said on Friday she keeps an open mind on rates, and leans toward more cuts in 2026, though it is unclear whether that would be one or two; she supported last week’s decision to hold rates, stating a cut would require greater confidence on inflation or clearer signs of labour market weakness.
PBoC - China’s PBoC boosted liquidity to meet Lunar New Year cash demand, injecting CNY 600bln via 14-day repurchase agreements late last week, ending a two-month pause; Industrial Securities forecasts the central bank could add up to CNY 3.5tln more before the holidays begin on Sunday.
Japan Elections - Japanese stocks hit a record as markets opened on Monday after PM Takaichi’s LDP party won 316 of 465 seats, its first two-thirds lower house majority since 1947, BBC reports. With coalition partner Japan Innovation Party, the bloc secured 352 seats. Japanese stocks recorded their biggest gain since April on boosted expectations of increased government spending; the Nikkei 225 rose to above 57k; tech and machinery shares led gains. Japan’s top currency official said authorities are closely monitoring FX markets after the JPY came under renewed pressure following Takaichi’s victory; Vice Minister Mimura said the government is watching developments with urgency and remains in close communication with the market.
ECB - ECB’s Cipollone said the central bank will assess the impact of the EUR’s recent strength on inflation in its quarterly projections due in March; he noted exchange rates are one factor in projecting price dynamics and said recent currency moves have been relatively limited.
UK Labour Market - REC said the UK jobs market is stabilising, with employers still cutting permanent hiring in January but at the slowest pace in 18 months. The downturn in permanent roles dates back to 2022, while temporary staff placements rose for the first time since October.

TRADE

Australia-China - Australia imposed a 10% tariff on steel ceiling frames from China after an investigation by the Anti-Dumping Commission found evidence supporting claims of dumping by Chinese companies.
China Exports - China’s digital services exports are rising as companies including ByteDance and Tencent (TCEHY) expand overseas in live streaming, e-commerce and AI, Bloomberg reports. The digital services trade surplus more than doubled in 2025 to a record USD 33bln, according to official data. Telecom, computer and information services exports grew nearly 30% last year.

GEOPOLITICS

Iran - Iran’s President Masoud Pezeshkian said nuclear talks with the US were “a step forward,” while rejecting intimidation; in a social media post, he said dialogue remains Iran’s strategy for peaceful resolution. President Trump said the US held “very good talks” with Iran in indirect negotiations and confirmed more discussions are planned, though no date has been set; Iran’s foreign minister said talks focused only on the nuclear programme and reaffirmed Tehran will not halt uranium enrichment, despite new US sanctions and ongoing military pressure.
Board of Peace - The US plans to hold the first formal meeting of President Trump’s Board of Peace in Washington on 19th February, an official said. The body was part of Trump’s 20-point plan that helped broker a ceasefire between Israel and Hamas and included representatives from about 20 countries.