Overview of Key Events
The CME has significantly increased margin requirements for gold and silver, raising concerns about liquidity risks stemming from aggressive deleveraging in the precious metals market.
The Chicago Mercantile Exchange (CME) has once again substantially raised margin requirements for precious metals futures: the margin rate for gold has increased from 6% to 8%, and for silver from 11% to 15%. The new rules will take effect after the close of trading next Monday.
This adjustment follows the recent reform of the "floating margin" mechanism, highlighting the exchange's intention to accelerate deleveraging and risk control amid extreme volatility. Market participants are concerned about a repeat of historical scenarios from 1980 or 2011, where intervention by exchanges led to market crashes.
Further reading:Following the historic crash, CME has once again increased the margin requirements for gold and silver trading.
The United States will release its non-farm payroll data on Friday.
The non-farm payroll data for January will be released on Friday, February 6. The market expects an increase of approximately 60,000 to 80,000 jobs. However, Bloomberg Economics has warned that actual growth may unexpectedly weaken due to adjustments in statistical methodologies, forecasting only around 15,000 new jobs, with an unemployment rate of approximately 4.4%. Weak data could reignite market speculation about potential interest rate cuts. Additionally, the ADP employment report for January in the United States will also be released on February 4.
Michael Reynolds, Vice President of Investment Strategy at Glenmede, stated: "Due to the U.S. government shutdown last year, we have lacked clear insights into the labor market and inflation conditions. Therefore, the upcoming data may be more important than ever."
James Knightley, an economist at ING Groep, stated in a report: "The market remains cautious about the trajectory of the labor market and has not been swayed by the Federal Reserve’s relatively optimistic stance, continuing to price in expectations for two 25-basis-point interest rate cuts this year."
Major U.S. technology companies are set to release their earnings reports, including Palantir, Advanced Micro Devices, Google, Qualcomm, Amazon, and others.
In the coming week,$Palantir (PLTR.US)$、$Advanced Micro Devices (AMD.US)$、$Alphabet-A (GOOGL.US)$、$Qualcomm (QCOM.US)$、$Amazon (AMZN.US)$several high-profile technology stocks will release their earnings reports. Investors will focus particularly on the financial results and capital expenditure plans of two AI-focused tech giants, Google and Amazon. Sid Vaidya, Chief Investment Strategist at TD Wealth, remarked: "Although market reactions to some major earnings reports have been mixed, one thing is clear—the capital spending on building AI infrastructure will not slow down."
Additionally, investors may also pay attention to$Disney (DIS.US)$、$Novo-Nordisk A/S (NVO.US)$、$Eli Lilly and Co (LLY.US)$、$Strategy (MSTR.US)$and other companies' earnings reports.
According to IBES data from LSEG (Refinitiv), among the 166 companies in the$S&P 500 Index (.SPX.US)$that have released results as of Friday, 76.5% reported earnings above analysts' expectations, nearly consistent with the average of 78% over the previous four quarters. Fourth-quarter earnings are projected to increase by 10.9% compared to the same period last year.
Montage Technology, Dongpeng Beverages, and Muyuan Foods, among other new Hong Kong-listed stocks, will commence gray market trading.
Next week, several newly listed Hong Kong stocks will begin gray market trading and be officially listed. Specifically,$EASTROC (09980.HK)$gray market trading will start on Monday, with listing on Tuesday;$MUYUAN (02714.HK)$、$HANS CNC (03200.HK)$gray market trading will commence on Thursday, with listing on Friday;$MONTAGE TECH (06809.HK)$gray market trading will start on Friday.
Key earnings calendar for the new week
Further reading:[Prize] Earnings Season Continues! PLTR, Google, and Amazon Join the Race – A Quick Recap of the Week's Earnings (Feb 2 - Feb 6)
Monday (February 2)
Keywords: U.S. ISM Manufacturing PMI, Palantir Earnings, Dongpeng Beverage Gray Market
In terms of economic data, China will announce its January RatingDog Manufacturing PMI at 9:45 AM, while the U.S. will release its January ISM Manufacturing PMI at 11:00 PM.
Regarding financial events, the Bank of Japan will publish the summary of opinions from the January monetary policy meeting.
Earnings-wise,$Disney (DIS.US)$will report earnings before the U.S. stock market opens. Additionally,$Palantir (PLTR.US)$and$NXP Semiconductors (NXPI.US)$Will announce earnings after the U.S. stock market closes.
In terms of new stocks,$EASTROC (09980.HK)$will commence gray market trading.
Tuesday (February 3)
Keywords: Pfizer/AMD/Super Micro Computer earnings
Earnings-wise,$PayPal (PYPL.US)$、$Pfizer (PFE.US)$will announce earnings before the US stock market opens, while $Advanced Micro Devices (AMD.US)$、$Super Micro Computer (SMCI.US)$Will announce earnings after the U.S. stock market closes.
In terms of new stocks,$GON TECHNOLOGY (02768.HK)$will initiate after-hours trading. Additionally, $EASTROC (09980.HK)$will be listed on the Hong Kong Stock Exchange.
Wednesday (February 4th)
Keywords: US ADP employment figures, Google/Qualcomm/Arm/Novo-Nordisk A/S/Eli Lilly and Co earnings
Regarding economic data, China will release the January RatingDog Services PMI at 9:45 AM. Furthermore, the US will announce the January ADP employment figures at 9:15 PM and the January ISM Non-Manufacturing PMI at 11:00 PM.
Earnings-wise,$Novo-Nordisk A/S (NVO.US)$、$Eli Lilly and Co (LLY.US)$、$Uber Technologies (UBER.US)$is scheduled to release earnings before the US stock market opens. In addition,$Alphabet-A (GOOGL.US)$、$Qualcomm (QCOM.US)$、$Arm Holdings (ARM.US)$Will announce earnings after the U.S. stock market closes.
In terms of new stocks,$GON TECHNOLOGY (02768.HK)$will be listed on the Hong Kong Stock Exchange.
Thursday (February 5)
Keywords: US initial jobless claims, ECB interest rate decision, Amazon earnings, Muyuan Shares/Dahua CNC grey market
In terms of economic data, the US will announce the weekly initial jobless claims at 21:30.
Regarding financial events, the European Central Bank will announce its interest rate decision.
Earnings-wise,$Strategy (MSTR.US)$、$IREN Ltd (IREN.US)$and$Amazon (AMZN.US)$Will announce earnings after the U.S. stock market closes.
In terms of new stocks,$MUYUAN (02714.HK)$、$DISTINCT HEALTH (02677.HK)$、$HANS CNC (03200.HK)$will commence gray market trading.
Friday (February 6)
Keywords: U.S. Nonfarm Payrolls/Michigan Consumer Sentiment Index Preliminary, Montage Technology Grey Market
In terms of economic data, the U.S. will release nonfarm payrolls and unemployment rate at 21:30, followed by the preliminary Michigan Consumer Sentiment Index at 23:00.
In terms of new stocks,$MONTAGE TECH (06809.HK)$will initiate after-hours trading. Additionally, $MUYUAN (02714.HK)$、$DISTINCT HEALTH (02677.HK)$、$HANS CNC (03200.HK)$will be listed on the Hong Kong Stock Exchange.
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Wishing all fellow investors a successful new week ahead!
Editor/Jeffy