Bye Bye Apple Car! | MarketTalk: What’s up today? | Swissquote

Show notes

Apple abandoned its ambition to build an electric car to concentrate on AI.
The S&P500 had a slow session yesterday, as the US yields were little changed on the back of mixed economic data, the rising suspense regarding whether the US will default on March 1 and a 7-year US government bond auction that settled above 4.30%. The durable goods orders tanked more than 6% in January, the most in nearly 4 years. Richmond manufacturing index came in better-than-expected, except for shipments, while Atlanta Fed’s GDPNow index was revised up to 3.2% for this quarter from 2.9% printed earlier.
Today, the US will reveal its latest GDP numbers. The US economy is expected to have grown 3.3% in Q4. That’s lower than the 5% printed in the Q3, but it’s still a very strong growth for an economy that underwent the most aggressive tightening cycle of its modern history. And if Atlanta’s GDP prediction is an indication, the slowdown will slow in the first quarter of this year.
The US dollar index lacks direction before tomorrow’s inflation print. US crude continues to test the $79pb offers to the upside. Inflation in Australia came in lower than expected, keeping the Reserve Bank of Australia (RBA) hawks away from the marketplace, and the Reserve Bank of New Zealand (RBNZ) kept its rate unchanged for the 5th straight meeting and said that risks to inflation became more balanced.
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