Stock Market Update

The S&P 500 futures currently trade 91 points below fair value.

Equity indices in the Asia-Pacific region ended the week on a mixed note. The Wall Street Journal reported that Treasury Secretary Bessent will ask China to reduce its purchases of oil from U.S. adversaries ahead of President Trump's planned visit to China. Toyota supplier Denso agreed to acquire chipmaker Rohm for about $8 bln. South Korea's vice finance minister said that a price ceiling for petroleum prices will be established.

• In economic data:
  • South Korea's February CPI 0.3% m/m (expected 0.4%; last 0.4%); 2.0% yr/yr (expected 2.1%; last 2.0%). January Current Account surplus $13.26 bln (last surplus of $18.70 bln)

---Equity Markets---

• Japan's Nikkei: +0.6% 
• Hong Kong's Hang Seng: +1.7%
• China's Shanghai Composite: +0.4% 
• India's Sensex: -1.4%
• South Korea's Kospi: UNCH 
• Australia's ASX All Ordinaries: -0.9%

Major European indices are on track for a lower finish to the week. European Central Bank policymaker De Guindos said that the central bank's policy stance could change if inflation expectations are affected by the war with Iran. Lufthansa reported in-line results for Q4. Shipping giant Maersk suspended its routes from the Far East to the Middle East and from Middle East to Europe.

• In economic data:
  • Eurozone's Q4 GDP 0.2% qtr/qtr (expected 0.3%; last 0.3%); 1.2% yr/yr, as expected (last 1.4%). Q4 Employment Change 0.2% qtr/qtr, as expected (last 0.2%)

---Equity Markets---

• STOXX Europe 600: -1.6% 
• Germany's DAX: -0.5%
• U.K.'s FTSE 100: -0.5% 
• France's CAC 40: -0.6% 
• Italy's FTSE MIB: -0.5% 
• Spain's IBEX 35: -0.7%