Today's Highlights | US Futures Edge Higher Ahead of Economic Data Deluge

U.S. equity futures moved slightly higher in pre-market trading on Tuesday, February 10. As of press time, Dow Jones Industrial Average futures gained 0.06%, S&P 500 futures rose 0.09%, and Nasdaq 100 futures added 0.03%.

 

In individual stocks, optical communications extended their rally. Credo Technology surged over 16% after issuing guidance significantly above market expectations, while Astera Labs rose more than 4%. TSMC gained over 3% following reports of a 36.8% year-on-year increase in January sales.

 

Over the past week, U.S. markets have navigated a wave of AI-driven sell-offs followed by a rebound, entering a period of brief consolidation. Traders are now monitoring this week's economic data to gauge its impact on Federal Reserve interest rate expectations.

 

Later today, retail sales—often dubbed "the scary data"—will be released, offering a definitive look at consumer vitality and economic resilience from late last year. The January non-farm payrolls and CPI reports are scheduled for release on Wednesday and Friday nights, respectively.

 

"We expect the economic recovery to broaden in the second half of the year, but near-term consumer data may not be as positive," noted Karen Georges, fund manager at Ecofi Investissements. "We still do not anticipate the Fed cutting rates in the short term."

 

Money markets are currently pricing in two rate cuts for the year. The first is widely expected to occur after Jerome Powell steps down as Chair in May, potentially under the leadership of Kevin Warsh, though it remains unclear if Warsh represents a hawkish stance.

 

Trevor Greetham, head of multi-asset at Royal London Asset Management, stated that current equity movements may be driven more by interest rate expectations than by corporate earnings.

 

In Europe, major indices were mostly higher. The DAX rose 0.12%, the CAC 40 gained 0.33%, while the FTSE 100 dipped 0.13%. Kering surged nearly 11% as its earnings report bolstered market confidence.

Corporate News

SK Group Chairman Holds "Fried Chicken Summit" with Jensen Huang

 

During a recent visit to the U.S., SK Group Chairman Chey Tae-won met with Nvidia CEO Jensen Huang for a "fried chicken summit." The two reportedly discussed HBM supply and collaborative plans for AI business ventures.

 

Alphabet Launches Inaugural Sterling Bond Offering, Including Century Bond

 

Google parent Alphabet has initiated its first-ever British pound-denominated bond issuance. The deal includes 3-year, 6-year, 15-year, 32-year, and 100-year tranches, with pricing expected to be finalized later today.

 

Waymo Announces Fully Autonomous Operations in Nashville

 

Waymo announced Monday that it has achieved fully autonomous operations in Nashville, Tennessee. Waymo currently operates over 2,500 autonomous vehicles across the San Francisco Bay Area, Los Angeles, Phoenix, Austin, and Atlanta.

 

Investor interest in autonomous driving continues to heat up; the startup announced a $16 billion funding round last week, bringing its valuation to $126 billion—nearly tripling in less than two years.

 

Hyundai Seeks $2.5 Billion Deal to Supply 50,000 EVs to Waymo

 

Sources say Hyundai Motor Group is seeking to supply 50,000 IONIQ 5 autonomous vehicles to Waymo by 2028. At approximately $50,000 per vehicle, the total value of the deal could reach $2.5 billion.

 

Amazon Plans Content Marketplace for AI Data Licensing

 

Amazon has reportedly told publishing executives it plans to launch a "content marketplace" where publishers can sell text content to companies developing AI products. An Amazon spokesperson stated there is no specific information to share at this time.

 

EU High Court Remands WhatsApp Privacy Dispute to Lower Court

 

The European Court of Justice on Tuesday sent a legal dispute between Meta’s WhatsApp and EU privacy regulators back to a lower court. The five-year dispute began when regulators ordered Ireland’s data protection authority to increase fines against Meta. Ireland fined WhatsApp €225 million in 2021 for failing to inform users how data was shared with Facebook, a violation of GDPR.

 

Notably, Ireland originally intended a €50 million fine but significantly increased it under pressure from other EU nations.

 

Cisco Unveils New AI Networking Chip

 

Cisco released a new chip and router on Tuesday aimed at accelerating data transfers in massive data centers. Its "Silicon One G300" switch chip, expected to hit the market in the second half of this year, can reportedly speed up some AI computing tasks by 28%. The chip will utilize TSMC’s 3nm process and features "shock absorber" capabilities to prevent network congestion during data surges.

 

Brookfield in Talks to Acquire Blackstone’s Spanish Real Estate Arm for €1 Billion

 

Brookfield Asset Management is reportedly in talks to acquire Fidere, Blackstone’s Spanish real estate platform. The deal, valued at approximately €1 billion ($1.2 billion), could be one of the largest real estate transactions in Spain this year.

 

Clear Channel Outdoor to be Acquired in $6.2 Billion Deal

 

Clear Channel Outdoor Holdings announced Monday it has agreed to be acquired by a consortium comprising Mubadala Capital and TWG Global. The deal values the company at $6.2 billion. Shareholders will receive $2.43 per share in cash, a 71% premium over the unaffected share price.

 

AstraZeneca Reports 2025 Revenue of $58.74 Billion

 

AstraZeneca’s full-year 2025 global revenue reached $58.74 billion, up 8% year-on-year. Revenue in China rose 4% to $6.65 billion. On January 29, the company announced it would invest over 100 billion RMB ($15 billion) in China by 2030 to expand drug production and R&D.

 

Spotify Q4 Revenue Hits €4.53 Billion, Beating Estimates

 

Spotify reported Q4 revenue of €4.53 billion, exceeding market expectations of €4.52 billion. The company expects Q1 monthly active users (MAUs) to reach 759 million, ahead of the 752.45 million estimated by analysts.