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HomeLatest NewsGlobal NewsMarket Watch: Apple-Baidu potential deal, Nissan Sales Up, Europe Bets Big"

Market Watch: Apple-Baidu potential deal, Nissan Sales Up, Europe Bets Big”

Market Watch:- Dow futures fell 45 points, S&P 500 futures down 7 points, and Nasdaq 100 futures fell 35 points, or 0.2%.

The stock results of FedEx and Nike were divergent because FedEx surprised with high profits growth while Nike warned of a sales fall. Wall Street is expected to close the week strongly up, despite Apple being hit with an antitrust lawsuit..


Apple Baidu AI deal

Apple is in talks with Baidu over using its AI models in its iPhone software in China, according to Chinese media reports. The move could help Apple lessen US regulatory concerns over using proprietary AI technology in China. The AI integration may also boost iPhone sales in China, which have fallen for four straight quarters amid increased government scrutiny and tighter competition from rivals like Samsung and Huawei.

Apple was sued by the US Department of Justice last week, becoming the latest of Big Tech companies accused of operating monopolies and abusing their power. China has also introduced guidelines to phase out US microprocessors from Intel and AMD from government personal computers and servers, and to sideline Microsoft’s Windows operating system and foreign-made database software in favor of domestic options.

Nissan Sales

Nissan has announced a new business plan aiming to increase its global vehicle sales by 1 million over the next three years. The company plans to launch 30 new models, with 16 electrified, and reduce the cost of the next generation of electric vehicles (EVs) by 30% by 2030.


This move is part of Nissan’s strategy to make EVs 60% of its global sales by the end of the decade, up from a 55% goal in February 2023. The company also aims to achieve an operating profit margin of over 6% and total shareholder returns of over 30% by the end of the financial year in March 2027.

Goldman Sachs Bullish on STOXX 600

Goldman Sachs has raised its 2024 year-end target for the STOXX 600 index to 540 from 510, indicating a 6% upside. The pan-European benchmark index has seen a strong year so far, with the STOXX 600 trading 0.1% lower at 509.12, a gain of over 6% year-to-date.


The bank raised its 2024 target for the FTSE 100 index to 8,200 from 7,900, offering over 3% upside from current levels. Analysts at Goldman Sachs believe that if economic growth accelerates and central banks begin a rate-cutting cycle in June, valuations will rise further. The bank also lifted its target for the U.K.’s benchmark FTSE 100 index to 8,200 from 7,900.

Economic Calendar

8:25 AM Fed’s Bostic Participates in Moderated Conversation
8:30 AM National Activity Index for February
10:00 AM New Home Sales M/M for February
10:30 AM Dallas Fed Manufacturing for March
1:00 PM U.S. Treasury to sell $66B 2-year notes.

Other Key Events:

  • Enterprise Connect Conference 2024, 3/25-3/28, in Orlando FL
  • Optical Fiber Communication Conference, 3/24-3/26, in San Diego, CA

Must read book about investing – check hereMarket WatchMarket WatchMarket WatchMarket Watch Market Watch Fed Meeting Fed Meeting Fed Meeting Fed Meeting Fed Meeting Fed Meeting Fed Meeting Fed Meeting

U.S. inflation data for February is expected to provide insights into the future direction of Federal Reserve monetary policy. The overall consumer price index (CPI) is expected to match the previous month’s pace of 3.1% annually, with the core CPI expected to slow to 3.7% from 3.9% in January. However, the month-on-month gauge is expected to shed light on price gains momentum.

Fed officials have made cooling inflation the main objective of interest rate hikes, which have brought borrowing costs to over two-decade highs. They suggest cuts may be coming later this year, but need more evidence that price growth is sustainablely easing back down to their 2% annualized target. Analysts at ING believe inflation is likely too hot for comfort.

U.S. inflation data for February is expected to provide insights into the future direction of Federal Reserve monetary policy. The overall consumer price index (CPI) is expected to match the previous month’s pace of 3.1% annually, with the core CPI expected to slow to 3.7% from 3.9% in January. However, the month-on-month gauge is expected to shed light on price gains momentum.

Fed officials have made cooling inflation the main objective of interest rate hikes, which have brought borrowing costs to over two-decade highs. They suggest cuts may be coming later this year, but need more evidence that price growth is sustainablely easing back down to their 2% annualized target. Analysts at ING believe inflation is likely too hot for comfort.

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