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HomeLatest NewsGlobal NewsMarket Watch: Take-Two's Acquisition Plans, Global M&A Surge, and UBS's Vigilance

Market Watch: Take-Two’s Acquisition Plans, Global M&A Surge, and UBS’s Vigilance

Market Watch:- Dow futures were unchanged, S&P 500 futures declined 2 points, and Nasdaq 100 futures fell 25 points, or 0.1%.

Wall Street indices are expected to see strong gains in the quarter due to global M&A returns, with Take-Two pursuing a U.S. game developer acquisition and UBS investigating Credit Suisse’s books.

Take-Two Aquire Gearbox Ent

Take-Two Interactive Software is set to acquire US game developer Gearbox Entertainment for $460 million, aiming to acquire its popular “Borderlands” series. Gearbox’s most successful franchise, Borderlands, has sold nearly 80 million copies. Take-Two’s main focus will be on the upcoming release of its sixth “Grand Theft Auto” franchise, set for 2025. The acquisition is expected to close in the first quarter of Take-Two’s fiscal year 2025. Both companies are in active development for the next installment in the Borderlands series.

UBS reviewing Credit Suisse’s accounts

UBS, a Swiss bank, is still reviewing Credit Suisse’s accounts after buying the rival over a year ago. The move has led to a 50% increase in UBS’s share price and a reward for CEO Sergio Ermotti, who received 14.4 million Swiss francs in 2023. However, UBS warns that a “material error” may not be detected, potentially leading to Credit Suisse’s demise.

World Market’s ended On high note

Global equity markets ended Q1 2024 on a high note, with investors celebrating the possibility of central bank rate cuts and a boost in economic activity. The S&P 500 and STOXX 600 indexes reached record levels, leading to a 30% increase in global mergers and acquisitions. The number of transactions worth more than $10 billion increased to 14, compared to five in 2023. The US and Europe were the most concentrated markets, with US M&A volumes rising 59% to $431.8 billion and European deals jumping 64%.

Economic Calendar

8:30 GDP

8:30 Initial Jobless Claims

8:30 Corporate Profits

9:45 Chicago PMI

10:00 Consumer Sentiment

10:00 Pending Home Sales

10:30 EIA Natural Gas Inventory

11:00 Kansas City Fed Mfg Survey

1:00 PM Baker-Hughes Rig Count

SIFMA Early Close at 2:00 PM

3:00 PM Farm Prices

4:30 PM Fed Balance Sheet

Other Key Events:

  • Enterprise Connect Conference 2024, 3/25-3/28, in Orlando FL
  • JP Morgan 13th Annual NAPA Valley Biotech Forum, 3/26-3/28, in San Francisco, CA
  • Optical Fiber Communication Conference, 3/24-3/26, in San Diego, CA
  • TD Cowen 17th Annual Infrastructure Services Conference, 3/26, in Toronto, 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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