Here is what you need to know.
- Earnings season has turned into a ‘minefield.’ This earnings season has seen the fewest number of “beats” in seven years, according to Peter Boockvar, chief investment officer at Bleakley Advisory Group.
- The world’s most accurate explains why the outlook for investors isn’t as rosy as it appears.“I still think that global growth could be lower than people expect, mainly due to the sharp slowdown in global trade,” Christophe Barraud, the chief economist at Market Securities, told Business Insider.
- Bitcoin is nearing its lowest level of the year.The cryptocurrency was down 1.2% at $US3,407 a coin and flirting with its lowest print of 2019.
- Deutsche Bank refused Trump a loan during the 2016 campaign. The German lender concluded that Trump’s campaign rhetoric made him a risky borrower and that giving him a loan could hurt the bank’s reputation, according to The New York Times.
- Sony tumbles on weak PlayStation outlook.Sony shares fell more than 8% in Tokyo on Monday after the electronics giant said sales of its PS4 console fell to 8.1 million from 9 million a year ago, Bloomberg reports.
- Panasonic cuts its outlook. The company lowered its full-year profit outlook, saying the US-China trade war has hurt demand for its auto components and factory equipment, according to Reuters.
- The New England Patriots are Super Bowl champs.The Patriots defeated the Los Angeles Rams 13-3 in the lowest scoring game in Super Bowl history. Patriots wide receiver Julian Edelman was the most valuable player.
- Asian markets were closed for the Lunar New Year. Britain’s FTSE (+0.27%) was out front in Europe while France’s CAC (-0.44%) lagged. The S&P 500 was set to open little changed near 2,706.
- Alphabet reports after the closing bell. The search giant is expected to earn $US10.86 a share on revenue of $US31.32 billion, according to analysts surveyed by Bloomberg.
- US economic data keeps coming. Factory orders and durable goods will both cross the wires at 10 a.m. ET. The US 10-year yield is up 1.1 basis points at 2.70%.
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