It’s the last trading day of February. The ‘AI scare trade’ has prompted investors to shift into alternative markets seen as more insulated. Stocks in Asia and Europe outperformed US benchmarks this month — the MSCI Asia Pacific Index has gained 7%, marking its best-performing February since the index’s inception in 1998.
Here in the UK, the Green Party has won a special election for a Manchester seat in the House of Commons. The constituency of Gorton and Denton was vacated last month by Andrew Gwynne. This marks the first time the Greens have won a by-election, and the first time they have secured a seat in northern England. It represents a significant setback for Prime Minister Keir Starmer and his party, with the Labour chair describing the result as “disappointing.”
The long-running Netflix vs. Paramount saga over Warner Bros. Discovery has concluded, with Netflix dropping its bid and leaving Paramount to clinch the $111 billion deal. Netflix withdrew as the transaction was no longer financially attractive, particularly if it were required to match Paramount’s latest offer.
On the economic calendar today, we have a series of European CPI releases: France (7:45 AM), Spain (8:00 AM), and Germany (1:00 PM), as well as US January PPI at 1:30 PM.
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Bitcoin rose 0.4% to $67,716.91
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Ether rose 0.3% to $2,036.83
