Meta’s revenues jumped over 25% in Q1 and beat expectations, but shares dropped by 15% yesterday after they announced that they will spend more this year than they originally outlined on their AI plans. Asian equities followed suit and declined as investors seemingly become concerned that a bull market has run too far.
The Yen sank as low as 155.5 yesterday - a new 34 year low - vs the dollar. The BoJ is forecast to hold interest rates steady on Friday - but traders are expecting Ueda's press conference to take a hawkish tone and are awaiting some kind of intervention to steady the currency's decline.
Boeings first quarter report yesterday showed that the company spent over $4bn after the mid-air accident in January meant they slowed down production, cutting deliveries to focus on QA. 450 million was spent on compensation to customers.
The US started shipping military aid to Ukraine yesterday, after months of debating in congress. This represents the largest aid package that the US has sent to Ukraine since the war broke out.
Specifically for today, GfK consumer confidence for Germany is expected to improve to a slightly less terrible level. Canada has labour market figures for February, and the US the usual weekly initial claims. The key release of the day will be US GDP for Q1. Growth is seen moderating to 2.5%.
