Novosti i prognoe: tržište kapitala od 19-02-2021

U.S. stock-index futures traded higher on Friday, as technology stocks rose after being sold off for most parts of the week, while investors awaited preliminary February U.S. manufacturing/services PMIs and continued to digest the comments by Treasury Secretary Janet Yellen, who said that a large coronavirus relief package is needed for a full economic recovery in the U.S.

Global Stocks:

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• If the economy evolves broadly in line with our  central projection, in my view, it is likely that no further monetary stimulus is required
• My preferred path for policy would be to keep current monetary stimulus in place until well into 2023 or 2024
• We are clearly not experiencing a V-shaped recovery
  
• There is also the possibility of weaker scenario, and my own view is that risks remain skewed in this direction
• Even small amount of persistent labour market slack would be enough to keep wage pressure too low
• In such a scenario, I judge more monetary stimulus would be appropriate; I would favour a negative bank rate as tool to implement the stimulus
• No evidence that negative rates have been counterproductive
  
• Possible that we have short period of pent up demand, after which demand eases back again
• It would be a policy error to respond to such circumstances with early monetary tightening
• Even if the economy recovers more strongly than in our central projection, I think the removal of monetary stimulus is unlikely to become appropriate until well into 2022

Deere (DE) reported Q1 FY 2021 earnings of $3.87 per share (versus $1.63 per share in Q1 FY 2020), beating analysts’ consensus estimate of $2.17 per share.

The company’s quarterly revenues amounted to $8.051 bln (+23.3% y/y), beating analysts’ consensus estimate of $7.120 bln.

DE rose to $308.00 (+2.58%) in pre-market trading.

Applied Materials (AMAT) reported Q1 FY 2021 earnings of $1.39 per share (versus $0.98 per share in Q1 FY 2020), beating analysts’ consensus estimate of $1.28 per share.

The company’s quarterly revenues amounted to $5.162 bln (+24.0% y/y), beating analysts’ consensus estimate of $4.967 bln.

The company also issued upside guidance for Q2 FY 2021, projecting EPS of $1.44-1.56 versus analysts’ consensus estimate of $1.28 and revenues of $5.37-5.41 bln versus analysts’ consensus estimate of $4.97 bln.

AMAT rose to $119.00 (+4.91%) in pre-market trading.