1:45 PM
AMD Secures Multi-Billion Dollar Deal with Meta
AMD has landed a second multi-billion dollar contract to supply AI processors in just a few months. Meta will receive up to $60 billion in chips over the next five years, the semiconductor manufacturer announced. Simultaneously, Facebook’s parent company could acquire up to ten percent of AMD’s shares. A similar agreement was reached with OpenAI last October.
According to AMD, it will deliver processors with a total power consumption of six gigawatts to Meta. This is equivalent to the electricity production of four to six nuclear power plants. In addition to chips for operating already trained Artificial Intelligence (AI), the order also includes traditional central processors, AMD CEO Lisa Su said, specifically tailored to Meta’s needs. In response to the Meta deal, AMD shares rose nearly 15 percent in pre-market trading on Wall Street, the largest increase in almost six months.
1:35 PM
Home Depot Beats Expectations – Stock Surges
The world’s largest home improvement retailer, Home Depot, exceeded market expectations during the holiday quarter thanks to robust demand from professional contractors. Price-conscious customers also drove business with their more affordable repair projects, the company reported. Comparable sales increased 0.4 percent during the three months ending February 1, while analysts had predicted stagnant revenue. The U.S. Company continues to forecast comparable sales growth of zero to two percent for fiscal year 2026 and reaffirmed its previously issued annual guidance. The stock gained 3.5 percent in pre-market U.S. Trading.
1:11 PM
Oil Price Facing Another Jump?
The price of oil has been steadily rising for weeks, with levels of $120 a barrel becoming increasingly plausible. How traders can capitalize on the fluctuations will be discussed with Kemal Bagci of BNP Paribas.
12:45 PM
Money Market Update
Rates in European money markets are largely unchanged. European Central Bank (ECB) President Christine Lagarde reiterated that her main assumption is to serve her entire term, and emphasized the crucial importance of the ECB’s political independence. Meanwhile, demand from Eurozone banks for ECB liquidity in the one-week main refinancing operation increased marginally. According to the ECB, €12.827 billion was allocated at a fixed rate of 2.15 percent, compared to €12.432 billion the previous week. Bids from 64 (previous week: 54) institutions were fully satisfied.
Call money: 1.90 – 2.10 (1.80 – 2.10), Weekly money: 1.92 – 2.09 (1.80 – 2.10), 1-month money: 1.96 – 2.14 (1.89 – 2.26), 3-month money: 2.02 – 2.23 (1.95 – 2.30), 6-month money: 2.06 – 2.26 (2.02 – 2.37), 12-month money: 2.15 – 2.37 (2.09 – 2.44), Euribors: Feb 23, Feb 20. 3 months: 2.0340 2.0240, 6 months: 2.1450 2.1410, 12 months: 2.2050 2.2050
12:24 PM
Mobile Carrier O2 Weakens – Loss of 1&1 Weighs Heavily
The loss of its largest customer is proving hard for mobile provider O2 Telefónica. The German subsidiary of the Spanish telecommunications company Telefónica reported that its revenue fell by 3.8 percent to around €8.2 billion last year. Its adjusted EBITDA plummeted by 8.8 percent to €2.5 billion.
For years, competitor 1&1 had leased capacity on the O2 network and connected its customers using O2 antennas, paying a substantial fee to the established network operator. However, 1&1 has now switched to Vodafone and migrated around twelve million customers to its network – significantly reducing O2’s income. O2 has gained new partners, but this has not been enough to close the gap.
12:01 PM
Dax Remains Below 25,000
Update from the Frankfurt Stock Exchange: The Dax has not yet been able to recover from its losses on Monday. The German benchmark index fell 0.1 percent to 24,960 points at midday. The EuroStoxx50 was up 0.2 percent at 6103 points. The Euro was little changed at $1.1788. Oil prices for Brent and WTI remained at the previous day’s level.
11:42 AM
MTU Stock Plunges
A disappointing outlook for free cash flow is sending MTU Aero Engines stock sharply lower. The engine manufacturer’s shares are down 5.2 percent, marking the largest daily loss since April 2025. A trader noted that the free cash flow (FCF) forecast for 2026 fell short of expectations and was also weak for 2025. Analysts at Berenberg also criticized the FCF as being below consensus forecasts. “The FCF forecast is weaker than expected, and the in-line Ebit forecast for 2026 likely offsets the positive impact of the Q4 2025 beat,” UBS stated.
11:34 AM
Ifo: Export Expectations Turn Positive
The mood among German exporters turned positive in February. The barometer for export expectations rose to plus 2.6 points, from minus 0.8 points in January, according to the Ifo Institute’s business survey. “The export economy is starting the new year with a little tailwind,” said Ifo Head of Economic Forecasting Timo Wollmershäuser. “However, a broad-based and dynamic recovery is not yet in sight.”
However, the erratic trade policy of U.S. President Donald Trump is likely to create new uncertainty. The U.S. Supreme Court last Friday declared previously imposed tariffs illegal. Trump immediately introduced new tariffs of initially ten percent, which were later increased to fifteen percent. “The recent decisions on U.S. Tariff policy are creating new uncertainty,” Wollmershäuser said. “If tariff regulations are constantly changing, it makes planning more difficult for companies.”
11:18 AM
Deutz Invests in Anti-Drone Startup Tytan
Deutz is further expanding its defense business. The Cologne-based engine manufacturer will work with Tytan Technologies on the development of modern energy and drive solutions for anti-drone defense, both companies announced. The goal is to provide suitable drive solutions for AI-powered interceptor drones, as well as the development and delivery of modular, decentralized energy systems.
Deutz is also investing in the Munich-based drone defense specialist. Financial details were not disclosed. “Deutz will support us with industry knowledge and capacities to secure our supply chain in Europe and further ramp up production,” said Tytan CEO and co-founder Balazs Nagy.
10:52 AM
Postal Competitor DVS Files for Insolvency
Deutsche Post competitor Deutscher Versand Service (DVS) and its subsidiary Xendis GmbH have filed for insolvency proceedings. The financial difficulties are due to the tax privilege enjoyed by Deutsche Post, the tense competitive situation in the German market for letter and business mail, and sharply increased personnel costs, the companies said. They are among the largest rivals to the Bonn-based company in the letter market and intend to restructure themselves in self-administration.
The current program, known as “Driver Choice,” is aimed at 105,000 drivers. In addition to a one-time payment of $150,000, it includes payments for pension and health insurance. The union estimates that more than 10,000 members could accept the offer. We see the second attempt by UPS to reduce staff through buyouts. A previous program in July 2025, which offered significantly lower payments, was accepted by only 3,000 employees. UPS plans to cut up to 30,000 jobs and close 24 locations. The company is responding to an 8.6 percent decline in package volume last year. Teamsters represents more than 320,000 UPS employees.
10:31 AM
MTU Shareholders to Receive Substantial Payout
Engine manufacturer MTU Aero Engines achieved a record profit last year and is sharing the gains with its shareholders. Adjusted revenue increased by 16 percent to €8.7 billion, and adjusted earnings before interest and taxes (EBIT) rose by 29 percent to €1.35 billion, the Airbus and Boeing supplier reported. This results in an operating margin of 15.5 (2024: 14.0) percent. After tax, MTU also generated a profit of €1.03 (0.64) billion.
“We optimally exploited the market opportunities in 2025 and continued our success despite the ongoing challenges,” said new CEO Johannes Bussmann, who succeeded Lars Wagner, who moved to Airbus in September. Shareholders will receive a dividend of €3.60 (2.20) per share. This is a step towards a payout ratio of 40 percent, which MTU had suspended due to the costly recall of geared fan engines, said CFO Katja Garcia Vila.
10:14 AM
Nervousness Over Iran Crisis at Oil Markets
Oil prices are rising as traders assess the prospects for negotiations between the U.S. And Iran. In early trading, Brent and WTI crude oil grades are up 0.2 percent each, at $71.24 and $65.95 per barrel, respectively. “Crude oil continues to trade nervously near multi-month highs as the world waits to see what happens after the U.S. Built up a massive military presence near Iran, while talks on the Iranian nuclear program are scheduled for Thursday,” said analysts at Saxo Bank. Market attention remains focused on the Strait of Hormuz. However, oil flows from the region have not yet been disrupted, and Iranian exports remain high.
9:50 AM
Precious Metal Prices Decline
On the commodity market, oil prices are initially rising: Brent crude oil from the North Sea, for example, is up 0.8 percent to $72.06 per barrel. The price of gold, however, is down 0.9 percent to $2,182.23, while silver is down 1.1 percent to $87.28.
9:32 AM
UPS Facing $150,000 Severance Payments
United Parcel Service (UPS) is moving forward with its job cuts after a U.S. Court rejected a union’s emergency request. UPS will now offer drivers severance payments of $150,000 as planned, the company said. A federal district judge in Boston dismissed the union’s request for a temporary restraining order. The Teamsters union had argued that the program violated the collective bargaining agreement and circumvented negotiations.
The current program, called “Driver Choice,” targets 105,000 drivers. In addition to the $150,000 lump sum payment, it includes payments for pension and health insurance. The union expects more than 10,000 members to accept the offer. It is the second attempt by UPS to reduce staff through buyouts. An earlier program in July 2025, which offered significantly lower payments, was accepted by only 3,000 employees. UPS plans to cut up to 30,000 jobs and close 24 locations. The company is responding to an 8.6 percent decline in package volume last year. Teamsters represents more than 320,000 UPS employees.
9:16 AM
“Investors Listening Closely to Trump’s Speech”
After a weak start to the week, European stock markets are expected to open slightly higher. U.S. Guidance is weak, but business is stabilizing in Asia. Uncertainty remains high, ranging from the new customs chaos with newly announced tariffs from U.S. President Donald Trump to geopolitical tensions. Citrini Research released a hypothetical scenario over the weekend in which AI negatively impacts the economy in the near future. The analysts named numerous companies from various industries whose business models they see as threatened.
After three trading days above 25,000, the Dax closed below that mark yesterday, falling 1.1 percent to 24,992 points. “Now it remains to be seen which purchase thresholds the brave ones will choose. Whenever there were losses, buyers always came into the market. But it is quite possible that the few buyers are waiting for lower prices,” said Thomas Altmann of QC Partners.
The reporting season is slowly picking up speed on Tuesday. Impulses for the markets could arrive from U.S. President Trump’s State of the Union address late Wednesday night (Central European Time). Investors will be watching closely to see how the President addresses issues such as tariffs, Iran, and the economic situation in the country.
8:57 AM
Amazon Pours Billions More into Data Centers
Amazon will invest $12 billion in building data centers in the U.S. State of Louisiana and address concerns about resource consumption. The company pledged to actively participate in securing water and power supplies. A $400 million fund will be dedicated to expanding water infrastructure. Amazon will also cover all costs for the projects and work closely with local energy provider Southwestern Electric Power Company. The project is expected to create 540 full-time jobs.
The investment is part of massive spending by the tech industry on Artificial Intelligence (AI). Amazon recently announced it expects to invest approximately $200 billion this year, up from $131 billion in 2025. The sum spooked investors and weighed on the stock.
8:39 AM
Semiconductor Giants in Demand
Most Asian stock markets are defying the sharp declines on Wall Street and are even posting significant gains in some cases. This is particularly true for the stock exchanges in Tokyo and Shanghai, where traders are attributing catch-up potential. The Chinese mainland markets are reopening for the first time after the nine-day New Year holiday and are returning strengthened. The prospect of lower U.S. Trade tariffs for regional economies is supporting export-oriented sectors in Japan, South Korea and China.
Notably, most markets are tending to rally. The Nikkei in Japan is up 1.0 percent to 39,070. The Chinese CSI index gains 1.3 percent. In Taiwan and South Korea, the leading indices reach record highs. This is supported by the AI-driven demand for semiconductors, which is expected to significantly boost sales. SK Hynix plans to further increase production.
8:57 AM
This Stock is Under Heavy Pressure in Early Trading
Packaging company Gerresheimer is losing four percent in pre-market trading. This is due to a downgrade of the stock by UBS analysts to “Sell” from “Neutral,” a trader said. The price target was also cut by more than half to €12.90 from €29.00.
8:22 AM
FMC Sees Earnings Jump
Fresenius Medical Care (FMC) benefited from its cost-cutting program and higher reimbursements in its important U.S. Business last year. Adjusted operating profit increased by 23 percent to €2.21 billion, the company reported. In the fourth quarter, earnings rose by 44 percent to €705 million, exceeding analysts’ expectations of €633 million. Group revenue climbed 2 percent to €19.63 billion for the year. Adjusted for currency effects, the increase was 5 percent. Shareholders will receive a dividend of €1.49 per share, up five cents. This is a step towards a payout ratio of 40 percent, which MTU had suspended due to the costly recall of geared fan engines, said CFO Katja Garcia Vila.
For 2026, FMC expects revenue to be flat on a currency-adjusted basis. Adjusted operating profit is expected to be in a range of minus to mid-single-digit percentage growth.
8:03 AM
Dax Waits to See if Buyers Will Step In
After a weak start to the week, European markets are expected to open with small gains. U.S. Guidance is weak, but business is stabilizing in Asia. The uncertainties remain great. They range from the new customs chaos with newly announced tariffs from U.S. President Donald Trump to geopolitical tensions. Citi Research released a hypothetical scenario over the weekend in which AI negatively impacts the economy in the near future. The analysts named numerous companies from various industries whose business models they see as threatened.
After a quiet start to the week, the reporting season is picking up speed on Tuesday. Impulses for the markets could come from U.S. President Trump’s State of the Union address late tonight.
7:59 AM
Takeover Battle: Paramount Raises Bid for Warner
In the battle for control of Warner Bros Discovery, Paramount Skydance has increased its offer, intensifying the competition against rival Netflix. The move is intended to prevent Netflix from completing the previously agreed-upon acquisition, according to a person familiar with the matter. The bidding war centers on one of the most valuable portfolios in Hollywood, including the “Harry Potter” franchise, the HBO Max streaming service, and the CNN news channel.
According to the source, the new bid is designed to address Warner Bros.’ concerns about funding security. A precise amount was not disclosed. Paramount’s original offer for the entire company was $108.4 billion. Netflix had bid $82.7 billion in cash for the studios and streaming offerings. Netflix now has the opportunity to match Paramount’s new bid.
7:44 AM
Democrats Introduce Bill to Reimburse Tariff Revenue
A group of 22 Democratic senators is introducing a bill that would require the U.S. Government to fully reimburse collected tariff revenue. The bill stipulates that the funds, including interest, be refunded within 180 days. The chances of success are slim: Democrats are in the minority in the Senate, so it is unclear whether the bill will even be put to a vote. The House of Representatives is also controlled by Republicans. House Speaker Mike Johnson dismissed the idea, stating that the White House must resolve the situation and that Congress is not involved at this time. Economists at the Penn-Wharton Budget Model (PWBM) estimate that potential refunds could exceed $175 billion.
7:27 AM
“China Shock” Hits Auto Industry Hardest
Shrinking exports and rising imports: In trade with China, the Institute of the German Economy (IW) sees the German industry under pressure on two fronts. “Export-side value creation is being lost in China,” said IW researcher Jürgen Matthes. “And import-side, the competitive pressure from Chinese products is increasing, which affects not only exporting companies but industry as a whole.” The automotive industry is particularly affected, as is mechanical engineering, which is now the most important sector for German exports to China.
According to recent figures from the Federal Statistical Office, goods “Made in Germany” worth €81.3 billion were exported to China last year. This was a decrease of 9.7 percent compared to the previous year. At the same time, Germany imported goods of Chinese production worth €170.6 billion, an increase of 8.8 percent.
