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10:59am ET, 1/31/2023 - European Equities Rebound in Tuesday Trading as France Reports Growth
After opening Tuesday's trading session in negative territory, European equities rebounded later on Tuesday as American depositary receipts of European stocks rose 0.036% to 1,160.94 on the S&P Europe Select ADR Index. France reported Q4 growth of 0.1%, while Italy's gross domestic product shrank 0.1% during the quarter.

In continental Europe, the gainers were led by biopharmaceutical companies ERYTECH Pharma (ERYP) and Genfit (GNFT), which climbed 28% and 3.1% higher, respectively. They were followed by 3D printer company Materialise (MTLS) and medical device maker EDAP TMS (EDAP), which rose 3% and 2.5%, respectively.

The decliners in continental Europe were led by electronics company Philips (PHG) and biopharmaceutical company Cellectis (CLLS), which fell 6.4% and 3.3%, respectively. They were followed by dating app operator Spark Networks (LOV) and hotel booking site trivago (TRVG), which were down 1.9 and 1.4%, respectively.

In the UK and Ireland, the gainers were led by pharmaceutical company Avadel Pharmaceuticals (AVDL) and biopharmaceutical company Adaptimmune Therapeutics (ADAP), which rose 6.3% and 4.6%, respectively. They were followed by biopharmaceutical company NuCana (NCNA) and alcoholic beverage company Diageo (DEO), which were up 4.1% and 2.2%, respectively.

The decliners in the UK and Ireland were led by biopharmaceutical company Akari Therapeutics (AKTX) and biotech firm Trinity Biotech (TRIB), which dropped 5.8% and 2.7%, respectively. They were followed by biopharmaceutical company Mereo BioPharma Group (MREO) and utility company National Grid (NGG), which lost 2% and 1.1%, respectively.

10:38am ET, 1/31/2023 - Tech, Telecoms Stocks Weigh Down Asian Equities in Tuesday Trading
Tech companies and telecoms stocks were weighing down Asian equities in Tuesday trading as American depositary receipts of Asian stocks declined 0.6% to 1,664.00 on the S&P Asia 50 ADR Index.

In North Asia, the gainers were led by online game developer The9 (NCTY) and content aggregator Qutoutiao (QTT), which rose 6.1% and 4.4%, respectively. They were followed by consumer finance firm Qudian (QD), which gained 4.2% and airline operator China Eastern Airlines (CEA), which gained 4.1%.

The decliners in North Asia were led by educational services provider 51Talk Online Education Group (COE), which lost 5.9% and game live-streaming platform HUYA (HUYA), which declined 4.4%. Financial services company Shinhan Financial Group (SHG) retreated 4.1% and online entertainment service iQIYI (IQ) declined 3.7%.

In South Asia, the gainers were led by biotech company ASLAN Pharmaceuticals (ASLN) and IT firm Sify Technologies (SIFY), which climbed 7.4% and 3.8%, respectively. They were followed by financial services companies ICICI Bank (IBN) and HDFC Bank (HDB), which increased 1.5% and 1.1%, respectively.

The decliners in South Asia were led by telecommunications operators PLDT (PHI) and Telekomunikasi Indonesia (TLK), which retreated 4.5% and 2.5%, respectively. IT firm Wipro (WIT) was down 0.8%, while pharmaceutical firm Dr. Reddy's Laboratories (RDY) slipped 0.5%.

8:56am ET, 1/31/2023 - Traders Tread Cautiously as Fed Starts Two-Day Meeting, Fueling Narrow Premarket Losses for US Equity Futures
US equity futures were cautiously lower ahead of Tuesday's opening bell as traders digested economic data while the Federal Reserve is set to kick off its two-day policy meeting to decide on interest rates.

Dow Jones Industrial Average futures declined 0.1%, S&P 500 futures were flat, and Nasdaq futures fell 0.1%.

Oil prices fell, with front-month global benchmarks North Sea Brent crude and US West Texas Intermediate crude both down less than 1% on expectations that further rate increases could slow the economy and weaken demand for oil.

At 8:30 am ET, data showed a 1% increase in the Employment Cost Index for Q4 following a 1.2% build in the preceding quarter, below estimates for a 1.1% gain, according to data compiled by Bloomberg.

Scheduled for release at 9 am ET, forecasters see the S&P CoreLogic house price index dropping 0.65% in November versus the previous month's 0.52% decline.

At 9:45 am ET, the Chicago Purchasing Managers' Index is due for release with forecasters calling for a 45.1 reading for January versus 44.9 in December.

The Consumer Confidence Index, slated for 10 am ET, is expected to inch higher in January to 109.0 from 108.3 in the preceding month.

In other world markets, Japan's Nikkei closed 0.4% lower, Hong Kong's Hang Seng closed 1% lower, and China's Shanghai Composite closed 0.4% lower. Meanwhile, UK's FTSE 100 fell 0.5% and Germany's DAX index declined 0.3% in Europe's early afternoon session.

In equities, Motorsport Games (MSGM) shares increased 210% a day after the company signed a debt-for-equity exchange agreement with a major stockholder. Hillstream BioPharma (HILS) shares more than doubled after the company signed an exclusive option deal with Dana-Farber Cancer Institute for a potential license for a technology targeting drug-resistant cancers.

On the losing side, Pfizer (PFE) shares declined 2.7% after the company issued fiscal 2023 guidance below analysts' expectations. Caterpillar (CAT) shares dropped 0.2% after the company reported Q4 adjusted profit that trailed analysts' estimates.

8:06am ET, 1/31/2023 - Upcoming Data Deluge, Fed Meeting Pressuring US Equity Futures
US equity futures were lower Tuesday as traders awaited a string of readings on the US economy while the Federal Reserve is set to kick off its two-day policy meeting to decide on interest rates.

Dow Jones Industrial Average futures declined 0.3%, S&P 500 futures fell 0.2%, and Nasdaq futures tumbled 0.3%.

Oil prices fell, with front-month global benchmarks North Sea Brent crude and US West Texas Intermediate crude both down less than 1% on expectations that further rate increases could slow the economy and weaken demand for oil.

At 8:30 am ET, data are expected to show a 1.1% increase in the Employment Cost Index for Q4 following a 1.2% build in the preceding quarter, according to data compiled by Bloomberg.

Scheduled for release at 9 am ET, forecasters see the S&P CoreLogic house price index dropping 0.65% in November versus previous month's 0.52% decline.

At 9:45 am ET, the Chicago Purchasing Managers' Index is due for release with forecasters calling for a 45.1 reading for January versus 44.9 in December.

The Consumer Confidence Index, slated for 10 am ET, is expected to inched higher in January to 109.0 from 108.3 in the preceding month.

6:49am ET, 1/31/2023 - Global Caution Pressures European Bourses Midday
European bourses tracked lower midday Tuesday as traders awaited policy decisions this week from the Federal Reserve and the European Central Bank, and weighed softening values in the global tech sector.

Oil and tech issues led decliners, while bank and food stocks gained.

Trading-floor denizens also eyed Wall Street futures flashing red, and lower closes overnight on Asian exchanges.

The euro zone gross domestic product rose 0.1% in Q4 from Q3, and by 1.9% on year, Eurostat reported. In the broader European Union, Q4 GDP was flat with Q3, but up 1.8% on year.

The pan-continental Stoxx Europe 600 Index was off 0.9% mid-session.

The Stoxx Europe 600 Technology Index was off 1.2%, but the Stoxx 600 Banks Index rose 0.3%.

The Stoxx Europe 600 Oil and Gas Index was off 1.2%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.2%.

The REITE, a European REIT index, fell 1.1%, and the Stoxx Europe 600 Insurance Index lost 0.8%.

On the national market indexes, Germany's DAX was off 0.8%, and the FTSE 100 in London was down 1%. The CAC 40 in Paris was off 0.8%, and Spain's IBEX 35 lost 0.5%.

Yields on benchmark 10-year German bonds were steady, near 2.31%.

Front-month North Sea Brent crude-oil futures were down 1.3% to $83.77 per barrel.

The Euro Stoxx 50 volatility index was up 4.9% to 19.65, indicating marginally below-average volatility for European stock markets in the next 30 days. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges. The volatility index was notching over the 30-marker in late September.