- European stocks sank as German economic statistics highlighted the hard backdrop for corporate profits ahead of a series of policymakers' remarks at the World Economic Forum in Davos this week.
- The STOXX Europe 600 index fell 0.3%, extending a lacklustre start to the year after a 13% rise in 2023. Consumer goods and carmakers led the decline after Germany's economy avoided a recession, though the latest data showed it contracted for the first time since the pandemic last year. Germany's 10-Yr yield increased by about five basis points as bonds across the eurozone fell.
- US equity-index futures were flat, with stock and Treasury cash markets closed for a federal holiday on Monday, but the dollar index crept higher.
- Oil fell in price as the possibility that US and allied air attacks against the Houthis will spark a larger conflict and disrupt Middle Eastern crude flows was offset by weaker fundamentals.
