Investing.com - Here are the top five things you need to know in financial markets on Thursday, February 9:
1. Global stocks push higher
In Asia, markets climbed to their highest in more than 18 months, as investors grew more confident about China. However, Japan's Nikkei bucked the trend, ending lower amid nervousness before Prime Minister Shinzo Abe’s meeting with U.S. President Donald Trump in Washington on Friday.
Meanwhile, European equities advanced in mid-morning trade, with Germany's DAX up 0.3%, as earnings season continues to be the main focus for investors.
Elsewhere, U.S. stock market futures pointed to a slightly higher open on Thursday morning, as investors awaited the next run of major earnings while awaiting further clarity on the Trump Administration's policies.
Earnings from Twitter (NYSE:TWTR), Coca-Cola (NYSE:KO), Kellogg (NYSE:K), Viacom (NASDAQ:VIA), Nvidia (NASDAQ:NVDA) and Expedia (NASDAQ:EXPE) are expected in one of the last big blasts of the earnings season.
On the data front, weekly jobless claims will be released at 8:30AM ET (13:30GMT), followed by wholesale inventories at 10AM ET (15:00GMT).
2. Trump to meet with airline executives
Airline CEOs visit the White House Thursday morning, the latest industry to speak to President Donald Trump.
The expected participants include the chief executives of Delta Air Lines (NYSE:DAL), JetBlue Airways (NASDAQ:JBLU), United Continental (NYSE:UAL), Atlas Air (NASDAQ:AAWW), Alaska Airlines and trade group Airlines for America, along with top officials from FedEx (NYSE:FDX) and United Parcel Service (NYSE:UPS).
The meeting comes at a time of heightened tension within the industry after U.S. carriers raised concerns about ongoing trade agreements with foreign carriers.
In other Trump-related news, the U.S. president broke the ice with China, writing a letter to Chinese President Xi Jinping, saying he looks forward to working with him to build a "constructive relationship that benefits both the United States and China."
Trump and Xi have yet to speak directly since Trump took office on January 20.
3. Earnings relief for European banks
French lender Societe Generale (PA:SOGN) reported a fourth-quarter net profit figure of €390 million ($417 million), ahead of analysts expectations. Chief Executive Officer Frédéric Oudéa said that he viewed the performance as very strong and noted the past quarter was the best for operating income in the past decade.
Its shares were higher by around 2% in Paris.
Germany's Commerzbank (DE:CBKG) also beat quarterly profit forecasts. Germany's second-largest lender behind Deutsche Bank (DE:DBKGn) reported a fourth-quarter net profit of €183 million ($195 million), beating analysts' average forecast for €154 million.
Shares were slightly higher on Thursday morning but soon dropped as much as 3% after the bank's CFO said that expectations are that 2018 will bring a moderate negative capital impact.
4. Brexit bill passes major hurdle in parliament
Britain's House of Commons has given final approval to a bill authorizing the government to start exit talks with the European Union, without attaching extra conditions, such as protecting EU citizens in the U.K.
The bill now goes to the House of Lords, which has the power to delay, but not derail, the legislation, and will also debate several amendments.
It is expected to come into law by March 7, which would allow Prime Minister Theresa May to invoke article 50 by her March 31 deadline.
The pound was up 0.2% against the dollar at 1.2566.
5. Oil extends post-supply data rally
Oil prices were higher on Thursday, extending gains from the prior session when an unexpected draw in U.S. gasoline inventories sparked a rally.
U.S. crude rose 56 cents, or around 1.1%, to $52.91, while Brent rose 62 cents to $55.74 a barrel.
The U.S. Energy Information Administration said on Wednesday gasoline inventories fell by 869,000 barrels last week to 256.2 million barrels, versus analyst expectations for a 1.1 million-barrel gain.
However, the EIA report also showed that U.S. crude stockpiles rose by 13.8 million barrels to 508.6 million barrels.