Fest in den Tag | Ergebnisse überwiegend solide

The broadcast opens with an overview of a positive market mood heading into the final trading day of the week. Key drivers include diplomatic signals suggesting a potential US-Iran de-escalation, which is pushing bond yields down and keeping oil prices relatively subdued. The presenter notes that de-escalation was always the most logical path for Donald Trump, citing Al-Arabiya reports that major hurdles in negotiations had been cleared.

A notable political-financial event highlighted is the ceremonial appointment of Kevin Warsh as Fed Chair, unusually taking place at the White House rather than at the Federal Reserve — the first such occurrence since Alan Greenspan's appointment in 1987. This is framed as Trump asserting influence over the Fed. The presenter notes Warsh will face immediate challenges at the June FOMC meeting given broad-based inflation pressures, including elevated PMI price indicators, though a potential Iran deal and slightly softer Japanese CPI data could provide some relief.

On the earnings front, the week delivered mostly solid results. Decker's Outdoor (parent of Hoka and UGG) beat earnings per share estimates (96 cents vs. 83 cents expected), announced a $5 billion stock buyback representing roughly one-third of its market cap, and guided for 8% sales growth versus the 6% expected — though margin concerns tempered the reaction. Hoka posted nearly 15% growth, and UGG revenues of $409 million exceeded the $375 million forecast. Ross Stores also delivered strong numbers and guidance, reflecting a consumer trend of trading down from premium to value retailers. Workday beat on sales and significantly outperformed on earnings per share and margins, with 12-month order volume above expectations — alleviating fears that AI disruption was eating into enterprise software demand. Take-Two Interactive confirmed a November 19th release date for Grand Theft Auto 6, beating on bookings, though full-year guidance of $8.1 billion was below Wall Street's $9 billion average estimate — widely interpreted as conservative management sandbagging. Zoom reported above-consensus sales and raised its annual outlook, with the presenter noting Zoom's $7.7 billion net cash position and strategic stakes in Anthropic and SpaceX as additional positives.

On the negative side, Walmart disappointed due to higher fuel costs eating into margins, and Intuit dropped 20% on fears that AI is undermining its tax software business. Kroger's new CEO announcing aggressive price cuts raised concerns about a potential supermarket price war, adding pressure to the grocery retail segment.

Looking ahead to the coming week, the US market is closed Monday for a holiday. The economic calendar is light except for the PCE inflation print on Thursday, which is expected to come in warm based on already-known CPI and PPI data. The earnings highlight of the week is Salesforce on Wednesday evening, which recently received a sell rating from Bank of America with a $160 price target — creating a low bar the company might more easily clear. Other key reports include Zscaler, Hewlett Packard, Marvell Technology, Snowflake, Synopsys, MongoDB, Autodesk, Dell, Best Buy, Abercrombie & Fitch, Dick's Sporting Goods, Dollar Tree, and Kohl's.

The presenter also highlights analyst optimism on several stocks: Spotify received raised price targets from Wells Fargo ($600), Morgan Stanley ($610), and JP Morgan ($650) following a landmark AI licensing deal with Universal Music Group. Dell saw Wells Fargo raise its target to $270, citing projected EPS of $17–$18 by 2028. Workday targets were raised by Jefferies ($140), KeyBank ($158), and Needham ($180). Estee Lauder shares rallied after a planned acquisition fell through due to investor opposition, with Citi raising its target to $110. Bill Ackman's Pershing Square was revealed to have taken a Microsoft position in February. The broadcast closes with a standard Bafin-compliant disclaimer that nothing in the video constitutes investment advice.