Tesla is recalling nearly all the electric vehicles it has sold in the U.S. because the font for some visual warning lights is too small, marking another safety setback for the world’s most valuable automaker. U.S. auto-safety regulators also are stepping up their investigation into reports of drivers losing steering control in newer Tesla Model 3 and Y vehicles. “Warning lights with a smaller font size can make critical safety information on the instrument panel difficult to read, increasing the risk of a crash,” the National Highway Traffic Safety Administration said. The recall affects about 2.19 million vehicles sold between 2012 and 2024. Tesla said impacted vehicles will receive an over-the-air software fix, which is a type of remedy sent through a wireless connection. The company isn’t aware of any crashes related to the warning-light issue, it said. Tesla didn’t respond to a request for comment. The company’s shares were down less than 1% Friday.

The Switzerland market ended modestly higher on Friday after holding in positive territory right through the day's session. The benchmark SMI, which moved between 11,231.49 and 11,300.86, ended with a gain of 25.77 points or 0.23% at 11,239.68. UBS Group climbed 2.63%. ABB, Zurich Insurance Group and Logitech International ended higher by 1.1 to 1.3%. Swiss Life Holding, Swiss Re, Holcim and Lonza Group advanced 0.6 to 0.75%. Kuehne & Nagel ended down 1.45%. Givaudan, Geberit and Novartis lost 0.8 to 1%. Sonova, Partners Group, Alcon and Sika ended nearly 0.5% down. In the Mid Price Index, Meyer Burger Tech soared more than 12%. Avolta gained about 2.15%. Flughafen Zurich, Baloise Holding and Georg Fischer gained 1.4 to 1.65%. Adecco, Julius Baer, SIG Combibloc, Temeons Group and Helvetia posted moderate gains. Straumann Holding and Tecan Group lost 2.1% and 1.9%, respectively. Swatch Group and Galenica Sante both ended nearly 1.5% down. Ems Chemie Holding, VAT Group, Clariant and ams OSRAM AG also ended weak.

Europe
European stocks ended on a mixed note on Friday with investors continuing to digest recent central bank policy announcements, and reacting to stronger than expected U.S. non-farm payrolls data that has raised doubts about an interest rate cut by the Federal Reserve anytime soon. The pan European Stoxx 600 edged up 0.01%. Germany's DAX climbed 0.35%, France's CAC 40 crept up 0.05%, and the U.K.'s FTSE 100 edged down 0.09%. Switzerland's SMI advanced 0.23%. Among other markets in Europe, Austria, Denmark, Finland, Iceland, Norway and Portugal ended weak. Belgium, Greece, Poland, Spain, Sweden and Turkiye closed higher, while Netherlands and Russia ended flat. In the UK market, Barclays Group, Rolls-Royce Holdings, Tesco, Sainsbury J and BT gained 2.3 to 3.5%. Vodafone Group, GlaxoSmithKline, F&C Investment Trust, Diageo, British American Tobacco, WPP and Prudential ended higher by 1 to 2%. Endeavour Mining drifted down more than 3%. Mondi, Fresnillo, Ocado Group, Anglo American Plc, BP, Croda International, JD Sports Fashion, Royal Dutch Shell, Glencore, Centrica, Antofagasta, Rio Tinto and National Grid lost 1 to 2.6%. In the German market, Porsche rallied 4.2%. Deutsche Bank climbed about 3.3%, Zalando gained 2.7% and Mercedes-Benz advanced 2.3%. Adidas gained more than 1% after the sportswear giant said that it intends to sell the remaining stock of Yeezy sneakers from its discontinued collaboration with Kanye West, at a minimum of the production cost. Commerzbank, Puma, Bayer, Volkswagen, BASF, Infineo, BMW and MTU Aero Engines also ended notably higher.

United States
Stocks moved sharply higher over the course of the trading day on Friday, extending the recovery rally seen during trading Thursday's session. The major averages more than offset the steep drop seen on Wednesday, with the Dow and the S&P 500 reaching new record closing highs. The major averages pulled back off their best levels going into the close but remained in positive territory. The Nasdaq surged 267.31 points or 1.7 percent to 15,628.95, the S&P 500 jumped 52.42 points or 1.1 percent to 4,958.61 and the S&P 500 climbed 134.58 points or 0.4 percent to 38,654.42. For the week, the Nasdaq shot up by 1.1 percent, while the Dow and the S&P 500 both jumped by 1.4 percent. The extended rally on Wall Street came amid a positive reaction to earnings news from Facebook parent Meta Platforms (META) and online retail giant Amazon (AMZN). Shares of Meta are soared by 20.3 percent after the company reported better than expected fourth quarter results, announced its first-ever quarterly dividend and authorized a $50 billion share buyback. Amazon also spiked by 7.9 percent after reporting fourth quarter results that exceeded analyst estimates on both the top and bottom lines. Traders were also reacting to a closely watched report from the Labor Department showing much stronger than expected job growth in the month of January. The Labor Department said non-farm payroll employment spiked by 353,000 jobs in January compared to economist estimates for an increase of about 180,000 jobs.

Asia
Following the sell-off in US bonds at the end of the week in the wake of a strong US labour market, the weakness on the bond market continued on Monday. As a result, the Nikkei-225 rose by 0.7 per cent to 36,402 points. Automotive stocks are then also among the market pillars: Mazda Motor, for example, gains 3.5 per cent. Rising market interest rates also give a boost to financial stocks. Mitsubishi UFJ Financial gained 2 per cent. The yield on ten-year Japanese government bonds rises by 5.5 basis points to 0.710 per cent.

Bonds
In the bond market, treasuries have pulled back sharply after moving notably higher over the past several sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 18.4 basis points at 4.047 percent.

Analysis
BoA raises the Easyjet target to 730 (690) p – Buy
UBS raises the Vontobel target to CHF 58 (56) – Neutral
UBS lowers the ING target to EUR 16.30 (17.10) – Buy

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