Weekly Review October 14-18
STOCKS
US stocks saw fresh record highs last week to finish on positive note on Friday, with tech sector gaining due to Netflix as the company delivered spectacular earnings. The streaming giant's profit, revenue and subscriber growth came in stronger than expected to push its shares 11% higher to fresh all-time highs above the $760 mark. As for the benchmarks, the S&P 500 added 0.4% and recorded a fresh record high and its sixth straight week of gains. The tech-heavy Nasdaq Composite gained 0.6%, while the Dow Jones Industrial Average rose 0.1% after hitting a new closing high during the previous session. For the week, the S&P 500 added 0.9%, the Nasdaq Composite advanced 0.8%, and the Dow Jones jumped 1%. In Europe, the DAX 30 reached a new high following the ECB’s third rate cut of the year on Thursday. The Euro Stoxx 600 rose by 0.98% during the week. On the negative side, Chinese stocks extended their decline as additional stimulus measures failed to impress investors.
21.10.2024
327
Weekly Review (September 9-13)
STOCKS
US stocks advanced on Friday to finish the week in the green as risk demand dominated global markets. The S&P 500 added more than 0.5% to settle less then 1% from its historic high registered in July. The Dow Jones rallied 0.72% and the tech-heavy Nasdaq gained 0.65%. Tech and semiconductor stocks were leading the gains after a solid sell-off seen during the previous week. On the data front, US inflation continued to soften last month, falling to its lowest level since February 2021. The CPI rose at an annual rate of 2.5% in August – down from 2.9% in July, and below the 2.6% expected by economists. On a monthly basis, the index rose 0.2%, the same as in July. For the week, the S&P 500 added 4%, the Nasdaq Composite jumped nearly 6%, and the Dow advanced 2.6%. Of note, both the S&P 500 and the Nasdaq Composite posted their strongest week of 2024. In Europe, equities rallied to rebound from earlier losses in the week after the ECB delivered a second rate cut of the year. On a weekly basis, the Euro Stoxx 600 added 0.15%, the FTSE 100 gained 0.73%, while the Dax 30 and the CCA 40 climbed by more than 1% each.
13.09.2024
539
Weekly Review (August 12-16)
STOCKS
US stocks saw their strongest weekly gains of 2024 to break a four-week losing streak as volatility ebbed. Investor sentiment continued to improve last week due to the latest US data that pointed to falling inflation and still resilient consumer. The CPI in July increased 2.9% on a yearly basis to come in below 3.0% for the first time since early 2021. Wholesale prices came in better than forecast to rise 2.2% last month. Meanwhile, US retail sales came in at 1.0% month-over-month in July, surpassing consensus forecast for around 0.4%. Of note, sales increased by the most in 1-1/2 years. Also on the positive side, initial jobless claims declined relative to the previous week to mark a one-month low. Against this backdrop, the Dow Jones rose 3% and the S&P 500 added 4%. Of note, the blue-chip index is now just 2% below its all-time high registered a month ago. The Nasdaq Composite jumped more than 5% for the week to outperform its peers due to the tech sector's 7.6% average gain.</p>
16.08.2024
461
Weekly Review (July 22-26)
STOCKS
After a solid start to the week, when tech companies recovered from a deep sell-off, Wall Street stocks plunged to suffer their worst losses in over two years as investors were disappointed by quarterly reports from Tesla and Alphabet. Tesla shares saw their worst day since 2020 on Wednesday on weaker-than-expected results. Shares of Google parent company saw their biggest one-day drop since late-January as Alphabet’s YouTube advertising revenue came in below than expected. Adding to the pressure surrounding Alphabet, OpenAI announced a search engine called SearchGPT. Ahead of the weekend, however, Wall Street stocks managed to shrug off the weakness as investors cheered weaker U.S. inflation numbers. The Dow Jones rallied 1.64%, the S&P 500 climbed 1.11%, while the Nasdaq Composite gained 1.03%. For the week, the S&P 500 declined 0.8%, the Nasdaq lost 2.1%, while the Dow gained 0.8% to notch its fourth consecutive bullish week.
26.07.2024
774
Weekly Review (June 24-28)
STOCKS
US stocks were mixed at the start of the final week of the second quarter, with tech stocks pressured as Nvidia shares extended the slide, entering correction territory and thus raising concerns about whether the tech rally will continue. Ahead of the weekend, US markets were little changed as investors were indecisive ahead of a key inflation report. The S&P 500 added just 0.1%, climbing back toward an all-time high. The Dow Jones Industrial Average gained about 0.1% as well, while the tech-heavy Nasdaq Composite led the gains, advancing 0.3%. On the data front, initial weekly jobless claims came in at 233,000, a decrease of 6,000 from the previous week. Real GDP, meanwhile, increased at an annual rate of 1.4% in the first quarter to come in slightly higher than the prior estimate of 1.3%. Now, investors await the PCE inflation print that will affect the Fed's thinking on the timing of rate cuts.
28.06.2024
1041
Weekly Review (June 17-21)
STOCKS
US stocks were mostly bullish during the week and thus seeing a follow through from last week’s gains amid a combination of signs of a resilient economy and optimism around a growing likelihood of the potential start of rate cuts by the Fed. On Thursday, however, Wall Street equities ended mostly lower amid near-term overbought conditions. After a brief break above the 5,500 figure, the S&P 500 gave up gains and finished 0.25% lower. The Nasdaq Composite fell 0.8% after Nvidia failed to preserve initial gains amid some profit-taking. The company’s stock gave fell 3.5% to put at risk an eight-week winning streak. Bucking the trend, the Dow Jones gained 0.8%. For the week, the S&P 500 is up 0.8%, the Dow gains 1.4%, while the Nasdaq is up 0.2%. In Asia, Japan’s benchmark Nikkei 225 gave up 0.07% after the data showed that the inflation rose to 2.5% in May, up from 2.2% in April, suggesting the Bank of Japan could raise rates at a meeting next month.
21.06.2024
1122
Weekly Review (June 10-14)
STOCKS
Global investors were focused on the US events this week. Fresh data showed that US producer price inflation marked the largest monthly decrease since October last month, dropping 0.2% against estimates for an increase of 0.1%. A separate report showed that weekly jobless claims rose to its highest level in 10 months last week, with 242,000 people applying for unemployment. Those numbers make it more likely the Fed could start cutting interest rates in the coming months, which is positive for risky assets. The central bank itself said that they want more good data to gain more confidence to enable it to start slashing interest rates. US stocks were mostly higher on Thursday to see another record close as the mentioned data bolstered the case for rate cuts by the Federal Reserve. The S&P 500 rose 0.2%, beating another all-time high. The Nasdaq Composite climbed 0.3%, while the Dow Jones Industrial Average bucked the trend to shed 0.2%.
14.06.2024
1073
Weekly Review (June 3-7)
STOCKS
Global stocks were mostly mixed this week, bucking the positive trend to begin June’s trading. At the start of the week, US investors were disappointed by weak economic data. The ISM manufacturing PMI came in at 48.7 in May to shrunk for the 18th time in 19 months. On Thursday, US equities closed mixed as investors were cautious in anticipation of key jobs figures later in the day. The release is expected to show a slight acceleration in hiring and average hourly wage gains from the month before. The Nasdaq was down 0.09% after finishing the previous session at a record-high. The S&P 500 fell 0.02%, and the Dow Jones Industrial Average was up 0.2%. In individual stocks, shares of Five Below fell more than 10% as its profit and revenue last quarter fell short of expectations. In Asia, China's Shanghai Composite Index closed 0.08% higher after the data showed that the trade balance was well ahead expectations and the biggest trade surplus since February.
07.06.2024
1061
Weekly Review (May 27-31)
STOCKS
While US stock market was closed on Monday for Memorial Day holiday, European and Asian stocks were marginal higher at the start of the week. After mixed trading during the following sessions, Wall Street stocks closed lower on Thursday, weighed down by falling technology stocks. The S&P 500 fell 0.6%, the Dow Jones Industrial Average gave up 0.9%, and the Nasdaq Composite dipped 1.1%. In individual stocks, Salesforce shares plunged nearly 20% to see its biggest one-day drop in nearly 20 years in a reaction to the report that showed a quarterly revenue miss. The company also issued a soft annual sales outlook. For the week so far, the S&P 500 is down 1.3%, the Dow is down 2.5%, and the Nasdaq sheds 1.1%. In Asia, the Shanghai Composite index gave up 0.16% after early gains. The index was slightly pressured by a survey that showed the nation's manufacturing activity unexpectedly fell in May.
31.05.2024
1166