Weekly Review (October 24-28)
STOCKS Investor sentiment deteriorated in the second half of the week as global equities retreated after a solid rally. Wall Street stocks were mostly lower on Thursday as risk demand continues to wane. The Dow climbed 0.6%, driven higher by shares of Caterpillar and McDonald’s after the companies reported better-than-expected earnings. Meanwhile, the S&P 500 closed down 0.6% and the Nasdaq Composite lost 1.6%. In Asia, stocks snapped a three-day winning streak on Friday, with MSCI's broadest index of Asia-Pacific shares outside Japan down 1.56%. The Nikkei 225 in Tokyo index lost 0.88% amid reports that the Japanese government was preparing about $490 billion in stimulus spending to help the economy cope with inflation.
28.10.2022
1108
Weekly Review (October 17-21)
STOCKS Global stocks were mostly lower during the week, with Asian equities retreating to their lowest since 2020 amid persisting fears of aggressive interest rate hikes by the Federal Reserve. US markets closed lower on Thursday for the second day in a row as equities struggled to extend the ascent following a two-day winning streak amid the ongoing rise in Treasury yields. The 10-year Treasury yield traded around 4.136%, the highest level since July 2008. The Dow Jones Industrial Average slipped 0.30%, the S&P 500 fell 0.80% and the Nasdaq Composite shed 0.61%. In Europe, the selling pressure intensified amid political chaos in the UK following the resignation of Prime Minister Liz Truss. Meanwhile, EU leaders keep debating how to tackle the region’s energy crisis as they meet in Brussels. The Stoxx 600 is 1.5% down on Friday, while all sectors and major bourses are in the negative.
21.10.2022
1119
Weekly Review (October 10-14)
STOCKS Global stocks were mostly on the defensive during the week as recession fears stayed elevated. US stock indexes finished traded under pressure as minutes from the Federal Reserve’s September meeting raised concerns that the central bank will continue to aggressively tighten monetary policy. Meanwhile, US PPI slowed to 8.5% from 8.7% while the monthly core rate rose 0.4%, above forecast. The data has worsened fears that the Fed’s aggressive policy may steer the US economy into a recession. However, equities bounced on Thursday as risk sentiment improved across the markets ahead of the weekend. The Dow Jones Industrial Average rose 2.83%, the S&P 500 climbed 2.60%, breaking a six-day losing streak, whike the Nasdaq Composite gained 2.23%.
14.10.2022
1121
Weekly Review (October 3-7)
STOCKS
Earlier in the week, global stocks rallied briefly as risk sentiment improved while bond yields continued to fall. The 10-year Treasury yield traded at about 3.63%, down from more than 4% last week. In individual stocks, shares of Twitter jumped more than 22% after Elon Musk agreed to purchase the social media giant for the price of $54.20 a share. However, the risk-on tone has abated since then, with most equities on the defensive. As such, Wall Street stocks finished lower on Thursday as Treasury yields resumed the ascent as investors digested a batch of hawkish remarks from Federal Reserve officials. The benchmark 10-year rate exceeded the 3.8% figure while the 2-year yield topped 4.2%. The Dow Jones Industrial Average fell 1.15%, the S&P 500 lost 1.02%, while the Nasdaq Composite dropped 0.68%. during the session. Still, all of the major benchmarks are on pace to end the week with their best weekly gains since June.
07.10.2022
1168
Weekly Review (September 26-30)
STOCKS Stock markets saw a turbulent and bearish week as risk aversion dominated global financial markets. The selling pressure on Wall Street intensified after hawkish comments from Fed officials. On the data front, US new home sales came in at 685,000 in August, beating consensus expectations. Meanwhile, the CB’s consumer confidence indicator jumped to the highest level since April. US equities came under renewed pressure on Thursday after short-lived recovery as recession fears intensified, sending the S&P 500 to a new low for the year. The S&P 500 declined 2.1%, the Dow Jones Industrial Average plunged 1.54%, and the tech-heavy Nasdaq Composite fell 2.84%. Shares Apple, gave up nearly 5% after Bank of America downgraded the stock from buy to neutral and cut the price target from $185 to $160 per share, citing the anticipated weaker consumer demand over the next year.
30.09.2022
1095
Weekly Review (September 19-23)
STOCKS After a short-lived bounce, global stocks came under renewed selling pressure in the aftermath of the Fed meeting. Wall Street stocks plunged on Wednesday as investors digested the Fed’s decision and the latest comments from Powell’s press conference. The Federal Reserve raised rates by 75 basis points and forecast more sizable rate hikes, spooking investors by its hawkish plan to hike rates to 4.4% by next year. Ahead of the weekend, equities remained on the defensive. The S&P 500 slid 0.8%, the Nasdaq Composite shed 1.4%, and the Dow Jones Industrial Average closed 0.3% lower on Thursday. Since the start of the week, the Dow is down more than 2.4%, while the S&P and Nasdaq have tumbled over 3% each. In Europe, stocks were also in negative territory after the Bank of England and the Swiss National Bank hiked rates by 50 basis points each.
23.09.2022
1364
Weekly Review (September 12-16)
STOCKS
Global stock markets were mostly on the defensive during the week as US data spooked investors. The official report showed that US consumer price index rose 8.3% over the prior year and 0.1% over the prior month while economists had expected a decline of 0.1% over the prior month to 8.1% on a yearly basis. Following the release, investors are pricing in an 70% chance of a 0.75% rate hike next week and an 30% chance of a 1% rate hike by the Fed. The blow from inflation report was felt across the financial markets, with Wall Street indices seeing their worst session since June 2020. Following massive sell-off, US stocks steadied, but the pressure reemerged ahead of the weekend. Adding to bearish sentiment, recession fears resurfaced as the World Bank and the IMF both warned of a potential recession in the coming months. As such, the Nasdaq Composite shed 1.43%, the S&P 500 fell 1.13%, and the Dow Jones dropped 0.56% on Thursday.
16.09.2022
1227
Weekly Review (September 5-9)
STOCKS
After mostly negative start to the week, global stocks turned positive ahead of the weekend as risk aversion has abated, albeit aggressive signals from the Federal Reserve capped broader gains. In his latest remarks, the Fed Governor Powell signaled that a pause in rate hikes or a pivot to cutting interest rates is not coming soon. Still, the Dow Jones Industrial Average jumped 0.61%, the S&P 500 rose 0.66%, and the Nasdaq Composite advanced 0.60%. In a wider picture, however, US stocks remain in a downtrend overall amid persisting concerns about a slowing economy. Earlier in the week, investors were spooked by strong US data. August non-manufacturing PMI rose to 56.9 from 56.7 in July, topping expectations calling for a decline to 55.1. As such, the report reinforced expectations for aggressive Federal Reserve rate hikes.
09.09.2022
1110
Weekly Review (August 29-September 2)
STOCKS After four sessions of losses, US stocks were mostly positive on the first day of autumn as risk aversion has ebbed somehow. The Dow Jones rose nearly 0.5%, the S&P 500 gained 0.3%, while the Nasdaq Composite fell about 0.3% on Thursday, to post a first five-day losing streak. Still, all of the indices are on track to finish the week lower. In individual stocks, shares of Nvidia lost 7.7% amid reports that the US government is restricting some sales in China. Asian equities were mostly lower during the week to close mixed on Friday after China ordered residents of Chengdu to stay home following new virus outbreaks. Bucking the trend, European equities traded mixed-to-positive this week, but the overall cautious tone persisted anyway.
02.09.2022
1163