Weekly Review (May 24-28)
STOCKS
Earlier in the week, Wall Street stocks slipped marginally as investors reacted to a weaker-than-expected reading on consumer confidence. The Conference Board said its U.S. consumer-confidence index slipped to 117.2 in May from a revised 117.5 a month. On Thursday, US equities finished mostly higher, as market players cheered upbeat economic data out of the United States. The number of Americans who filed for unemployment benefits fell last week to a fresh pandemic low of 406,000 while the U.S. economy grew at a 6.4% annual rate in the first quarter. On the negative side, sales of durable goods fell 1.3%. As such, the S&P 500 rose 0.12%, the Dow Jones Industrial Average gained 0.41%, and the Nasdaq shed just 0.01%. In Europe, stocks climbed to fresh all-time highs on Friday.
28.05.2021
1540
Weekly Review (May 17-21)
STOCKS
This week, stocks were mostly on the defensive amid persisting inflation concerns. On Wednesday, Wall Street stocks closed lower and Treasury yields rose as minutes showed Federal Reserve officials were cautiously optimistic about the U.S. recovery at their April meeting. Of note, some officials signaled they’d be open at some point to discussing scaling back the central bank’s bond purchases. A hawkish hint sent stocks lower at the close. On Thursday, US markets broke a three-day losing streak, finishing higher after the latest U.S. jobs data showing fewer Americans filing for unemployment benefits. Initial jobless claims fell 34,000 to 444,000 in the week ended May 15, the lowest level of claims since March 2020. As such, the S&P 500 gained 1.06%, the Dow Jones Industrial Average added 0.55%, and the technology-heavy Nasdaq climbed 1.77%.
21.05.2021
1694
Weekly Review (April 26-30)
STOCKS
It was a slow start to a busy week marked by a series of economic data, earnings reports, and the Federal Reserve meeting. During the week, investor sentiment was mixed, driven by contradictory drivers. The Federal Reserve opted to keep rates near zero, as expected while Jerome Powell vowed to keep benchmark interest rates near zero and said the policy will stay accommodative for some time, despite rising inflation. He also stressed that the vaccination push in the U.S. strengthened the economy. On Thursday, Wall Street stocks finished higher, to register fresh all-time highs amid strong economic data. The U.S. gross domestic product expanded at a 6.4% annualized rate in the first quarter, while jobless claims fell last week to a fresh pandemic low. As a result, the S&P 500 and the Dow Jones Industrial Average added 0.70% each, while the Nasdaq gained 0.22%.
30.04.2021
1903
Weekly Review (April 19-23)
STOCKS
Global stocks were mostly lower since the start of the week as investors expressed worries about a rise in inflation and renewed coronavirus infections that prompt some countries to reimpose lockdowns. Of note, the World Health Organization warned that global coronavirus infections were edging toward their highest level in the pandemic. the downside pressure has intensified on Thursday following a report that President Joe Biden will propose raising taxes on wealthy investors. The tax plan would raise the capital gains tax to 39.6% for investors who make more than $1 million. On the positive side, the Labor Department reported the number of Americans applying for unemployment benefits fell again last week to its lowest level since the pandemic began.
23.04.2021
1830
Weekly Review (April 12-16)
STOCKS
Global stocks surged to fresh all-time highs this week, as investors cheered further retreat in bond yields and upbeat data out of major economies. U.S. government reported consumer prices increased by 0.6% in March, the fastest rate since 2012. Retail sales jumped 9.8% in March from February, exceeding forecasts for 5.5% growth. The job market report showed 576,000 people applied for unemployment benefits last week, the lowest number since the pandemic. Furthermore, big U.S. companies reported even healthier profits for the first quarter than analysts had forecast. Against this backdrop, the S&P 500 gained 1.11%, the Dow Jones Industrial Average added 0.90%, and the Nasdaq Composite surged 1.31%. In China, the Shanghai Composite added 0.81% after the data showed that the Chinese economy grew 18.3% growth in the first quarter, though the reading was slightly lower than expected, while retail sales rose strongly last month.
16.04.2021
1973
Weekly Review (April 5-9)
STOCKS
The week was mostly upbeat for global markets due to dovish comments from the Fed and strong economic data. a gauge of U.S. services activity hit a record high, sending Wall Street stocks to fresh all-time tops. In the Eurozone, April’s Sentix investor confidence arrived at 13.1 versus 6.7 expected, jumping to its highest since August 2018. In its minutes from the March meeting, the Federal Reserve officials indicated that despite an improving economy, the easy policy will stay in place until it produces stronger employment and inflation. In China, posted a weekly loss, as robust inflation data raised investor concerns over policy tightening. The renewed US-China tensions also weighed on investor sentiment.
09.04.2021
2016
Weekly Review (March 29-April 02)
STOCKS
Following an uneven first half of the week, global stock markets turned broadly positive ahead of the weekend. Investors managed to eventually shrug off the rise in US Treasury bond yields and the US dollar index during the week as they focused on the positive effects of the US’ plans to spend $2.3 trillion on building infrastructure. The 10-year Treasury note yield tumbled from recent peaks to 1.676%. Also on the positive side, the US ISM manufacturing PMI jumped to a 38-year high of 64.7 in March from 60.8 in the prior month. As such, the S&P 500 index finished above 4,000 for the first time on Thursday, while the Dow Jones Industrial Average and the Nasdaq Composite gained 0.52% and 1.76%, respectively. U.S. exchanges are closed for the Good Friday holiday.
02.04.2021
2137
Weekly Review (March 22-26)
STOCKS
For the most part of the week, investor sentiment was weighed down by worries about new lockdowns and a slow pace of vaccination in Europe, as many countries faced the resurgent rise in coronavirus cases. However, optimism about a stimulus-driven recovery in the United States brightened the outlook for global growth, driving global stocks higher late Thursday. Wall Street stocks shrugged off early losses as the Labour Department data that showed claims for unemployment benefits dropped to a one-year low last week. Adding to the positive tone, Biden said that his administration is aiming to distribute 200 million doses of Covid-19 vaccines in its first 100 days, doubling the original goal. In Asia, stocks bounce from three-month lows seen earlier in the week, as investors shrugged off rising tensions between the West and China.
26.03.2021
2344
Weekly Review (March 15-19)
STOCKS
Following mixed but mostly positive trading during the week, global stocks came under severe selling pressure late on Thursday. Wall Street stocks fell dramatically overnight amid widespread risk aversion due to another spike in bond yields that fueled concern about rising inflation. The yield on the 10-year Treasury note rose to its highest level in more than a year above 1.7% before easing slightly. Also on the negative side, representatives of the world's largest economies US and China representatives criticized each other’s civil rights record, putting in doubt a summit between the two presidents. As such, the Nasdaq Composite slumped 3% on Thursday while showing recovery attempts ahead of the weekend.
19.03.2021
2477