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
1086
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
1186
Weekly Review (May 20-24)
STOCKS
Stocks were mixed at the start of the week, with rallying tech stocks pushing the Nasdaq Composite index to fresh record highs. In general, investors were optimistic in anticipation of the Fed minutes of last monetary policy. In the minutes, central bank members indicated that they lacked the confidence to move forward on interest rate reductions. US stocks fell on Thursday after reaching fresh all-time highs earlier in the session, with the Dow Jones seeing its worst day of 2024 to finish 1.53% lower. The S&P 500 dropped 0.74%, and the Nasdaq Composite gave up 0.39%. risk sentiment deteriorated after fresh data showed US business activity grew at its fastest pace in more than two years in May, suggesting the Fed may delay interest rate cuts amid a resilient economy. Asian equities were also lower ahead of the weekend following mixed results during the week. The MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5% and was on course for a 1% weekly decline.
24.05.2024
1113
Weekly Review (May 13-17)
STOCKS
This week, US stocks jumped to record highs amid signs of slowing inflation. All three major stock indexes finished at their highest-ever levels for the first time in nearly two months on Wednesday. The consumer price index increased 0.3% from March, slightly below the estimate of 0.4%. Consumer prices are still rising 3.4% from a year ago. A weaker-than-expected CPI number increased the chance of a rate cut by the Fed. After the report, around 70% of traders expect at least one cut by the September meeting. However, risk sentiment has deteriorated across the financial markets overnight after Fed officials suggested that rates may need to stay higher for longer even as inflation shows signs of easing. The Dow Jones finished the day 0.1% lower, the S&P 500 index slipped 0.2% and the Nasdaq Composite fell 0.3%. Despite the weak end to the session, the indexes are on track to end the week with gains. For the week, the S&P 500 is up 1.4%, the Dow gains 0.9%, and the Nasdaq is up 2.2%.
17.05.2024
1213
Weekly Review (May 6-10)
STOCKS At the start of the week, markets were inspired by weak US jobs numbers which raised optimism about the possibility of rate cuts this year. US employers added just 175,000 jobs in April, much lower than expected. Later, investor sentiment was somehow undermined by hawkish comments from a Fed official. In particular, Minneapolis Fed President Kashkari said that the central bank could potentially keep interest rates unchanged for the rest of the year. The statement sparked questions over the timing of potential interest rate cuts, adding to uncertainty in the financial markets. On Thursday, however, US stocks closed higher as markets got a boost after weekly jobless claims came in higher than expected. The Dow Jones Industrial Average added 0.8% to hit its seventh day of gains. The S&P 500 index climbed 0.5% to trade less than 1% away from its all-time high, while the Nasdaq Composite gained 0.3%.
10.05.2024
1087
Weekly Review (April 29-May 3)
STOCKS Global stocks were mostly lower after the Fed signaled it’s not planning to cut rates soon. After mixed-to-negative trading, Wall Street equities were higher on Thursday as investors shifted their focus from the Fed to the upcoming monthly jobs report. Markets cheered the news that Fed Chair Powell played down the likelihood of an interest-rate hike despite stubbornly high inflation. During the session, the S&P 500 rose 0.91%, the Dow Jones Industrial Average gained 0.85%, and the tech-heavy Nasdaq Composite led the gains, up 1.51%. in individual stocks, Apple jumped as much as 6% after hours as the company reported better than expected earnings per share and revenue for the prior quarter. Asian shares were mostly higher on Friday, while several major markets including Tokyo and Shanghai were closed for holidays. The Nikkei 225 shed 0.1% while the yen strengthened slightly against the US dollar amid signs of another central bank intervention.
03.05.2024
1103
Weekly Review (April 22-26)
STOCKS
US stocks rose at the start of the week, recovering their positions after the previous sell-off. The bounce was due to a rise in tech shares in combination with easing tensions in the Middle East after Iran said it will not escalate the conflict with Israel. However, sellers reemerged after a two-day winning streak. Wall Street equities finished lower on Thursday after the data showed that economic growth in the US is slowing and inflationary pressures are persisting. The US GDP slowed to 1.6% in the first quarter, a much weaker pace than expected. At the same time, the annualized GDP chain price jumped from 1.6% up to 3.1%. Against this backdrop, investors now project a longer wait for the first rate cut from the Federal Reserve. The S&P 500 fell 0.5% after paring an earlier drop of more than 1.5%. The Dow Jones Industrial Average lost 1%, and the Nasdaq Composite shed 0.6%. For the week, the S&P 500 is up 1.6%, the Dow gains just 0.3%, and the Nasdaq is up 2.2%.
26.04.2024
1184
Weekly Review (April 15-19)
STOCKS
Wall Street stocks were mostly lower during the week to finish mostly in negative territory on Thursday as investors continued to give up on hopes that the Federal Reserve will deliver a cut to interest rates in June amid strong economic data. By the way, a fresh report showed that fewer workers applied for unemployment benefits last week than expected in another sign that the job market remains resilient despite elevated interest rates. As such, the S&P 500 fell 0.2% to mark a fifth straight loss, which is the longest losing streak since October. The Dow Jones Industrial Average edged up 0.1%, and the Nasdaq Composite slipped 0.5%. In Asia, equities plunged on Friday as risk aversion intensified after Israel launched a retaliatory strike on Iran less than a week after Tehran’s rocket and drone attack. Leading losses in the region, Japan’s Nikkei 225 slumping 2.5% on aggressive selling of semiconductor-related shares.
19.04.2024
1273
Weekly Review (April 8-12)
STOCKS
Following mostly negative trading earlier in the week, US stocks rebounded on Thursday from a sell-off triggered by renewed worries about stubbornly high inflation, suggesting interest rates may stay high for a while. The Nasdaq Composite rose 1.7% to close at a record due to a rally in tech shares. Amazon climbed to an all-time high, topping its prior high set in 2021. The S&P 500 rose 0.7%, shedding just 0.1% for the week. Bucking the trend, the Dow Jones Industrial Average edged down by less than 0.1%. For the week, the Dow is down 1.1% and the Nasdaq is up 1.2% so far. In Asia, equities were mostly lower on Friday, with MSCI's broadest index of Asia-Pacific shares outside Japan slipping 0.67% to trim its gains for the week to less than 0.2%. Japan was the only real bright spot in the region, with the Nikkei 225 up 0.23%. South Korea’s Kospi shed 0.9% after the Bank of Korea held its benchmark rate unchanged at 3.50%.
12.04.2024
1095