Weekly Review (April 1-5)
STOCKS
Global stocks were mostly lower this week as market participants continued to fear the Federal Reserve could hold off on interest rate cuts. In recent trading, investor sentiment was dented by hawkish comments from a Fed official. Minneapolis Fed President Kashkari said that he wondered if the central bank should cut rates at all if inflation remained sticky. Against this backdrop, the Dow Jones lost 1.35% to suffer its worst session in more than a year. The index saw its fourth consecutive losing day on Thursday. The S&P 500 dropped 1.23% and the tech-heavy Nasdaq Composite dipped 1.40%. Following suit, Asian equities were mostly lower on Friday. Japan’s benchmark Nikkei 225 sank 2.4%, Sydney’s S&P/ASX 200 slipped 0.8%, South Korea’s Kospi dropped nearly 1.0% and Hong Kong’s Hang Seng lost 0.8%. Apart from Fed-related doubts, investors in the regional markets were nervous about tensions in the Middle East.
05.04.2024
1123
Weekly Review (March 25-29)
STOCKS
Wall Street stocks edged lower at the start of a shortened trading week as the market was cooling after last week’s rally which sent the indexes to record highs. As sentiment has improved marginally, US equities finished mostly higher in a mixed session on Thursday. The S&P 500 had its best first quarter since 2019 and also marked its best first-quarter performance in three years. The index added 0.1% to hit a fresh all-time high, gaining more than 10% in the first quarter. The Dow Jones also ticked up 0.1% and likewise set a record. The Nasdaq Composite dipped 0.1%. US stock and bond markets will be closed Friday. On the data front, the US economy grew at a solid 3.4% annual pace in the fourth quarter to exceed the previous estimate of 3.2%. In Asia, Tokyo’s Nikkei 225 rose 0.5% as Japanese stocks rebounded from yesterday’s drop, while Chinese telecommunications company Huawei said its net profit for 2023 more than doubled thanks to better product offerings. Net profit grew by 114.5% year-on-year to 87 billion yuan. The company’s shares rallied more than 3.5% after he report.
29.03.2024
785
Weekly Review (March 18-22)
STOCKS
Stock markets enjoy a mostly positive week with central banks on focus. US equities were higher on Monday as investors awaited fresh monetary policy guidance from the Federal Reserve. Tech giants were leading the gains at the start of the week, with Nvidia shares adding 0.7% on the first day of the company’s GTC Conference. On Thursday, all three major US stock indexes registered new record closes for the second day in a row to mark the fourth straight winning session. The buying pressure was driven by optimism from the Fed’s expectation for three rate cuts this year even after a couple of stronger-than-expected inflation reports. The Dow Jones closed up 0.7%, the S&P 500 index advanced 0.3%, and the Nasdaq Composite added 0.2%. For the week, the S&P 500 so far adds 2.4% and the Nasdaq is rising nearly 2.7%, while the Dow is almost 2.8% higher and on pace for its best week since late-last year.
22.03.2024
620
Weekly Review (March 11-15)
STOCKS
After a bearish start to the week, US stocks bounced before coming under renewed selling pressure ahead of the weekend as investors were disappointed by hot US inflation data. February’s PPI rose 0.6% versus the expected gain of just 0.3%. Core producer price index climbed 0.3% in February versus a 0.2% expected. The reading came on the heels of a strong consumer inflation report earlier this week. The data spurred more concerns over higher-for-longer interest rates. Now, investors are getting fearful of more hawkish signals from a Federal Reserve meeting next week. On Thursday, the Dow Jones pulled back 0.35%, the Nasdaq Composite fell 0.3%, while the S&P 500 slipped 0.29%. In Asia, Japan’s Nikkei 225 index fell 0.33% and was set for a 2.3% weekly decline ahead of the upcoming Bank of Japan meeting due next week. After hitting a record high earlier in the week, Australia’s ASX 200 slid 0.56% amid the ongoing profit-taking ahead of a Reserve Bank of Australia meeting next week.
15.03.2024
1077
Weekly Review (March 4-8)
STOCKS
After a weaker start to the week, stock markets turned positive again, retaining bullish bias ahead of the weekend. Earlier in the week, US equities retreated in anticipation of Powell’s monetary policy updates to the House of Representatives and to the Senate. Fed Chair said that the central bank is not far from delivering rate cuts, adding that the bank is just waiting for additional data to confirm inflation is cooling. Wall Street stocks rose on Thursday, staying bullish ahead of the release of the February jobs report. The Nasdaq Composite added 1.5% as tech stocks took the lead during the session, while the Dow Jones gained about 0.3%. The S&P 500 rallied more than 1% to hit another record closing high. In Asia, Japan’s benchmark Nikkei 225 gaining 0.25% after the data showed that household spending fell 2.1% month-on-month in January versus the expected increase by 0.4%. Sydney’s S&P/ASX 200 jumped 1.07% to hit a new record high, while the Shanghai Composite gained 0.61% despite no fiscal stimulus measures from Beijing.
08.03.2024
1104
Weekly Review (February 26 – March 1)
STOCKS
Earlier in the week, US stocks slid after a report showed that the U.S. economy grew a touch slower in the fourth quarter than earlier estimated. On Thursday, equities advanced to finish February on a positive note, with Nasdaq rising to its first closing record since November 2021. The tech-heavy index added 0.90% to close at an all-time high. The S&P 500 rose 0.52% to see a record close as well. The Dow Jones gained just 0.12% to add 2.22% for its first four-month winning streak in nearly three years. Investors cheered the report that suggested PCE inflation didn’t exceed estimates in January. Elsewhere, the Shanghai Composite index added 0.39% even as fresh data out of China showed that manufacturing activity contracted for the fifth consecutive month in February. In Europe, Germany’s DAX 30 added 0.42% after hitting a fresh all-time high in the previous session. Regional investors are now shifting their focus towards next week’s ECB meeting.
01.03.2024
959
Weekly Review (February 19-23)
STOCKS
United States stock markets were closed on Monday in honor of Presidents Day before finishing lower the next day. On Thursday, however, another rally in tech pushed the broader US market higher, with indexes surging to fresh record highs. The S&P 500 had its best day in over year, adding 2.1%, the Nasdaq Composite surged nearly 3% to settle within striking distance of its all-time closing high. The Dow Jones climbed 1.2% to close above 39,000 for the first time in history. In individual stocks, shares of Nvidia rallied more than 16% to new all-time highs after the chip giant reported stronger-than-expected quarterly results. The company said total revenue rose 265% from a year ago. The firm also forecast another stellar revenue gain for the current quarter. Inspired by Nvidia-led rally on Wall Street, Asian and European stocks were mostly higher ahead of the weekend.
23.02.2024
1112
Weekly Review (February 12-16)
STOCKS
Wall Street stocks fell sharply earlier in the week after unexpectedly strong US inflation data raised prospects that the Fed will keep interest rates high for longer than previously expected. On Thursday, however, US equities finished in positive territory, with the S&P 500 closing at a new record high. The broad stock index climbed 0.58% to register the 11th all-time high since the start of the year. The Nasdaq Composite added 0.30%, and the Dow Jones gained 0.91%. Investors cheered fresh US economic data as the report showed that retail sales dropped 0.8% in January versus the expected decline of 0.3%. Poor figures softened the inflation outlook and fueled expectations of an earlier rate cut by the Fed. In Asia, Japan’s benchmark Nikkei 225 index held around an all-time high even as the data this week showed that the Japanese economy fell into recession in the fourth quarter. In part, Japanese markets are buoyed by increasing bets that the Bank of Japan will further delay its plans to begin raising interest rates.
16.02.2024
1096
Weekly Review (February 5-9)
STOCKS
Investor sentiment was mostly upbeat during the week, with US stocks trending higher after a short-lived decline earlier in the week. Despite renewed uncertainty surrounding Fed rate cuts, Wall Street equities stayed buoyed to finish higher on Thursday due to strong earnings. So far, 64% of the S&P 500 have reported results, with more than 80% of those companies exceeding estimates. After briefly topping the 5,000 mark for the first time in history, the S&P 500 index retreated to finish just 0.06% higher. The Dow Jones rose 0.13%, while the Nasdaq Composite gained 0.24%. On the data front, applications for US unemployment benefits decreased by 9,000 to 218,000 last week versus 220,000 expected. Initial claims fell for the first time in three weeks, suggesting the US job market remains remarkably solid. In Asia, many regional markets were closed on Friday for the Lunar New Year holiday.
09.02.2024
1093