Weekly Review (January 22-26)
STOCKS
Positive sentiment dominated global financial markets during the week. US equities extended gains on Thursday, with the S&P 500 seeing another all-time closing high. The broad index added 0.53%, the Dow Jones rose 0.64%, and the Nasdaq Composite finished up just 0.18%, adding 1.3% since the start of the week. Investors were inspired by fresh data that indicated continued economic growth. The US economy grew at a rate of 3.3% in the fourth quarter versus the 2% expectation. Strong report helped offset disappointment by a slump in Tesla stocks. Shares plunged over 12% after the company posted weak fourth-quarter results. In Asia, the recent recovery in Chinese equities has run out of steam, while Japan’s Nikkei 225 continued to retreat from 34-year highs to shed 1.34% ahead of the weekend.
26.01.2024
1091
Weekly Review (January 15-19)
STOCKS
After a negative start to the week, US stocks finished higher on Thursday to push indexes back into positive territory on the monthly charts. The Dow Jones added 0.54% to erase early losses. The tech-heavy Nasdaq Composite rallied 1.35% and the S&P 500 gained 0.88%. In individual stocks, shares of Apple advanced around 3.3% after Bank of America upgraded the stock to buy. On the data front, first-time filings for unemployment insurance came in at 187,000 last week, down 16,000 from the previous period and stronger than expected. In a knee-jerk reaction to the release, investors expressed concerns over a strong labor market that may mean fewer rate cuts from the Fed than many are expecting. Asian markets also advanced ahead of the weekend as regional markets took some positive cues from an upbeat forecast by Taiwan Semiconductor Manufacturing Corp, the world’s largest contract chipmaker.
19.01.2024
1090
Weekly Review (January 8-12)
STOCKS
After a positive start to the week, global stocks turned mixed. US equities closed little changed On Thursday after December’s CPI report came out slightly higher than expected. The release reflected a 0.3% increase in consumer prices for the month, pushing the annual rate to 3.4% versus 0.2% and 3.2% expected. At the same time, core CPI, excluding volatile food and energy prices, came in line with expectations. Even as the data suggests that interest rate cuts by the Fed may be slower to come, equities refrained from a plunge during the session. The Nasdaq Composite closed at the flat line, the Dow Jones gained just 0.04%, and the S&P 500 edged lower by 0.07%.In Asia, the Nikkei 225 rallied 1.5% to a new 34-year high after weak data on the country’s current account added to expectations of an ultra-dovish Bank of Japan. The Shanghai Composite index slipped 0.16% after Beijing reported that its exports and imports rose last month, while consumer prices fell 0.3% in December, the third consecutive month of declines.
12.01.2024
1116
Weekly Review (January 1-5)
STOCKS
Wall Street stocks were mostly down in the first trading week of 2024 after finishing last year with strong gains. US markets closed mostly lower on Thursday, with the S&P 500 notching a four-day losing streak. The index shed 0.34% during the session. The Nasdaq Composite finished 0.56% lower to lose nearly 4% since late December. Bucking the trend, the Dow Jones gained 0.03%. This week, market participants expressed uncertainty around when the Federal Reserve will begin to cut rates, especially as the minutes from the central bank's latest monetary-policy meeting didn’t offer a timetable on possible reductions. In Asia, persistent concerns over China added to indecisive tone among market players, with most regional markets closing lower for the week after Fitch downgraded the issuer default ratings of four Chinese national asset management companies.
05.01.2024
1124
Weekly Review (December 25-29)
STOCKS
Stock markets were mixed to start the last trading week of the year in holiday-thinned trade. US equities were higher these days, finishing the year on positive footing. On Thursday, US markets were mixed-to-positive in light trading. The S&P 500 finished just 0.04% higher to settle within striking distance of its all-time high. The Dow Jones rose 0.14% and the Nasdaq Composite slipped 0.03%. All major indexes are on pace to finish the year with solid gains. The Dow and the S&P are poised to finish higher by nearly 13.8% and 24.6%, respectively. The tech-heavy Nasdaq climbed more than 44% to see its best year in twenty years. In Asia, stocks were mixed on the last trading day of the year, snapping their two-year losing streak as investors turned more upbeat amid the expectations that the Federal Reserve will start cutting interest rates next year. Regional equities are on track for their best year since the pandemic.
29.12.2023
1108
Weekly Review (December 18-22)
STOCKS
US stocks retain bullish tone these days, finishing the eights bullish week in a row. Equities extended the ascent after the Federal Reserve last week indicated three short-term interest rate cuts are expected in 2024. Wall Street equities rose on Thursday to rebound after the indexes saw their worst daily sell-off since October. The S&P 500 jumped about 1%, the Dow Jones rose 0.9%, while the teach-heavy Nasdaq Composite added more than 1.2%. On the data front, the final reading of GDP for the third quarter showed the US economy grew 4.9%, below the consensus estimate of 5.2%, while initial jobless claims rose slightly to 205,000 last week. Fresh signs of a cooling US economy added to expectations for a March rate cut by the Fed, fueling a solid rebound in stocks. In Asia, equities were mixed. Tokyo's Nikkei 225 index edged just 0.3% higher after the data showed that Japan's core inflation rate fell to 2.5% in November from 2.9% a month earlier. The index was up 0.7% this week and stayed close to a 33-year high.
22.12.2023
1132
Weekly Review (December 11-15)
STOCKS
After a mixed start to the week, global stocks traded mostly higher these days as risk-on rally persisted amid signs of a more dovish tone from the Fed. Wall Street stocks extended the ascent on Thursday as investors continued to digest a dovish message from the US central bank and upbeat economic data. According to the official report, US retail sales rose 0.3% last month versus -0.2% in October, while markets were expecting sales to decline again. Meanwhile, applications for unemployment benefits fell by 19,000 to 202,000 for the week ending December 9. Against this backdrop, the Dow gained 0.4% to hit another record high, the S&P 500 added 0.3%, and the tech-heavy Nasdaq finished 0.2% higher. Asian equities also advanced on Friday amid persistent excitement that the Fed might cut interest rates several times next year. The Shanghai Composite index, however, failed to preserve the upside momentum to finish 0.56% lower even as the data showed that China’s factory output rose 6.6% in November and retail sales were up more than 10%.
15.12.2023
1085
Weekly Review (December 4-8)
STOCKS
Global stocks struggled for a clear direction this week amid mixed US economic data. The report on job openings in October showed slowing demand in the labor market, while ISM Services PMI exceeded consensus and previous figures by coming in at 52.7. US equities advanced on Thursday in anticipation of a crucial monthly US jobs report that could affect interest rate expectations ahead of Fed’s next week meeting. Fresh data showed that 220,000 jobless claims were filed last week, with the number coming in line with market expectations. The S&P 500 climbed 0.80%, while the Dow added 0.17%, and the Nasdaq Composite advanced 1.37% as tech stocks outperformed. In individual stocks, Alphabet rallied more than 5% as the market cheered the company’s launch of its Gemini artificial intelligence model.
08.12.2023
1154
Weekly Review (November 27 – December 1)
STOCKS
US stocks advanced earlier in the week following a solid report on consumer confidence and growing hopes that the Federal Reserve may not need to raise interest rates further. The CB consumer confidence index rose to 102 this month versus a downwardly revised 99.1 from October. Meanwhile, Fed Governor Christopher Waller expressed confidence that policy is currently well positioned to bring inflation back to 2%. On Thursday, Wall Street equities ended mostly higher to see the biggest monthly gain in more than a year. The S&P 500 rose 0.4%, the Dow Jones jumped 1.5%, while the tech-heavy Nasdaq Composite bucked the trend to fall 0.2%. Equities were buoyed by the release of the PCE index, which showed that inflation cooled to its lowest levels since 2021. The release added to signs that the Fed may cut rates sooner than thought. For the week, the S&P 500 is up 0.2%, the Dow is up 1.6%, and the Nasdaq is down 0.2%.
01.12.2023
1074