Bullish regional market sentiment was maintained in early week trading (17/04/23) supported by the US financial & industrial sectors. At the same time, investors were somewhat restrained with a Wait & See stance, awaiting the release of issuers’ financial reports (especially banks that were eagerly awaited) and several comments from Federal Reserve officials that could give more insight into the path of interest rates.
All three major US indexes posted gains in early week trading (17/04/23), helped by the financial & industrial sectors. At the same time, investors were somewhat restrained with a Wait & See stance, awaiting the release of issuers’ financial reports and several comments from Federal Reserve officials that could give more insight into the path of interest rates.
The US stock market managed to close last week’s movement in positive territory on a weekly basis backed by their main positive sentiment, which was the release of Inflation data (Mar.) that managed to ease to 5% YoY, lower than the forecast of 5.2% and the previous month’s 6%.
The Dow Jones and others closed lower on Friday (14/04/23) as a barrage of mixed economic data appeared to affirm another Federal Reserve interest rate hike, dampening investor enthusiasm after a series of big US bank earnings launched first-quarter reporting season and were able to make the S&P 500 banking sector soared by 3.5%.
The Dow Jones and others closed lower on Friday (14/04/23) as a barrage of mixed economic data appeared to affirm another Federal Reserve interest rate hike, dampening investor enthusiasm after a series of big US bank earnings launched first-quarter reporting season and were able to make the S&P 500 banking sector soared by 3.5%.
US & European financial markets posted significant gains in Thursday’s trading (13/03/23), with Nasdaq leading the way by rising nearly 2% and its biggest daily percentage jump in a month; supported by economic data releases showing cooling inflation at the producer level and a slackening labor market, thereby contributing to optimism that the Federal Reserve may soon be able to end its aggressive interest rate hike cycle.
All three major US stock indexes closed significantly higher by more than 1%, with the Nasdaq leading the way with a nearly 2% gain and the largest daily percentage jump in a month; supported by economic data releases showing cooling inflation at the producer level and a slackening labor market, thereby contributing to optimism that the Federal Reserve may soon be able to end its aggressive interest rate hike cycle.
Bullish sentiment in the market deflated at the end of Wednesday’s trading (12/04/23) amid the release of Inflation data (Mar.) which was able to cool down to 5% YoY, lower than the estimated 5.2%. Core CPI is still somewhat tough to come out at 5.6% YoY, slightly higher than the previous period of 5.5%, although on a monthly basis it had sloped to 0.4% MoM (from 0.5% previous).
Dow Jones and others finally closed in negative territory as Nasdaq led the weakness with minus 0.9%, after the market had greened quite significantly on Wednesday trading (12/04/23) as a market reaction to the release of Inflation data (Mar.), which was able to cool down to 5% YoY, lower than the forecast of 5.2%.
