Global equity markets were lower on Monday (21/10/24) as investors opted for caution amid rising geopolitical tensions and uncertainty over the US presidential election, which helped push gold futures prices to fresh highs.
US ECONOMY GOES SMOOTHLY TOWARDS SOFT-LANDING, WHILE CHINA’S ECONOMY SLOWS DOWN.
ECONOMIC INDICATORS: Building Permits (Sept) and Housing Starts (Sept) both fell more than expected and also compared to Aug.
The Technology sector pushed Wall Street’s main stock index to a higher closing level, while Crude oil prices posted their biggest weekly decline in a month on Friday trading (18/10/24) as investors shrugged off mixed earnings reports and focused solely on Netflix’s solid performance; as well as Beijing’s policy measures to boost Chinese demand.
Stronger-than-expected monthly Retail Sales data suggests US consumers still have healthy purchasing power.
The Dow Jones Industrial Average rose on Thursday (17/10/24) to its fourth record close in the last five sessions, on the back of stronger-thanexpected monthly Retail Sales data showing US consumers still have healthy purchasing power, and an upbeat forecast from Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest chipmaker lifted chipmaker stocks in the Technology sector.
INDIKATOR EKONOMI malam ini akan merilis angka Retail Sales (Sept) , Initial Jobless Claims mingguan, Industrial & Manufacturing Production (Sept) , serta Philadelphia Fed Manufacturing Index (Oct).
US stock markets ended higher compared to global indexes in Wednesday’s trading, and crude oil continued its decline on weak demand projections. Mega-cap growth stocks faltered, limiting the Tech-laden NASDAQ’s gains; while economy-sensitive sectors helped propel the S&P 500 and DJIA to more substantial gains, with the Dow Jones Industrial Average recording its third-highest close in four days.
In addition to earnings reports, Retail Sales and Industrial Production are also highlighted as key economic data.
