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30/03/2022

International Market Update

Good morning,

U.S. stock benchmarks ended sharply higher Tuesday, with the S&P 500 exiting correction territory, buoyed by optimism over negotiations on a cease-fire in Ukraine and a decline in some commodity prices. The Dow Jones rose 338.30 points, or 1%, to close at 35,294.19, rising for a fourth straight day. The S&P 500 gained 56.08 points, or 1.2%, to finish at 4,631.60 as the index rose for a fourth straight day. The Nasdaq Composite climbed 264.73 points, or 1.8%, to end at 14,619.64, booking gains for a second consecutive day. U.S. gold futures dropped 1.5% to $1,910.70.

The pan-European Stoxx 600 closed up by 1.7%, with autos soaring 5.9% to lead the gains as all sectors traded in positive territory except basic resources and oil and gas, which fell 2.2% and 1.9% respectively.

Asia-Pacific stocks were mostly higher Wednesday as investors watch for developments surrounding the war in Ukraine. Tencent was last up 1.59% in HK. Brent crude futures were up 0.81% to $111.12 per barrel.

U.S. and European stock futures are currently a tad lower.

28/03/2022

International Morning Update

Monte Wessels, [2022/03/28 08:25]
Good Morning.

By end of day close on Friday, the Dow and S&P had risen to close out their second consecutive winning week. The Dow gained 153 points, or 0.4%. The S&P 500 advanced 0.5% and has more than erased its losses since Russia invaded Ukraine in late February. The US Indices rallied in the last hour of trade. The S&P is up more than 8% over the past two weeks. Meanwhile, the Nasdaq Composite dipped 0.2% but still finished the week in the green. The moves came as investors continue to monitor developments in Russia’s war on Ukraine and expectations about the Fed’s plans to hike interest rates. On Friday, the benchmark 10-year yield touched a fresh multi-year high of 2.5% as investors priced in a more aggressive rate hike cycle, which helped lift financial stocks while tech stocks pulled back.

European Markets were mainly higher on Friday. The FTSE and the DAX both closed up 0.2%, while the French CAC was slightly in the red.

Bources in Asia are higher this morning, with shares in Chinese tech firms higher in Asia-Pacific trading on Monday, as oil prices fall more than 2%. Shares of Meituan soared 14% while Tencent climbed 3% odd. Meituan (which provides a web based shopping platform throughout China), posted better-than-expected revenue for the last three months of 2021 on Friday. The Hang Seng Tech index recovered from earlier losses as it gained 3%. The broader Hang Seng index in Hong Kong advanced 1.3%. In Japan, the Nikkei 225 slipped 0.47% while the Topix index ticked 0.13% lower. South Korea’s Kospi gained 0.13%. In Australia, the S&P/ASX 200 gained 0.2%. Singapore’s Straits Times index also climbed 0.35%.

US futures are pointing lower while European futures are currently in the green

23/03/2022

International Market Update

Good Morning.

The Dow Jones Industrial Average rose more than 250 points on Tuesday, helped by a 2.2% jump in Nike’s stock from strong earnings. The S&P 500 climbed 1.1%. The Nasdaq Composite was the relative outperformer, rising 2% as Meta Platforms, Amazon, Apple, Netflix and Google-parent Alphabet all closed higher. The benchmark 10-year U.S. Treasury yield on Tuesday hit 2.39% at the highs of the session, its highest level since May 2019.
The S&P 500 is now only 5% off its record and has surpassed both its 50-day and 200-day moving averages.
European stocks closed higher on Tuesday as investors continued to monitor the war in Ukraine and economic developments in the U.S. The pan-European Stoxx 600 closed up 0.9%, with banks adding 2.5% to lead the gains as most sectors and major bourses finished in positive territory. The FTSE was up almost 0.5%.
Shares in Japan are leading gains among major Asia-Pacific markets in Wednesday trade, as investors monitored oil prices and continued to assess the outlook for U.S. Federal Reserve monetary policy.
Japan’s Nikkei 225 rose 2.7% as shares of SoftBank Group jumped 7.4%. The Topix index advanced 2.1%. In Hong Kong, the Hang Seng index surged 1.7%. Shares of Chinese tech giant Tencent currently up 2.2%, ahead of its fourth-quarter and annual results announcement expected later on Wednesday. The Hang Seng Tech index gained 3% odd.
US and European futures are currently pointing green, all eyes on Tencent Numbers coming out late morning SA time.

18/03/2022

International Market Update

Hey Hey,

U.S. stocks ended higher Thursday as investors assessed the Federal Reserve’s decision a day earlier to hike interest rates and signal a series of further increases to come. The Dow Jones rose 417.66 points, or 1.2%, to close at 34,480.76. The S&P 500 gained 53.81 points, or 1.2%, to finish at 4,411.67. The Nasdaq advanced 178.23 points, or 1.3%, ending at 13,614.78. The yield on the 10-year Treasury note rose less than a basis point to 2.192%.

The pan-European Stoxx 600 index closed up 0.4%, with oil and gas stocks adding 2.2%. The Bank of England raised interest rates for the third consecutive meeting and struck a dovish tone as the Russia-Ukraine conflict is expected to keep inflation higher for longer

Shares were mostly lower in Asia on Friday after the Bank of Japan held steady on monetary policy and oil prices pushed higher, surpassing $105 per barrel. Tencent was last down 4.3% in HK. Brent crude futures up 2.28% to $108.92 per barrel after slim progress in peace talks between Russia and Ukraine raised the spectre of tighter sanctions and a prolonged disruption to oil supply.

U.S. and European stock futures are currently lower.

17/03/2022

International Market Update

Good morning.

U.S. stocks rallied for a second day in volatile trade Wednesday after the Federal Reserve pulled the trigger on its first interest rate hike since 2018, while indicating more rate increases and balance sheet reduction will follow. The Dow Jones rose 518.17 points, or 1.6%, to end at 34,063.10, after trading as low as 33,391.24. The S&P 500 gained 95.41 points, or 2.2%, to finish at 4,357.86. The Nasdaq Composite advanced 487.93 points, or 3.8%, to close at 13,436.55, its best daily percentage gain since Nov. 4, 2020. The yield on the 10-year Treasury note rose 2.5 basis points to 2.185%.

The pan-European Stoxx 600 index ended up around 3%, with major bourses and almost all sectors in positive territory. Tech stocks rose more than 6.5% to lead the gains, while utilities bucked the trend, slipping 0.8%.

Asian stock prices surged for a second day Thursday after the Federal Reserve announced its first interest rate hike since 2008 and China promised support for its real estate and internet industries. Tencent was last up 5.67% in HK. Oil prices were higher in the afternoon of Asia trading hours with Brent crude futures up 1.66% to $99.65 per barrel.

U.S. futures are currently mixed while European futures are small up.

16/03/2022

International Market Update

Good morning,

U.S. stock indexes closed sharply higher Tuesday, with the S&P 500 and Nasdaq Composite snapping three-day losing streaks, after a smaller-than-expected rise in a measure of wholesale inflation and a slump in oil prices which had earlier soared on Russia’s invasion of Ukraine. The Dow Jones jumped 599.10 points, or 1.8%, to close at 33,544.34. The S&P 500 gained 89.34 points, or 2.1%, to end at 4,262.45. The Nasdaq advanced 367.40 points, or 2.9%, to finish at 12,948.62. The yield on the 10-year Treasury note rose 2.1 basis points to 2.16%

The pan-European Stoxx 600 closed down 0.3%, paring some of its earlier losses. Basic resources fell 2% to lead losses while media stocks gained 1.8%.

Asian shares rose Wednesday as investors awaited a widely anticipated decision by the U.S. Federal Reserve on interest rate policy. Tencent was last up 7.45% in HK. Brent crude futures gained 1.16% to $101.07 per barrel.

U.S. futures are currently mixed while European futures are positive

15/03/2022

Morning Market Update

Good morning,

U.S. stocks finished mostly lower on Monday as investors weighed the 19th day of military hostilities in Ukraine and awaited the start of a crucial gathering of the Federal Reserve, with the first rate hike in about four years expected on Wednesday. The Dow Jones finished nearly flat at around 32,945, aided by a rally in American Express Corp. The S&P 500 closed down 0.7% at 4,173, weighed by declines in energy down 2.9% and information technology off 1.9%. Nasdaq Composite lost 2.04% to end around 12,581. The 10-year Treasury yield hit 2.145%, its highest level since July 2019. U.S. gold futures fell 0.5% to $1,951.20.

The pan-European Stoxx 600 ended up around 1.2%, with autos and banks jumping over 3.2% to lead gains while mining stocks fell 2.5%.

Shares in China lagged among Asia-Pacific markets on Tuesday, though some losses were pared following the release of Chinese economic data that was above expectations. Chinese industrial output rose 7.5% year-on-year in January and February. Retail sales in China also beat expectations for the first two months of the year, gaining 6.7%. Oil prices dropped in the afternoon of Asia trading hours on Tuesday, with Brent crude futures slipping 4.05% to $102.57 per barrel.

U.S. stock futures are currently slightly higher while European futures are a tad lower.

14/03/2022

https://businesstech.co.za/news/banking/566262/south-africa-is-seeing-a-financial-exodus/

Despite a global surge in IPOs during 2021 on the world’s stock exchanges, Africa has seen companies systematically pulling away from the equity markets – with the Johannesburg Stock Exchange no exception.

14/03/2022

U.S. stocks slid into the closing bell on Friday, giving up earlier gains, and leaving the Dow down for five straight weeks as America and its allies looked to ratchet up economic pressure against Moscow to hopefully force the worsening conflict in Ukraine to a swifter end. The Dow Jones fell about 230 points, or 0.7%. The S&P 500 index shed 1.3% and the Nasdaq Composite Index lost 2.2%. The yield on the benchmark 10-year Treasury note rose 1 basis point to 2.016%.

The pan-European Stoxx 600 added 1.08% by the close, with travel and leisure stocks climbing 3.5% to lead gains as most sectors and major bourses closed in positive territory.

Asian markets were mostly lower as investors monitor a Covid wave in China and as oil prices continued to be volatile amid the Russia-Ukraine war. Hong Kong’s Hang Seng index dropped 3.81% by the afternoon, with Chinese tech stocks taking a beating. Tencent was last down4.51%. Brent crude futures down 2.07% to $110.34 per barrel. U.S. gold futures fell 0.5% to $1975.70.

U.S. and European futures are currently pointing higher.