In the first session of the week, investors extended the positive tone seen during last Friday. In the euro area, economic data releases came in better than expected (EZ Sentix Investor Confidence rose in June to 28.0 from 21.0 and Spain's industrial production rose by 1.2% mom in April).
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In yesterday's session investors traded cautiously following the release of better-than-expected Q1 GDP growth data for the euro area (revised up by 0.3 p.p. to -0,3%) and record high job opening figures for the U.S. (up by almost 1 million to 9.3 million in April).
Yesterday, investors traded with caution and did not get agitated with the news coming from the US inflation report and the ECB monetary policy meeting. The VIX index declined and shares fell modestly in the euro area and increased in the US (the S&P 500 reached a new all-time high). Sovereign yields edged down in both regions.
Investors ended the day with positive results, after strong sentiment data in Europe (Germany’s Ifo business climate index rose to the highest level in two years) and labour statistics in the US (new jobless claims fell to 411,000 weekly). In addition, President Biden announced a deal in the Senate on an infrastructure package worth USD 1.2 trillion.
La indústria manufacturera espanyola va patir un fort revés el 2020, però les dades mostren una ràpida recuperació, a l’espera de l’impacte dels fons europeus NGEU i amb l’automoció com a referent i motor de la transformació tecnològica.
In yesterday's session, investors' sentiment worsened as COVID-19 infections increased in some parts of Asia and Europe, despite the vaccination campaign, and some countries imposed new limits to travel, especially from the UK.
In yesterday's session, investors traded with an optimistic mood following positive economic sentiment data releases for June in the euro area (EC Economic confidence rose from 114.5 to 117.9) and in the US (Conference Board consumer confidence at 127.3 from 120.0).
Investors’ morale improved again on the back of solid economic data reports. June PMI and ISM data in the euro area and in the US reflected that economic growth is gaining momentum and most manufacturing indices remained above the 60 points (EZ at 63.4, US ISM at 60.6, Spain’s at 60.4, +1 pp from the previous month).
During a session with low trading volumes (markets were closed in the US), investors recorded modest gains, fuelled by positive sentiment data across Europe (the service PMI was revised up by 0.3 points to 58.3 in June, the highest level since July 2007).
In a volatile session, investors’ sentiment was clouded by disappointing labour data in the US (new jobless claims unexpectedly rose to 373k during the first week of July) and uncertainty about the evolution of the pandemic. In Europe, the ECB confirmed a decision to modify its inflation target to a symmetric 2%.
The S&P 500 Index closed at another record high as investors looked to a highly anticipated second-quarter earnings season, which will start today with Goldman Sachs, JPMorgan Chase & Co. and PepsiCo Inc. European equities hit a record high with investors rotating out of cyclical sectors and into more defensive.
In yesterday's session, investors' sentiment improved and recovered from Monday’s lows amid upbeat corporate results. Stock indices in the euro area and in the US rose as traders bought the dip (the S&P 500 registered its biggest daily increase since March).
Investors ended the week on a positive mood, supported by upbeat corporate earnings and favourable economic data. Markit's composite PMIs showed that July economic activity remained solid in the U.S. (59.7 points) and accelerated in Europe (EA: 60.6 points, a 21-year high; Germany: 62.5; France: 56.8).
Asian stocks dropped markedly on Monday, following the crackdown by the Chinese government on education and tech companies. Investors in Europe and the U.S., however, shrugged off the spike in volatility, bolstered by optimism over the corporate earnings season.
Markets were mixed in a light-volume session with no major economic releases. A rebound in Chinese equities and rising commodity prices supported EM currencies and triggered gains across emerging-economy stock markets. In advanced-economies, U.S. equities rose moderately while European markets closed mixed.
In the last session of August, investors weighed the slowdown of some economic sentiment indicators (e.g.: U.S. Conference Board's consumer confidence at 113.8 from 125.1 in July and China's Composite PMI down to 48.9 in August from 52.4) against an upside surprise in the euro area inflation.
Yesterday, investors continued to trade in a cautious mood. Asian stocks dropped after weak retail sales and industrial production data in China. In advanced economies, European equities declined while U.S. stocks rose on the back of greater optimism on the U.S. economic outlook.
Markets were mixed on Thursday. EM and U.S. stocks ended lower while European equities rebounded from a seven-week low, led by the travel and leisure sector.
In a session with a Triple witching hour in the U.S., an event that usually increases volume and volatility as several futures and options expire simultaneously, stock indices declined in the euro area and in the U.S. while sovereign yields edged moderately up on both sides of the Atlantic.
La inflación en la eurozona registró en septiembre un máximo no visto desde 2008, debido, principalmente, al aumento del componente energético (+17,4% interanual). Asimismo, los componentes subyacentes de la cesta también contribuyeron a este repunte: aunque el precio de los bienes industriales se ha moderado 0,5 p. p. con respecto al dato de agosto, se mantiene en niveles elevados (2,1%), mientras que el de los servicios ha aumentado 0,6 p. p., hasta el 1,7%.