Investors traded in a risk-on mood in yesterday's session as tech stocks recovered from a market rout in the U.S.
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The tech sell-off in U.S. stock markets continued and spread to Asia in yesterday’s session. Risk-off market sentiment also weighed on European stocks, although they suffered relatively smaller declines.
European stocks rose in yesterday's session while U.S. stock markets were on holiday for Labor Day.
In yesterday’s session, investors’ sentiment worsened following concerns of overvaluations in some risky assets and mixed economic data releases. In particular, August Composite PMIs came out weaker-than-expected in most euro area countries (Spain, Italy and France) and surprised positively in Germany, the US and China.
In yesterday's session, investors traded with a positive mood following advances in a possible vaccine and as central banks continue to provide highly accommodative financial conditions.
In a session with mixed economic data, investors traded cautiously in Europe while US assets strengthened further.
The spread of new COVID-19 cases weakened investor's sentiment in the last session of August. Stock indices declined in most advanced and emerging economies except for the heavy technology-weighted Nasdaq index, in the US, and the Japanese Nikkei.
In the last session of the week, investors continued to digest the Federal Reserve's new inflation approach, in which it will be more tolerant to inflation increases.
Markets were mixed in yesterday's session as the Fed and its Chairman Jerome Powell announced a change to the longer-run goals and monetary policy strategy. Volatility rose and stocks declined moderately across AEs and EMs.
Investors ended the week in a cautious mood as rising U.S.-China tensions overshadowed a rebound in economic sentiment indicators.
Positive developments around a potential COVID-19 vaccine fueled a risk-on mood in yesterday's session. Stocks rose across advanced and emerging economies and, in the U.S., shares of Moderna - a company working on a vaccine - surged close to 7% after a small-scale study showed its experimental vaccine produced high levels of antibodies.
Investors traded more cautiously in yesterday's session as increasing coronavirus infections weighed on risk sentiment.
In the last session of the week, investors traded cautiously as they pondered over an uncertain economic outlook. Stocks rose moderately in advanced economies while exhibiting a better performance in emerging economies. In FX markets, the USD weakened against most AE currencies.
In the first session of the week, investor sentiment improved as promising trial results from a potential COVID-19 vaccine renewed investor's hopes.
Yesterday investors traded on a risk-on mood on the back of an historical agreement in the EU. The €750bn stimulus plan agreed will consist of €390bn in grants and €360bn in loans.
In yesterday's session investors traded cautiously as they digested political developments. On the one hand, tensions between the US and China rose as the White House gave China 72 hours to close its consulate in Houston amid accusations of spying. China has said it intends to retaliate.
Financial markets performed poorly in yesterday's session amid worse-than-expected US labor market data (initial unemployment claims rose last week for the first time since late March) and rising tensions between the US and China.
Investors started the week on a positive note amid optimism over medical advances against the coronavirus. Volatility nudged down and stock markets rose across advanced and emerging economies.
In August, investors have been trading on a cautiously positive note –weighing the recovery in activity indicators against ongoing and renewed coronavirus outbreaks across advanced and emerging economies. In this context, somewhat lower risk aversion has eased pressures on safe-haven assets and favored the performance of risky assets.
During a busy day for economic data releases, investors digested the record-low GDP growth figures in the US and Germany and demand for safe-haven assets rose.