Financial Markets Daily Report

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During a volatile session, financial markets ended with negative results, taking a breath from the recent rally and refocusing on the risks around the growth outlook, lingering inflationary pressures and changes in monetary policy.

Investors traded with a risk-on mood on Tuesday, extending recent gains across equity markets following the release of positive economic data and solid corporate results.

Financial markets started the first session of the week with modest gains, focusing on the release of positive earnings results for Q3 (around 80% of the S&P listed firms have reported better-than-expected results) and bringing the S&P to a new record high. In Washington, Democrats lawmakers stepped closer to a deal on Biden’s fiscal agenda.

Financial markets ended the week with mixed results, balancing the positive tone from the corporate results for the Q3 earning season with disappointing survey economic data in Europe.

In yesterday's session, investors traded cautiously as they weighed signs of building inflationary pressures with positive corporate results and better-than-expected economic data releases.

In yesterday's session, financial markets traded with an optimistic tone amid positive corporate earnings releases in the U.S. and across Europe. Investors remain concerned, though, about inflationary pressures as the Fed's Beige Book reported significant increases in prices and wages in a decelerating economy.

In yesterday's session, investors traded with an optimistic tone amid positive corporate results in the U.S. and dovish comments by central bank officials. In particular, ECB Olli Rehn, reiterated that the current spike in inflation is mostly temporary, although some factors pushing up inflation might be more persistent than initially thought.

Financial markets started the week with mixed results, amid feeble economic data releases. In the U.S., industrial production fell in September by 1.3% (-0.1% in August), the largest decline since February.

Financial markets ended the week on a positive tone, on the back of better-than-expected Q3 corporate results and economic data releases in the U.S. In particular, retail sales rose by 0.7% mom in September, well above the Bloomberg consensus (0.2% decline).

Financial markets ended the day with positive results, as better-than-expected Q3 corporate earnings and economic data (new jobless claims in the U.S. fell to 293k last week) outweighed worries about inflationary pressures.

During a volatile session, financial markets ended the day with mixed results, after the U.S. CPI inflation report surprised to the upside (5.4% y/y in September after 5.3% in August). The data suggested that upward pressures on prices are broadening out, putting into question the view that the rise in inflation could be transitory.

Markets started the first two sessions of the week with mixed results, with fears about rising inflation and slowing growth remaining the key themes among investors, and ahead of the start of the Q3 corporate earnings season.