Markets were mixed in yesterday's session. U.S. stocks surged, while EM equities posted modest increases and European stocks declined moderately.
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Volatility nudged down in the first session of Q3 2020. U.S. stocks advanced moderately as economic indicators recovered (ISM manufacturing at 52.6 points in June, its first reading above the 50-threshold since early 2020). Elsewhere, stocks declined in Europe and gained in EM.
In the last session of the week, investors traded cautiously amid fears of new covid-19 cases and doubts on a united ECB response in case further stimulus is required. European stock indices edged lower while EM equities surged, led by Chinese equities. US financial markets were closed because of the Independence Day.
In yesterday's session, caution returned to financial markets. Investors' concerns over the economic growth were fuelled by the European Commission Summer economic projections, which forecast a sharpest fall this year and a slower recovery, and Fed members' downbeat comments.
Investor sentiment ended the week on the up amid positive reports over a potential antiviral drug to treat COVID-19. As risk appetite rose, stocks increased across Europe and the U.S., the USD weakened and commodity prices advanced (in oil markets, the barrel of Brent closed moderately above $43).
Financial markets started the week with a mixed session. In Europe, investors traded with a risk-off mood while in the US riskier assets benefited from progress in the negotiations for a new fiscal stimulus package and hopes for a COVID-19 vaccine.
Investors traded more cautiously in yesterday's session -in spite of the meeting between U.S. and Chinese trade officials, in which they reaffirmed the implementation of the phase-one trade deal which had been signed in January. In this context, U.S. and EM stocks advanced moderately, while European stock market indices were mixed.
In a session with mixed economic data, investors traded cautiously in Europe while US assets strengthened further.
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.
European stocks rose in yesterday's session while U.S. stock markets were on holiday for Labor Day.
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.
Markets ended the week in a mixed session as U.S. tech equities continued to decline and investors digested the outcome of Thursday's ECB monetary policy meeting. Global stocks were lackluster, U.S. and German sovereign yields declined and euro area peripheral spreads nudged up amid lower risk appetite.
In the last session of the week, investors traded with a downbeat tone and stock indices declined across Europe and, following a tech sell-off, in the US. Asian equities, instead, increased mildly.
Investor sentiment improved yesterday as consumer confidence in the euro area rose to -13.9 points in September (-14.7 in the previous month), beating expectations. Nevertheless, the risk of a second wave of COVID-19 infections increases the chances of additional stimulus in the coming months.
Investors traded in a risk-on mood in yesterday's session as European and U.S. stock markets regained some of their recent losses in a rally led by the financial sector.
Investors traded in a mixed mood yesterday, as the S&P 500 gained 0.5%, the Eurostoxx50 edged up 0.02%.
Markets were mixed in yesterday's session. Stocks in Asia, Europe and emerging economies recovered some of the lost ground in previous days.
Investors searched for direction in yesterday's session. Asian stocks advanced, European indices were mixed, and U.S. equities jumped as markets regained optimism that a partial deal on more fiscal stimulus could still happen.
Investors traded in a mixed mood yesterday as Europe's second wave of coronavirus advances and forces new restrictions in some countries and regions, and prospects for further fiscal stimulus in the U.S. are uncertain.
Investors started the week on a risk-off mood. Amid rising coronavirus cases, tighter mobility restrictions in Europe and little progress in U.S. fiscal stimulus talks, volatility spiked and stock markets slumped across the board.