Daily Digest: Monday 7th October
Europe
This week is relatively quiet in terms of major European economic data prints. Monday’s headline was high street bank Halifax’s House Price Index data for September, a metric that tracks the average prices paid for homes purchased with mortgages issued by Halifax. During September, prices rose for a third consecutive month, topping analyst estimates by 0.1 percentage points, with a 0.3% increase matching August’s rise. This pushes the average price of a home in the UK to £293,399, a monthly increase of £859 putting values marginally short of record highs. The FTSE 100 (FTSE) erased Friday’s losses with a 22.99 point (0.28%) rise to 8,303.62, while the Pan-European STOXX 600 (STOXX) only regained 0.92 points (0.§8%) to 519.48.
USA
US equities slowed following last weeks hotter than expected Non-Farm Payroll report, which suggests inflation may be of growing concern into October. The Nasdaq 100 ($NDX) experienced the sharpest session decline, falling 234.28 points (1.17%) to 19,800.74. Meanwhile, the S&P 500 ($SPX) fell 55.13 points (0.96%) to 5,695.94, and the Dow ($INDU) dropped 398.51 points (0.94%) to 41,954.24.
Rest of the World
Japanese equities traded higher, emulating US market performances on Friday. The Nikkei 225 (¥N225) extended last week’s gains, rising a further 697/12 points (1.80%) to 39,332.74.
Chinese traders will return to their desks on Tuesday, following a week of National Day celebrations. The Shanghai Composite (¥SSE) will open at 3,336.50, trading into both global macro and geopolitical headwinds. Domestically, the outlook remains strong for investors as the early effects of recent economic stimulus are realised.
Sources:
https://uk.finance.yahoo.com/world-indices/
https://uk.finance.yahoo.com/commodities
https://www.londonstockexchange.com/indices/ftse-100
https://www.binance.com/en-GB/price/bitcoin
https://www.binance.com/en-GB/price/ethereum
https://qontigo.com/index/sxxp/
Stock Market Activity Today & Latest Stock Market Trends | Nasdaq
https://coinmarketcap.com/charts/#market-cap
https://www.forexfactory.com
https://www.halifax.co.uk/assets/pdf/SEPTEMBER-2024-halifax-house-price-index.pdf
Definitions:
YoY - Year on Year, or, Year over Year
MoM - Month on Month, or, Month over Month
QoQ - Quarter on Quarter, or, Quarter over Quarter
ECB - European Central Bank
BOJ - Bank of Japan
Fed - Federal Reserve
BOE - Bank of England
SNB - Swiss National Bank
DOJ - Department of Justice