Daily Digest: Monday 18th November
Equity Round-up
US equity performances were mixed, with both the S&P 500 and Nasdaq 100 moving higher, while the Dow headed lower. The Nasdaq 100 ($NDX) led gains, rising 145.06 points (0.71%) to 20,539.19, followed by the S&P 500 ($SPX) which rose 23 points (0.39%) to 5,893.62. Meanwhile, the Dow ($INDU) slipped 55.39 points (0.13%) to 43,389.60 as the index continued to trend downwards.
European attention turned to the UK on Friday as September GDP figures were released by the ONS. Data showed that the UK’s economy contracted -0.1% on a month-on-month basis, both 0.3 percentage points lower than analyst expectations and August figures. This down shift in momentum can be attributed to two factors, a slowdown in service sector expansion alongside a production and manufacturing decline.
Monday’s session was somewhat quieter in terms of major economic data prints with the UK’s headline being the Right Move HPI, a monitor of price activity within the housing market. The index tracks new listing activity, finding that during November for a second consecutive month house prices within the UK fell, extending declines a further 1.4%. The UK’s benchmark equity index, the FTSE 100 (FTSE) climbed 45.71 points (0.57%) to 8,109.32 as markets begin to strengthen following last months budget and recent energy and mining sector sell-offs. On the continent, the European STOXX 600 (STOXX) fell 0.28 points (0.056%) to 502.84.
In Asia, the Japanese Nikkei 225 (¥N225) continued lower as the indexes technical and fundamentals remain weak. Prices fell a further 422.06 points (1.09%) to 38,220.85, extending five session declines to 3.59%. Chinese markets also headed downward, with traders on the Shanghai Composite (¥SSE) reinforcing last week’s directional trend. The index fell 6.88 points (0.21%) to 3,323.85, now sitting just over 350 points from its all time highs.
What to Watch Tomorrow
Canadian CPI
Eurozone Final CPI
US Building Permits
US Earnings
Walmart ($WMT)
Lowe’s ($LOW)
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
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