Daily Digest: Tuesday 19th November
Equity Round-up
For the second consecutive session, US equity performances were mixed, with both the Nasdaq 100 and S&P 500 moving higher, while the Dow continued lower. As seen yesterday, the Nasdaq 100 ($NDX) led gains rising 145.40 points (0.71%) to 20,684.59, followed by the S&P 500 ($SPX), which rose a further 23.36 points (0.40%) to 5,916.98. On the flip side, the Dow ($INDU) fell 120.66 points (0.28%) to 43,268.94, falling to session lows around 42,933 having breached the psychologically significant 43,000 level.
UK equities saw marginal declines following a brief rally yesterday, as markets traded in the absence of any major domestic economic changes. The UK’s benchmark index, the FTSE 100 (FTSE) fell 10.30 points (0.13%) to 8,099.02, after meeting early resistance just above the 8,140 technical level. Tuesday’s real focus was of a far more political nature, as British farmers took to the streets of the nations capital in protest against inheritance tax reforms outlined within Rachel Reeves October budget. I’ll provide a more in depth analysis of both the cause and effects of these protests on Wednesday. Meanwhile, on the continent, the Pan-European STOXX 600 (STOXX) extended losses by a further 2.24 points (0.45%) to 500.60.
In Asia, the Japanese Nikkei 225 (¥N225) broke its recent losing streak, rising 193.58 (0.51%) to 38,414.43, with traders finding significant support between 38,260 and 38,270. In China, the Shanghai Composite (¥SSE) also headed higher, once again breaking a recent technical trend rising 22.16 points (0.67%) to 3,346.01.
What to Watch Tomorrow
UK CPI
US Crude Oil Inventories
US Earnings
Nvidia ($NVDA)
TJX ($TJX)
Target ($TGT)
Snowflake ($SNOW)
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