Markets in Asia and especially in Europe started September strongly after higher-than-expected inflation in the eurozone and very optimistic comments from ECB Vice President Luis de Guindos, who said that the eurozone economy is growing faster than the ECB expected, hinting at an upward revision of the central bank's growth forecast. On the downside, German retail...
The S&P 500 is on track to close its seventh consecutive month with gains after another record close on Wall Street. For many investors, August was a surprisingly strong month for equity markets, with the S&P 500 up more than 3% for the month and the technology-heavy Nasdaq 100 up as much as 4%, marking its third straight month of gains. Markets in Asia performed...
Global stocks trade little changed but slightly higher Monday after the S&P 500 and Nasdaq 100 posted record closes Friday in the wake of Fed Chairman Jerome Powell's Jackson Hole speech. Europe is also trading positive, with the broad Stoxx Europe 600 near all-time highs. Stocks in Asia and Australia are higher, supported by bargain hunting in China/HK markets....
Inflation data did not surprise markets but remained at very high levels (5.4% YoY) and unchanged from June. Core inflation, which excludes energy and food rose by 0.3% from the previous month and thus came in slightly lower than expectations (+ 0.4%).
We saw the USD weaken in the short term as apparently some investors expected even higher inflation. However,...
