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Global stocks struggle after a bearish week

Global stocks struggle after a bearish week

October 4, 2021 09:49
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  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

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  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

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Home » Global stocks struggle after a bearish week

Global stocks struggle after a bearish week

by Stephen Soo
October 4, 2021 09:49
in Fundamental analysis
0
Global stocks struggle after a bearish week

European markets retain a bearish tone after their worst weekly showing since February

Wall Street equities rebounded on Friday to end sharply higher despite mixed economic data. Consumer spending jumped by 0.8% versus +0.7% expected while the personal consumption expenditure price index climbed 0.4% in August, the sixth straight increase. Furthermore, the rate of inflation in the 12 months edged up to 4.3%, the highest rate in 30 years. The S&P 500 gained 1.15% while the Dow Jones and the Nasdaq Composite added 1.43% and 0.82%, respectively.

Asian markets were mixed-to-lower on Monday. The Hang Seng in Hong Kong plunged over 2% after China Evergrande’s shares were suspended from trading. According to the latest reports, a rival company was buying 51% of Evergrande’s property services unit. Tokyo’s Nikkei 225 dropped 2.65% while Australia’s S&P/ASX 200 gained 1.25%. Markets were closed for holidays in Shanghai and South Korea.

In Europe, equities opened lower today, retaining a bearish tone after their worst weekly showing since February. On the data front, Eurozone’s October Sentix investor confidence index came in at 16.9 versus 19.0 expected, to slip to a six-month low. The current conditions index fell from 30.8 in September to 26.3 while the expectations index fell from 9.0 to 8.0, the fifth straight month of decline.

In currencies, the dollar looks offered nearly across the board on Monday despite the risk-off tone prevails in the global markets at the beginning of the week. Further losing momentum, the USD index slipped to fresh local lows below the 94.00 figure in a corrective move from new 2021 highs registered on September 30. As such, EURUSD bounced from mid-2020 lows around 1.1560 to regain the 1.1600 figure in recent trading. However, the pair is yet to confirm the latest recovery on a daily closing basis, with downside risks persisting.

Tags: DOW JONESEURUSDHang SengNasdaqNikkeiS&P 500
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Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

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