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Financial Markets Weekend Summary: August 10, 2024
2024-08-11 19:55:08
Markets
Stocks
Economy

Financial Markets Weekend Summary: August 10, 2024

Image courtesy of : AFP (SPENCER PLATT)

Global financial markets experienced turmoil with technical glitches, Japan raising interest rates causing a Nikkei 12% drop, and stock declines in automakers. Meanwhile, the VIX index surged, Canada's trade surplus flourished, and experts recommend investing in cryptocurrencies.

Despite this, the Dow and other indices rose on positive employment data, with Jamie Dimon expressing optimism. However, US and Japan stock markets deflated, China's exports slowed, and Japan faced economic challenges.

Investor caution is advised amidst extreme volatility, with a focus on upcoming earnings reports and global tensions.

Related news on that topic:

Markets cautious ahead of key inflation figures

Stock index futures tread cautiously as investors await key inflation figures, including the Consumer Price Index and producer price reports. The S&P 500, Nasdaq 100, and Dow futures saw modest movements, reflecting the uncertainty in the market. The upcoming economic data will provide insights into the health of the economy amid recessionary fears and discussions of a potential Federal Reserve rate cut. Signs of middle-income consumers' spending power and retail sales reports will also be closely watched. The past week was volatile, with stocks tumbling before a seesaw session on Friday. Global markets are also bracing for potential impacts, with concerns over a slowdown and the unwinding of the yen carry trade. Overall, investors are preparing for another big week, anticipating market excitement and closely monitoring the data and earnings reports for potential market reactions.

Looking Ahead: Key Inflation Data and Economic Reports to Watch

Last week was filled with market volatility, with stocks like S&P 500 and Dow experiencing losses. However, there were some positive highlights, such as Eli Lilly posting blowout quarter while Walt Disney shares fell due to weak theme park performance. Tech stocks like Microsoft are being added for AI growth. Traders have been making adjustments to their portfolios, exiting stocks like Ford and Wynn, while adding stocks like Eaton and AMD. Key inflation data, including PPI and CPI reports, are expected to provide insights into price growth stabilization and potential rate cut expectations from the Fed. This week, we can also expect earnings reports from companies such as Monday.com, Home Depot, Walmart, and Alibaba. Other economic data, including jobless claims, Philly Fed, retail sales, and housing starts, will also be watched closely. Asian stocks are rising ahead of U.S. inflation data, while China's economic slowdown is a concern. India's Nifty 50 faces volatility due to Hindenburg allegations. Overall, investors are preparing for potential market volatility driven by economic data and upcoming events.

Read 40 more recent news on this topic

The press radar on this topic:

Quartz
10. August 2024 um 13:00

Summary of Financial Markets for the Weekend of August 10, 2024

Finance
Economy
Politics
Technical problems on trading platforms; Bank of Japan raises interest rate, causing a 12% drop in the Nikkei index; stocks of automakers and electric vehicles fall; the VIX index reaches its highest level since 2020; Canada has a trade surplus driven by oil and gold; experts suggest buying cryptocurrencies; Dow and other indices rise due to better employment data; Jamie Dimon optimistic about the economy; global stock markets in disarray.
Asia Times
11. August 2024 um 10:08

US, Japan stock bubbles deflate

Finance
Economy
Politics
US, Japan stock markets decline; Japan's economic challenges from high debt, inflation; China's export growth slowing due to weaker US demand; Ukraine's Kursk operation aims to distract Russia, leverage territory, risking escalation as Russia faces pressure to declare war; Japanese stock market sees extreme volatility driven by investor hysteria and uncertainty; investors advised to be cautious and scrutinize upcoming earnings reports and guidance.
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