Global Stock Market Indexes-Weekly Updates (10-14 Oct)
Global Stock Market Indexes-Weekly Updates (10-14 Oct): The global stock market indexes closed mixed during the week ended 14 Oct. The key indexes in the US, European and Asian markets ended on a mixed note amid volatility. Inflation and quarterly results were the main focus worldwide.
Global Stock Market News and Updates
The US Stock Market indexes- Weekly Updates
The key US stock market indexes were mostly lower during the week, as investors weighed inflation data and their implications on Federal Reserve Policy. Investors focus now shifted to quarterly earnings. The defensive healthcare, and consumer staples sectors outperformed during the week while some correction in consumer discretionary and heavyweight communication services was witnessed in the US markets.
The FOMC minutes of the last meeting were released on Wednesday, showing that Fed would continue to increase interest rates and hold them higher until inflation shows signs of decline. Investors were trading cautiously ahead of the inflation data on Thursday and saw a big swing after the labor department showed that the US consumer price increased more than expected. The higher inflation was recorded mainly due to the price increases in medical services, transportation, and housing.
The Treasury yields rose during the week ended 14 October, with the 10-year US Treasury note yield moving above 4 percent while the Two-year yield hit 4.5 percent, its highest level since 2007. At the close, on a weekly basis, Dow Jones gained 1.2 percent while S&P 500 and Nasdaq fell 1.6 percent and 3.1 percent respectively
European Stock Market Indexes- Weekly Updates
European key indexes closed mixed for the week that ended on 14 October. The pan-Europe Stoxx 600 ended marginally lower during the week. European key indexes CAC and DAX ended higher by 1.11 percent and 1.34 percent respectively while FTSE was down by 1.89 percent on a weekly basis.
The economic data released during the week were mixed in European countries. The UK’s economic growth unexpectedly shrank 0.3% sequentially in August due to a fall in industrial output. Industrial production in the eurozone climbed 1.5% sequentially in August—much higher than expected and partially reversing a 2.3% monthly drop in July.
The trade deficit, meanwhile, increased for the 10th month in a row in August to almost EUR 51 billion, up from EUR 34 billion in July, due to the high energy prices. Industrial output in France and Italy rose sharply but fell in Germany. The German government trimmed its economic forecasts for the next two years because of price increases, energy shortfalls, and supply chain disruptions caused by geopolitical tension.
Japan’s Stock Market Index- Weekly Updates
Japanese stock market index erase its early-week losses and closed almost flat after a strong rally on Friday. Investors were cautious ahead of the FOMC minutes and US inflation data as well as the weak currency against the dollar. The positive cues from the US markets after the inflation data prompted investors to bet on the beaten-down stocks on Friday. The US news was the key driver for the Japanese markets on Friday, as investors ignored the weak business confidence data.
China’s Stock Market Index- Weekly Updates
China’s equity market ended higher for the week that ended 14 October, after returning from a weeklong holiday. The Shanghai Composite index gained 1.59% during the week. The market sentiments were positive after the central bank’s supportive comments and in anticipation of policy signals during the communist party congress. The support from the People’s Bank of China in infra and delivery of home projects according to PBOC Governor Y! Gang lifted the market mood last week.
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