Global Stock Market Indexes-Weekly Updates

 

Global Stock Market Indexes-Weekly Updates: The major global stock market indexes ended mostly in the red during the week ended 10 Feb 2023. The stock market indexes in the US, Europe, and China closed lower while Japan’s Nikkei gained during the week.

 

 

The US Stock Market indexes- Weekly Updates

 

The three major US stock market indexes closed lower during the week. The markets declined mainly on negative sentiments and not based on any economic data. The energy sector was the leading gainer while communication services ended in the red during the week.

The statement of Fed officials created some volatility in the markets during the week. On Tuesday markets rallied as Fed Chair Jerome Powell’s stated that the disinflation has begun started and the markets reacted positively. The US stock markets gave up all the previous day’s gain after hawkish comments from other Fed officials. 

The sentiments were also down due to the plunging of Google Parent Alphabet’s shares. Alphabet shares fell more than 7% during the week, after the news that its AI Chatbot ‘Bard’ made a mistake in its first public demo. The yield on the benchmark 10-year U.S. Treasury note gained sharply during the week, as investors appeared to continue digesting the previous week’s strong January payrolls data

 

European Stock Market Indexes- Weekly Updates

 

The major three European stock market indexes ended lower for the week, as investors were concerned that the central bank’s monetary policy tightening could downturn the economy. The policymakers of the European Central Bank continued their hawkish stance in the latest rate-setting meeting to fight against inflation, as the underlying inflation is still very high.

The downside of the markets remained capped as German’s inflation data in January showed better than expected while industrial production fell slightly in December. The UK avoided a recession last year, despite a sharp fall in GDP number in December. The official data showed that the overall GDP number came flat in the last quarter of 2022, avoiding a second consecutive quarter of economic contraction.

 

Japan’s equity market – Weekly Updates

 

Japan’s equity markets closed higher for the week, as the sentiments improved due to the speculation about the potential nominees to be the next governor and deputy governor of the Bank of Japan (BoJ). Investors were concerned, as the nomination of the wrong candidate could impact the financial markets of Japan. The yen strengthened during the week against the U.S. dollar compared to the previous week

 

Chinese Equity Markets- Weekly Updates

 

Chinese stock market index closed lower fearing the spy balloon controversy could offset the expectations of faster economic growth in the country. The incident raised the prospect of further sanctions on China from the US. On the economic front, the consumer price index rose by 2.1% in January compared to the same period in the previous year. The downside of the market was limited as the data came better than expected.

 

If you like the post “Global Stock Market Indexes-Weekly Updates“ please share it with others.

 

You may also like to read,  Indian Stock Market Weekly Update (6 – 10 Feb 2023)

                                          Best Options Trading Books in India-Must Read 2022     

 

Happy Investing!!

Editor’s Desk