Global

This sub-category will have content that discusses what’s happening in the global market. It will also cover the global markets, their indices and more.

It was relatively quiet week for the global stock market, which was expected, on the account of lower investor participation and shortened trading week.

2024 was quite volatile but key markets managed to close the year on high note.

Looking at the overall performance of key stock markets and regions- US market performed better than other despite growth slowdown and uncertainty concerns.

It will be a crucial year for the US market, as President Trump will resume his second term of presidency and investors are closely following his policy moves. 

At the end of the week, Nasdaq 225 closed 0.52% lower, while the broader index S&P 500 was down by 0.48%.

Major European stock indexes traded on a mixed note through the week. Germany’s DAX closed the week 2.75% higher. While France’s CAC 40 Index fell 0.99%. The UK’s FTSE 100 Index gained 0.91%. 

Speaking about the Asian markets, India’s Nifty 50 is up by 1.05% in the last week. Japan’s Nikkei 225 is up by 1.77%.

China stock market declined as weaker than expected manufacturing data impacted investors sentiment. Shanghai Composite is down by nearly 5.55% and Hang Seng is down by 1.64%. 

What Happened in the Stock Market Globally?

It was a holiday shortened week, and stock market across the globe witnessed lower investor participation.

  • The Indian stock market started the year on a high. Nifty 50 reclaimed the 24,000 level and closed the week higher by 1.05%. In 2024, the index closed 8.75% higher, marking ninth consecutive year of positive gains 
  • The US manufacturing PMI jumped to a nine-month high of 49.3 in December 2024, the best reading since March 2024 and an increase from 48.4 in November. Manufacturing makes for 10.3% of the economy.
  • The UK house prices rose most in December, since 2022, according to the Nationwide Building Society. Its house price index rose 0.7% in December from November, exceeding a forecast for a 0.1% increase and on a y-oy basis, the house price index increased 4.7%.
  • Japan Manufacturing activity contracted for a sixth straight month in a row December. The manufacturing PMI reading was 49.6. A level below 50 shows contraction.
  • China’s factory activity increased in December, although at a slower-than-expected pace. The Caixin/S&P Global manufacturing PMI nudged down to 50.5 in December from 51.5 the previous month.

Key Economic Events to Watch in Global Markets in the Upcoming Week

  • On January 6th, the US will release its December 2024 Services PMI and is expected to rise to 58.5 from 56.1.
  • On January 7th, the Euro region will release its CPI (inflation) numbers for December 2024. It was 2.2% in the previous month. 
  • On January 8th, Germany will release its November factory orders and retail sales data. Also, on this day, the US will release its crude oil inventories data that may affect the crude prices. 
  • On January 8th, the Federal Open Market Committee (FOMC) will release its meeting minutes that may impact market moves. 
  • On January 10th, the US will release its non-farm payroll data and unemployment rate for the month of December 2024.

The global market started 2025 with a positive note, but the changing global economic forces will continue to impact investor sentiment. As markets navigate these challenges, next set of key economic data, central bank commentary, corporate earnings growth will be closely monitored for cues about the way forward. As usual, the market is expected to remain volatile in 2025 investors need to make strategic adjustments on a constant basis.

The global market was relatively quiet compared to the previous week and was also the final full week of the year. It was quite a volatile year for the global market with concerns surrounding the global growth slowdown affected investor sentiment. 

If we look at the overall performance of different regions, the US market performed exceptionally well during the year despite the uncertainties. Nasdaq 225 delivered a year-to-date returns of nearly 38% and S&P 500 index delivered nearly about 26% returns. 

The European markets too witnessed extreme volatility during the year. Political unrest in France and demand slowdown in Europe affected the market sentiment. The UK economy showcased some resilience, but failed to post strong gains. French Index- CAC is closing the year in negative down by 2.33% year-to-date. UK’s FTSE and Germany’s DAX posted 5.55% and 19.17% year-to-date returns respectively. 

Speaking about the Asian markets, India’s Nifty 50 is up by nearly 10% this year, Japan’s Nikkei 225 is up by 21%, and Taiwan Weighted is the top performer with nearly 31% gains. 

China, which is reeling from economic slowdown, showcased mixed performance during the year. Shanghai Composite is up by nearly 15% and Hang Seng is up by 20%. 

What Happened in the Stock Market Globally?

  • The Indian stock market was volatile and recorded a minor pullback during the week, with the Nifty 50 down by 0.41% at the end of the week. 
  • In the US, the consumer confidence index fell in December to 104.7 from 112.8 in November. The durable goods order also declined for the fourth month in a row in November, against expectation of a marginal increase of 0.2%. 
  • New home sales in the US in November also came in slightly below consensus forecasts; with adjusted annual sales of 664,000 compared to the expectations for 670,000. Although, the November figure is a substantial improvement over the month prior.
  • The UK’s Office for National Statistics lowered its final estimate for third-quarter economic growth to 0.0% from 0.1%. It also reduced its second-quarter GDP number to 0.4% from 0.5%.
  • Japan’s consumer price index (CPI) rose above-forecast to 3% year-on-year in December, up from 2.6% in November. Industrial production in November fell to 2.3%, compared to a 2.8% rise in October. There was an expectation of a 3.5% fall. Retail sales rose 1.8% in November and rose from October’s 0.1% increase.
  • In China, profits at industrial enterprises declined 7.3% in November compared to the previous year, as per National Bureau of Statistics. November’s reduction was the fourth consecutive monthly decline.

Key Economic Events to Watch in Global Markets in the Upcoming Week

Because of the New Year’s holiday, there are fewer major economic events scheduled for next week.

  • China will release its Manufacturing PMI on December 30th, 2024 and is expected to remain unchanged at 50.3.
  • The US will release its Manufacturing PMI on January 2nd, 2025, and is expected to decline from 49.7 to 48.3. 

As 2024 comes to close, changing global economic forces will continue to impact market sentiment. As markets navigate these challenges, next economic data releases along with the Fed commentary will be closely monitored for cues about the way forward. As the world approaches 2025, investors will need to monitor global volatility and make strategic adjustments on a constant basis.

United States

The US market started the last week of 2024 on an optimistic note, with the Nasdaq and S&P 500 indexes hitting record highs due to increased demand for growth stocks

The S&P 500 index rose 0.96% during the month, and the Nasdaq rose 3.32%. Substantial gains in consumer discretionary and healthcare stocks supported the indexes. Last week, US consumers spent nearly $11 billion online on Black Friday sales, shattering records with an increase in retail sales of 3.4% from last year. 

During the week, the US Labor Department released November Non-farm Payroll data. Nonfarm payrolls rose sharply from October, creating 227,000 new positions and increasing the number of job opportunities. 

Also, Bitcoin crossed the $100K milestone after Trump named pro-crypto Paul Atkins to head the US market regulator, SEC. 

Eurozone

Political instability in France is affecting investor sentiment in the Eurozone area. Key macroeconomic data indicate the economy slowed down in the fourth quarter of the year. 

Retail trade volumes in the region fell 0.5% sequentially in October after rising 0.5% in September, owing primarily to lower sales of non-food products and automobile fuel. Manufacturing in Germany has continued to struggle. Industrial output in the country declined by 1.0% month on month, against the expectations of a 1.2% recovery. Factory orders fell 1.5% monthly, with demand for machinery and equipment falling the most.

Following this, the market is also anticipating a faster pace of policy easing by the European Central Bank.

During the week, key indices such as the CAC 40, DAX, and FTSE advanced by 2.65%, 5.22%, and 0.26%, respectively. 

Asia

The emerging political situation in South Korea concerns investors worldwide and in the Asian region. In Japan, the weakness in the Yen against the USD supported the profit growth outlook for Japan’s export heavy industries. The benchmark index, Nikkei 225, rose 2.33% during the week. 

In China, increased hope of additional stimulus measures, along with resilient manufacturing data, supported the stock market during the week. The Hang Seng and Shanghai Composite Index rose 2.28% and 2.33%, respectively. 

The Indian stock market, meanwhile, staged a strong recovery this week, with the Nifty 50 rising by 2.7% on the back of attractive valuations in large-cap stocks. 

Top Highlights of the Global Stock Market This Week

  • This week, the OPEC+ group decided to postpone the planned supply increases and extend the deep supply cuts to the end of 2026, citing a slowdown in global demand. The group accounts for nearly 50% of the world’s oil supply. 
  • In the US, Federal Reserve chair Jerome Powell indicated that the US economy is in good shape, and any future rate cut move needs a cautious approach. The labor market showed signs of cooling, with better non-farm payroll data released for November.
  • After reporting a slowdown in growth in the July-September quarter, Canada reported another economic shocker. The jobless rate touched an eight-year high of 6.8% in November, the highest level since July 2017, thus boosting calls for a 50-bps rate cut.
  • Despite warnings of an economic slowdown, the German stock market index, DAX, broke the 20,000 barrier for the first time, rising 5.22% throughout the week, supported by gains in the US and Asian stock markets.
  • The Russian economy is slowing down, and inflation is double the government’s target of 2%, on the back of increased war spending. Reports suggest the Russian central bank is contemplating raising key rates by 200 bps to 23% after the Rouble lost 15% of its value against the USD in November.
  • In its December policy meeting, RBI significantly reduced India’s GDP growth estimate for FY25 to 6.6% from 7.2% and raised the inflation estimate to 4.5% for the Jan-March 2025 quarter. 

Key Economic Events to Watch in Global Markets in the Upcoming Week

  • The US Department of Labor Statistics is expected to release the November 2024 inflation data on December 11th. Other key data released during the week will be wholesale trade sales for October and the Producer Price Index for November. 
  • The European Central Bank’s rate cut decision is expected on December 12th. Analysts predict a 25 bps cut in December and four more rate cuts in 2025.
  • UK’s GDP data for October will be released on 13th December.
  • Japan will release its July-September quarter GDP growth numbers on December 8th. The country reported 0.9% GDP in the quarter. 
  • The Reserve Bank of Australia will release its interest rate decision on December 9th.
  • Germany will release its CPI monthly for November on December 10th.
  • In India, the government will release the WPI Inflation data for November 13th December. 

The week ahead holds key events and data releases that could shape market trends. Investors should remain watchful of emerging opportunities and challenges as economic policies and global dynamics evolve.

The US market led the gains on the strength of positive economic indicators, but the global market had a mixed week overall. All three major US indexes—Dow Jones, S&P 500, and Nasdaq—closed the week higher. 

In the US, personal income increased by 0.6% in October—a little more than anticipated—and consumer sentiment remained solid. Additionally, pending home sales exceeded forecasts of a decrease, increasing by 2% in October. However, the manufacturing sector appeared to remain in a slump during October. 

Geopolitical factors were also major drivers of sentiment during the week, as the tariff war is expected to get worse during President Trump’s tenure. 

On the other hand, the accelerated pace of inflation for the second consecutive month in the Eurozone area is impacting retail sales. In Germany, retail sales fell 1.5% sequentially in October, much exceeding the predicted 0.5% drop. Also, in the UK, retail sales volumes fell sharper than estimated in November, and the retail sector’s confidence index was the lowest in two years.

This can result in the European Central Bank delaying the lowering of borrowing costs next month to support growth. 

The lack of any specific triggers caused major Asian indexes to trade on a volatile note. In China, increasing hopes of more stimulus packages to spur growth are helping to offset the tariff concerns. Also, the rising dollar is a major concern, as economies in Asia depend heavily on dollars for their crude purchases, affecting the balance of payment. 

In India, slower-than-expected GDP growth in the second quarter of FY25 dampened the mood. The GDP growth of 5.4% during the quarter was the slowest in the last seven quarters and below the RBI estimate of 7%. 

Top Highlights of the Global Stock Market This Week

  • The US stock market concluded November on a strong note, posting its greatest monthly gains this year. Dow Jones and S&P 500 indexes gained 6.57% and 3.76%, respectively.
  • The US Black Friday sales on November 29th is showing strong online sales despite the inflation concerns. Data from the National Retail Federation shows, it is expecting a record 183.4 million people to make online purchases, slightly up from 182 million in 2023. Adobe Analytics said US consumers had spent $7.9 billion online as of Friday, and expected the final tally to exceed $11 billion at the end of the weekend. 
  • Inflation in the Eurozone area rose to 2.3% in November, above the European Central Bank’s target of 2%. 
  • Despite the challenges in the German economy due to the slowing down of the manufacturing sector, the unemployment rate was 5.9% in November. The number of unemployed people during the month rose by 7,000 to reach 2.86 million, a smaller-than-expected increase of 20,000. 
  • Canada’s GDP growth in the July-September quarter slowed to 1%, further paving the way for rate cuts. Additionally, Trump’s tariff plan on Canada can derail the country’s future growth plan.
  • The Bank of England has issued significant warnings about rising government debt, which could threaten financial stability and increase global borrowing costs. The Office for Budget Responsibility anticipated that the UK national debt would increase from £2.7 trillion at the end of the previous fiscal year to £3.4 trillion by the end of the decade.
  • The Russian economy is showing signs of weakness and instability. Its currency, the Ruble, plunged to its lowest level since the early days of the Ukraine invasion in March 2022.
  • China’s manufacturing PMI crossed the 50 mark in November for the first time since April. It is the second consecutive month of expansion, and a series of recent stimulus measures are gradually showing their effect.

    However, Morgan Stanley analysts predict a volatile 2025 for China’s stock market, citing lower earnings, geopolitical uncertainties, and probable tariffs.
  • India’s GDP growth slowed to 5.4% in the July-September quarter, below the expected line, further putting pressure on the RBI growth forecast of 7.2% in FY25. In the April-June quarter, the GDP growth was 6.2%. 

Key Events to Watch in Global Markets in the Upcoming Week

  • The Federal Open Market Committee (FOMC) will release its meeting minutes, possibly providing insights into the Federal Reserve’s plan for future interest rate decisions and the December rate cut. 
  • Another important dataset to monitor next week is the US non-farm payroll data, which will be crucial to understanding the state of the US economy and labor market. 
  • The European Central Bank’s policy decisions and statements will be closely watched for any changes in monetary policy amidst rising inflation levels above the target and increasing risk of recession in the region.
  • Investors will also focus on China’s export and import data, which can give clues about global demand and domestic consumption. 
  • The OPEC + meeting on crude production and supply cuts is scheduled for December 5th. The group will discuss whether to continue increasing production by 180,000 barrels a day in January amidst the softening crude price. Brent Crude is trading around the $70 level and showing signs of weakness.

The global stock market recovered some of the previous week’s losses despite the uncertainty surrounding incoming President Trump’s administrative policies. Escalating geopolitical tension stemming from Russia-Ukraine added to the uncertainty. 

On the other hand, the market is discussing the strength of the US dollar. In the last 30 days, the Dollar Index strengthened by 3.1%. If the momentum continues, it could hurt emerging economies. 

Brent Crude continued to trade under downward pressure, hovering around the $70 level. Gold, which was going strong through 2024, now faces some selling pressure and traded flat during the week. 

Let’s look at how the major stock market indices performed this week.

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones0.971.96
S&P 5000.351.68
Nasdaq0.201.77
European Markets
FTSE 1001.371.17
CAC 400.57-1.56
DAX0.91-0.26
Asian Markets
Nifty 50 2.391.86
Nikkei 2250.67-2.69
Straits Times0.181.94
Hang Seng-1.93-8.22
Taiwan Weighted1.52-2.16
KOSPI0.82-2.56
SET Composite0.40-1.59
Jakarta Composite0.77-0.67
Shanghai Composite-3.16-5.86

The US market displayed strength during the week, supported by better-than-expected PMI data. Both the manufacturing and services sector PMIs reported were up during the month. 

Also, Nvidia’s third-quarter result appeared to satisfy investors, driving optimism in the market. Google parent Alphabet’s share seemed to be under pressure as the Department of Justice proposed breaking up the internet search giant to maintain transparency and fair gameplay. 

Let’s check how the top US indices performed during the week.

Dow Jones

The rally in Boeing shares supported the Dow Jones 30 stock index, which rose nearly 1% on Friday and posted a total gain of 1.96% week-on-week. 

S&P 500

Better economic data and improved consumer sentiment reports supported the S&P 500 index higher during the week. On Friday, the index was up by 0.35%, and on a weekly basis, it was up by 1.68%.

Nasdaq

The Nasdaq was flat on Friday due to selling in Nvidia and Alphabet. At the end of Friday, it was up 0.20%, while the index concluded 1.77% higher on a weekly basis. 

Rising hopes of another rate cut by the European Central Bank (ECB) in December after multiple economic indicators signaled a deterioration in the economic outlook drove the market higher. 

The HCOB Flash Eurozone Composite PMI Output Index fell to a 10-month low of 48.1 in October, as growth in the manufacturing sector contracted and the services sector struggled, indicating a recession-like situation. 

Now, let’s look at how different economies performed during the week. 

FTSE 100

The Weaker Pound drove the UK market higher during the week. The decline in the currency is beneficial for the UK economy as most of the large companies are export-driven, and the dollar’s strength could aid revenue growth. 

On Friday, FTSE 100 was up by 1.37%, and on a week-on-week basis, it was up by 1.17%.

CAC 40

The Paris stock index, CAC 40, closed higher on Friday by 0.57%, supported by gains in healthcare stocks, consumer goods, and technology. However, the index was down by 1.56% on a weekly basis.

DAX

Increasing geopolitical risks and deteriorating economic conditions in Europe resulted in a weak stock market index in Germany, Europe’s largest economy. On Friday, the DAX was up by 0.91%, but on a week-on-week basis, it was down by 0.26%. 

Asian stocks continued to trade volatile during the week, as mixed signals from the global market kept investors looking for signals. Uncertainty around the Chinese economic revival is also adding to the volatility.  

Now, look at how the major stock market index performed during the week.

Nifty 50

Despite the volatility arising from the sell-off in Adani Group stocks, the Indian stock market displayed resilience. On Friday, the Nifty 50 closed 2.39% higher, and on a week-on-week basis, it ended 1.86% higher. 

Nikkei 225

Gains in gas and water, transportation equipment, and banking stocks led to 0.67% gains in Nikkei 225. However, heightened geopolitical tensions and uncertainty around Trump administration policies dented investors’ risk appetite. On a weekly basis, the index was down by 2.69%. 

Straits Times

Singapore’s primary stock market index, Straits Times, traded positively during the week. During Friday’s session, it was up by 0.18%, and on a week-on-week basis, it closed 1.94% higher. 

Hang Seng

Chinese stocks fell as fears about the impending Trump government policies curbed risk appetites. Officials in Beijing have hinted at additional stimulus measures in the near term, including the possibility of lowering the reserve requirement ratio for domestic banks to boost growth. 

In Hong Kong, the benchmark Hang Seng Index declined 1.93% on Friday; on a week-on-week basis, it fell sharply by 8.22%. 

Taiwan Weighted

Following the global cues, Taiwan’s primary stock market index, the Taiwan Weighted Index, traded positively during Friday’s session. It was up by 1.52% at the end of Friday’s session. On a week-on-week basis, it closed 2.16% higher. 

KOSPI

Positive trade data lifted South Korean stocks on Friday, closing with 0.82% gains. However, the index closed lower by 2.56% due to higher volatility during the week. 

SET Composite

Thai stocks traded flat On Friday, with the index rising slightly by 0.40%. And, on a weekly basis, the index lost 1.59%

Jakarta Composite

The Indonesian stock market index, Jakarta Composite, was up 0.77% on Friday, helping it recover some of its losses during the week. It closed 0.67% lower. 

Shanghai Composite

Heightened uncertainty around the Chinese economy caused the Shanghai Composite to trade lower by 3.16% on Friday. On a week-on-week basis, the index was down by 5.86%. 

Wrapping Up

This week, global stock markets showed mixed trends. US markets gained strength thanks to good economic data and Nvidia’s positive results. In Europe, weak economic indicators raised fears of a slowdown, while Asian markets remained volatile due to Chinese economic concerns and geopolitical tensions.

Amid these evolving dynamics, investors should remain cautious as they navigate these global uncertainties and sector-specific challenges.

The global stock market continues to be in a volatile state for the second consecutive week, with all leading stock market indexes recording heavy losses during the week. 

Multiple factors are at play, resulting in a volatile market condition. The fear of a trade war with China has grown since Trump elected as the next president. Also, Fed’s recent hawkish remarks about rate cuts have also increased market uncertainty.

On the other hand, the price of gold and crude has been impacted by the dollar’s strength. While Brent Crude is trading close to the $70 mark, gold is down by more than 6% over the past seven days. 

The Dollar Index (DXY) has increased by more than 3% in the past month.

Now, let’s take a look at how the major stock market indices performed this week.

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones-0.70-1.24
S&P 500-1.32-2.08
Nasdaq-2.21-3.11
European Markets
FTSE 100-0.09-1.26
CAC 40-0.58-1.36
DAX-0.28-0.84
Asian Markets
Nifty 50 -0.11-2.35
Nikkei 2250.28-1.78
Straits Times0.171.90
Hang Seng-0.05-7.29
Taiwan Weighted0.12-2.85
KOSPI-0.08-5.85
SET Composite-0.52-1.84
Jakarta Composite-0.74-1.14
Shanghai Composite-1.47-4.03

In the US, the ongoing uncertainty about the new administration’s policies kept fueling the volatility in the market. Different sectors showed varied returns, with financial and energy stocks benefiting from expectations of deregulation and merger approvals. 

Also, the cautious tone of Fed Chair Powell on future rate hike has resulted in bearish sentiment in the market.

Let’s check how the top US indices performed during the week.

Dow Jones

The Dow Jones 30 stock index traded on a weak note on Friday, falling by 0.70%. The index was dragged by technology stocks. Amazon was the top loser during Friday’s session, declining 4.8%. Compared to the previous week, the index is down by 1.24%. 

S&P 500

Weakness in technology and healthcare stocks pulled the S&P 500 index lower during the week. During Friday’s session, the index was down by 1.32%, bringing the cumulative loss for the week to 2.08%. 

Nasdaq

Profit taking in technology stocks resulted in a sharp decline in the Nasdaq. On Friday, the index was down by 2.21%, and on a week-on-week basis, it lost 3.11%. 

The struggling European economy continues to hurt the stock market. Euro area data suggests a soft landing, reducing the risks of a technical recession. 

According to the minutes of the meeting, the European Central Bank’s quarter-percentage cut in rate last October was prompted by the rising risk of a deflationary condition in the economy. 

Now, let’s look at how different economies performed during the week. 

FTSE 100

The three months leading up to September saw an unexpected slowdown in the UK economy. GDP was recorded at 0.1%, less than the consensus estimate of 0.2% and lower than the 0.5% recorded in the previous quarter. 

The contraction in economic activity is due to the slowdown in manufacturing output and lower growth in the services sector. 

FTSE 100, the primary stock market index of the UK, traded flat on Friday, but on a week-on-week basis, it was down by 1.26%. 

CAC 40

France stocks traded lower on Friday. The technology, healthcare, and consumer services stocks contributed to the weakness. CAC 40 declined 0.58% on Friday, and compared to the last week, it closed lower by 1.36%. 

DAX

Economists expect the German economy to contract by 0.1% in the last quarter because of the market-wide slowdown in the continent. The German stock market index traded lower on Friday, down by 0.28%. On a week-on-week basis, the index closed slightly lower by 0.84%. 

The Asian market presented a mixed picture. Growing concerns about a trade war had the most impact on the Chinese market. Additionally, domestic variables impacted the Asian indexes as a whole. 

Let’s now have a look at how the major stock market index performed during the week.

Nifty 50

As corporate earnings growth slowed in the July-September quarter, the Indian market remained volatile. Analyst expectations that Nifty 50 companies would report lower single-digit earnings growth in FY25 impacted investor mood. 

On Friday, the index closed slightly lower by 0.11%. However, on a weekly basis, it was down by 2.35%. 

Nikkei 225

The prospects for Japanese businesses that export a lot to the United States were hampered by the possibility that President-elect Donald Trump’s new administration might increase tariffs, resulting in a volatile market condition. At the close on Friday, Nikkei 225 was slightly up by 0.28%. But on a week-on-week basis, it was down by 1.78%. 

Straits Times

Singapore’s primary stock market index, Straits Times, traded positively during the week. During Friday’s session, it was up by 0.17%, and on a week-on-week basis, it closed 1.90% higher. 

Hang Seng

Weakening Yea, persistent deflation-like conditions, and worries about potential US tariffs under the Trump administration continue to hurt the Chinese equity market. In Hong Kong, the benchmark Hang Seng Index traded flat on Friday, but on a week-on-week basis, it fell sharply by 7.29%. 

Taiwan Weighted

Mirroring the US market, Taiwan’s primary stock market index, the Taiwan Weighted Index, traded flat during Friday’s session. It was up by 0.12% at the end of Friday’s session. On a week-on-week basis, it closed 2.85% lower. 

KOSPI

Lingering uncertainties regarding the future direction of US interest rates and the US policies under the Trump administration continue to hurt the South Korean market. On Friday, KOSPI traded flat, and on a weekly basis, it was down by 5.85%. 

SET Composite

Following the global cues, Thai stocks continued to trade weak. On Friday, the index was down by 0.52%. And, on a weekly basis, the index lost 1.84%

Jakarta Composite

The Jakarta Composite index of the Indonesian stock market fell 0.74% on Friday, and the index’s weekly cumulative loss was 1.14%.

Shanghai Composite

The economy’s mixed outlook caused volatility in the Chinese market. China’s consumer price index increased by less than the forecast 0.3% in October compared to 0.4% in September. The producer price index fell 2.9% year over year, above analysts’ forecasted 2.5% decline and speeding up from September’s 2.8% decline, accelerating the deflation rate at the factory gate.

On Friday, the Shanghai Composite was down by 1.47%; on a week-on-week basis, the index was down by 4.03%. 

Wrapping Up

Global markets are expected to remain volatile as multiple uncertainties persist, including U.S. policy directions, rate hikes, and economic indicators from key regions. While investor sentiment is cautious, market performance will be closely tied to policy developments and economic data releases in the coming weeks. Traders should stay vigilant and diversified as the balance of risk and opportunity shifts.

Confusing economic indicators, mixed with corporate earnings announcements, kept the markets volatile during the week. The market is now looking forward to the Fed meeting next week, in which the next rate cut will be discussed. In the event of an announcement of a 25-basis-point rate cut, the market may move higher. 

In the Eurozone, rising inflation is again causing policymakers to worry, and profit booking in Chinese and other major Asian indices kept the market under pressure. 

On the other hand, Brent Crude continues to trade at around the $75 level, and gold prices have been flat during the week. 

Let’s look at how the major stock market indices performed this week

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones0.69-0.15
S&P 5000.41-1.37
Nasdaq0.80-1.50
European Markets
FTSE 1000.82-0.93
CAC 400.79-2.23
DAX0.92-0.61
Asian Markets
Nifty 50 0.410.36
Nikkei 225-2.70-3.92
Straits Times-0.10-0.69
Hang Seng0.92-2.78
Taiwan Weighted-0.18-0.53
KOSPI-0.542.23
SET Composite-0.13-0.40
Jakarta Composite-0.91-2.46
Shanghai Composite-0.241.69

The US market traded volatile during the week as traders reacted to the below-expected non-farm payroll data and a slowdown in manufacturing activity in October due to storms and strikes at Boeing factories. Investors are also betting on the dovish Fed, which supports the market.

Let’s check how the top US indices performed during the week.

Dow Jones

Supported by gains in technology stocks, the Dow Jones index rose 0.69% on Friday, helping it recover some of its weekly losses. Compared to the previous week, the index is down 0.15% this week. 

S&P 500

The S&P 500 index finished lower during the week due to a lack of strong market triggers and mixed investor sentiments. The market is now looking forward to the Fed’s rate cut glide, which will decide its direction for the upcoming weeks. 

At Friday’s close, the index closed slightly higher at 0.41%, but compared to the previous week, it was down by nearly 1.37%. 

Nasdaq

With rising demand for tech stocks, Nasdaq continues to trade with a bullish sentiment. Intel’s stock gained close to 8% on Friday, helping the index close higher by 0.80%. However, on a week-on-week basis, it was down by 1.50%. 

European investors continue to worry about the potential for escalating conflict in the Middle East, poor corporate results, a moderating expectation of further rate increases by the European Central Bank, and rising inflation. Meanwhile, the Eurozone economy grew by 0.4% in the third quarter, double the consensus estimate. 

Now, let’s look at how different economies performed during the week. 

FTSE 100

To strengthen the UK economy, UK Chancellor of the Exchequer Rachel Reeves announced additional spending of GBP 70 billion over the next five years. The funds will be raised through a combination of tax increases and borrowings. Also, the economy is expected to grow by only 1% to 2% next year.

In Friday’s session, the UK’s primary stock market index rose by 0.82%. However, on a week-on-week basis, it was down by 0.93%. 

CAC 40

Gains in Healthcare, technology, and industrial utility stocks drove France’s primary stock market index higher on Friday, up 0.79%. However, compared to the last week, the index closed lower by 2.23% at the end of the week. 

DAX

Like other major European indices, the German stock market index traded higher on Friday, up 0.92%. However, compared to the previous week, the index was slightly down 0.61%. 

Compared to the US and European markets, the Asian market was much more volatile due to heightened FII activity and uncertainties around economic activities. 

Let’s now have a look, how the major stock market index performed during the week.

Nifty 50

The Indian market remained volatile as corporate earnings growth slowed, weighing on investor sentiment. On Friday, a Muhuraat trading day, the index closed 0.41% higher. On a weekly basis, it increased by 0.36%. 

Nikkei 225

Japan’s stocks fell after the close on Friday, with losses in the transportation equipment, rubber, and pharmaceutical sectors driving the decline. At the close, the Nikkei 225 fell 2.79%. On a week-on-week basis, it was up 0.78%. 

Straits Times

Singapore’s primary stock market index, Straits Times, traded flat during the week. During Friday’s session, it was slightly down by 0.10%; on a week-on-week basis, it closed 0.69% lower. 

Hang Seng

Chinese stocks fell despite data indicating an increase in economic activity. The benchmark Hang Seng Index fell 2.78% by the end of the week. However, Friday’s gain of 0.92% kept the weekly loss under 3%.

Taiwan Weighted

Taiwan’s primary stock market index, the Taiwan Weighted Index, traded flat during Friday’s session and was down by 0.18% at the end. On a week-on-week basis, it was down 0.53%. 

KOSPI

The South Korean stock market traded on a mixed note on Friday. Weakness in tech and financial shares resulted in KOSPI closing 0.54% lower. However, on a weekly basis, it was up by 2.23%. 

SET Composite

Thai stocks were weak for the second consecutive week, closing slightly lower by 0.13%. The index was down by 0.40% on a weekly basis.

Jakarta Composite

The Indonesian stock market index, Jakarta Composite, was down by 0.91%. On a weekly basis, the index was down by 2.46%.

Shanghai Composite

China’s factory activity increased for the first time since April due to higher demand. The official manufacturing purchasing managers’ index (PMI) rose to 50.1 in October, up from 49.8 in September, exceeding expectations.

In addition, the value of new home sales by the country’s top 100 developers increased by 7.1% year on year after falling 37.7% in September, marking the first year-on-year growth in 2024. The first batch of major economic indicators following the implementation of Beijing’s broad stimulus package showed early signs of recovery in the Chinese economy. On Friday, the Shanghai Composite was slightly down by 0.24%; on a week-on-week basis, the index closed higher by 1.69%. 

Wrapping Up

Looking ahead, global markets are focused on the Fed rate cut cycle and its commentary on the timeline and state of the economy. Markets are expected to remain volatile due to mixed economic indicators, uncertain corporate earnings, and rising geopolitical tensions.

With the US and European economies facing challenges and inflationary pressures, particularly in the Eurozone, investor sentiment has been cautious. Meanwhile, in Asia, favorable economic indicators in China due to stimulus measures are boosting the market. 

Mixed economic data and corporate earnings kept the global market volatile this week. Also, the uncertain economic conditions in the US and Europe, geopolitical tensions in the middle-eastern region involving Israel and Iran are keeping investors on the edge. 

Throughout the week, Brent Crude traded around $75, and gold prices continued to rise. Gold prices are up more than 3% this week, and 33% year-to-date, making it the best ever run in the last few years. 

Now, let’s take a look at how the major stock market indices performed this week.

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones-0.61-2.68
S&P 500-0.03-0.96
Nasdaq0.560.16
European Markets
FTSE 100-0.25-0.06
CAC 40-0.08-1.06
DAX0.110.46
Asian Markets
Nifty 50 -0.90-2.86
Nikkei 225-0.60-4.27
Straits Times-0.320.38
Hang Seng0.49-2.38
Taiwan Weighted0.671.95
KOSPI0.09-0.65
SET Composite0.19-0.45
Jakarta Composite-0.282.31
Shanghai Composite0.592.55

During the week, growth and tech stocks continued to outperform the broader market. Overall, the momentum of the market continues to be in the positive zone with improved investors’ sentiment. 

Let’s check how the top US indices performed during the week. 

Dow Jones

Weakness in the financial and consumer defensive stocks kept the 30 stocks index- Dow Jones under pressure during the week. McDonald was the worst performer in the index during the week, and is down by 7.66% at close. 

On Friday, the index closed 0.61% lower and on a week-on-week basis, it was down by 2.68%. 

S&P 500

S&P 500 index finished lower this week after posting gains for six consecutive weeks. However, the sentiment continues to be positive on the back of supporting economic data reports.

At close on Friday, the index closed flat and compared to previous week, it was down by nearly 1%. 

Nasdaq

Nasdaq gained on the back of heavy demand for tech stocks. Stocks of Intel, Tesla, Super Micro Computers were the top gainers. In Friday’s session, the index was up by 0.56% at close and on a week-on-week basis, it was up by 0.16%. 

Shrinking economic activity in the Eurozone area continues to affect investors’ sentiment and ECB officials are divided over the pace of future rate cuts, with no signs of revival. France and Germany, the two largest economies in the Eurozone, continue to be the biggest source of weakness in the economy. 

Now, let’s look, how different economies performed during the week. 

FTSE 100

In the UK, an early estimate from S&P Global put composite PMI at an 11-month low of 51.7 in October, down from 52.6 in September, as new orders slowed. Also, the UK consumer confidence in October fell to its lowest level this year. 

In Friday’s session, the index was down by 0.25%, and on a week-on-week basis, it closed flat. 

CAC 40

Losses in technology, financial, and utility stocks drove France’s primary stock market index, the CAC 40, lower this week. The index traded flat on Friday and closed 1.06% lower at the end of the week. 

DAX

It was a mixed week for the German stock market as investors tried making sense of the market. On Friday, the index traded flat and closed 0.11% higher and compared to previous week, it was up by 0.46%. 

Compared to the US and European markets, the Asian market was much more volatile due to heightened FII activity and uncertainties around the economic activities. 

Let’s now have a look, how the major stock market index performed during the week. 

Nifty 50

The Indian market continued to be volatile and registered the worst month since the Covid. It’s primarily because of heavy FII selling in October and muted corporate earnings growth. On Friday, the index closed 0.90% lower, and on a week-on-week basis, it was down by 2.86% lower. Alone in October, Nifty 50 has corrected by more than 6%. 

Nikkei 225

Japan’s stock markets lost ground over the week because of the weakening dollar and rising inflation hurting economic growth. On Friday, Nikkei 225 was down by 0.60% and on a week-on-week basis, it posted losses of 4.27%. 

Straits Times

Singapore’s primary stock market index, Straits Times, traded flat during the week. During Friday’s session it was down by 0.32% and on a week-on-week basis, it closed 0.38% higher. 

Hang Seng

Chinese stocks continued to move higher on the back of more stimulus packages announced by the country’s central bank, raising hopes of economic revival. Despite the positive sentiment, profit booking resulted in the Hang Seng index to trade lower during the week. On Friday, it was slightly up by 0.49%, and on a week-on-week basis, the index was down by 2.38%.

Taiwan Weighted

Taiwan’s primary stock market index, Taiwan Weighted Index, traded higher on Friday’s session and was up by 0.67%. On a week-on-week basis, it was up by 1.95%. 

KOSPI

The South Korean stock market traded on a mixed note during the week. In Friday’s session, the South Korean stock market closed flat and on a weekly basis, it was down 0.65%. 

SET Composite

Thai stocks traded weak during the week and closed flat with a slight gain of 0.19% on Friday. On a weekly basis, the index was down by 0.45%.

Jakarta Composite

The Indonesian stock market index, Jakarta Composite, traded flat on Friday, up 0.23%. On a weekly basis, the index closed with another week of gains, increasing by 2.31%.

Shanghai Composite

On the back of more stimulus packages and cheaper consumer credit, the market sentiment has improved a lot with FIIs betting more on Chinese stocks. On Friday, the Shanghai Composite was up by 0.59% and on a week-on-week basis, the index closed 2.55% higher. 

Wrapping Up

Looking ahead, global markets are likely to remain volatile due to mixed economic indicators, uncertain corporate earnings, and rising geopolitical tensions. With the US and European economies facing challenges and inflationary pressures, particularly in the Eurozone, investor sentiment has remained cautious. Meanwhile, in Asia, China’s stimulus measures and ongoing FII activity continue to shape the market landscape, increasing volatility and growth potential.

Rising gold and stable crude prices also point to a defensive stance, with gold posting strong year-to-date gains. Amidst these global dynamics, investors can expect short-term market swings and should be prepared for both opportunities and risks in the coming weeks.

This week, the global stock market traded on a mixed note, with investors largely optimistic and looking for the next big trigger to push higher. The central bank continues to unveil more support for the struggling economy in China as data indicated growing deflationary pressures. In Europe, favorable inflation data prompted countries to cut rates further to boost growth.

Crude oil dropped by more than 6.5% last week as fears of Israel striking Iran’s petroleum infrastructure subsided. Gold, on the other hand, continued to soar higher, gaining 2% during the week. 

Let’s look at how the major stock market indices did this week

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones0.090.96
S&P 5000.400.85
Nasdaq0.630.80
European Markets
FTSE 100-0.321.27
CAC 400.390.46
DAX0.381.46
Asian Markets
Nifty 50 0.46-0.71
Nikkei 2250.18-1.58
Straits Times0.411.68
Hang Seng3.48-1.37
Taiwan Weighted1.852.56
KOSPI-0.60-0.25
SET Composite-0.351.34
Jakarta Composite0.323.18
Shanghai Composite2.831.36

Encouraging economic indicators in the third quarter has boosted investors’ confidence in the US market. The value of US retail sales increased 0.4% in September, up from 0.1% in August. However, industrial production dropped 0.3% in September, against 0.3% growth in August. The Federal Reserve has attributed this decline to Hurricanes and strikes at the Boeing factories. 

Let’s check how the top US indices performed during the week. 

Dow Jones

Dow Jones struggled to gain ground on Friday, with a significant pullback in American Express stock causing the index to close flat. Weekly, the index closed 0.96% higher. 

S&P 500

Strength in utility and real estate stock pushed the broader S&P 500 index 0.40% higher on Friday, helping the index to close the week 0.85% higher and post a sixth consecutive weekly gain. 

Nasdaq

Netflix’s better-than-expected quarterly performance, which resulted in the stock rising 11%, pushed the Nasdaq up 0.63% on Friday. On a week-on-week basis, the index closed higher by 0.80%.

The European Central Bank cut key deposit rates to 3.25%, marking the first back-to-back reduction in 13 years. The European Commission’s statistics office reported that annual inflation was 1.7% in September, down from its initial estimate of 1.8% and well below the ECB’s target of 2%.

Now, let’s look at how different economies performed during the week. 

FTSE 100

Slower-than-expected UK inflation and a decline in wage growth paved the way for the Bank of England (BoE) to lower borrowing costs. In Friday’s session, FTSE 100 traded slightly weak and was down by 0.32%. It increased by 0.46% on a week-on-week basis.

CAC 40

Gains in consumer goods, technology, and essential materials drove France’s primary stock market index, the CAC 40, higher this week. The index rose 0.39% on Friday and 0.46% on the week. 

DAX

The rate cut boosted the German stock market to close at a record high at the end of the week, gaining 0.38% on Friday. On a week-on-week basis, the index was 1.46%. 

Strength in the Japanese and Chinese indices helped the other major Asian indices trade with a positive bias this week. Due to improved sentiment, the positive momentum is likely to continue.  

Look at how the major stock market index performed during the week. 

Nifty 50

The Nifty 50 was volatile during the week due to mixed quarterly earnings reports. On Friday, the index closed 0.46% higher, but on a week-on-week basis, it was down by 0.71% higher. 

Nikkei 225

Factors like easing inflation and reduced chances of a rate hike again this year have kept Japan’s primary stock market index, Nikkei 225, less volatile. On Friday, the index was up by 0.18%, but on a week-on-week basis, it lost 1.58%. However, the weakening of the Yen has been a cause of concern for policymakers.

Straits Times

Singapore’s primary stock market index, Straits Times, traded with a positive bias. During Friday’s session, it was up by 0.41%, and on a week-on-week basis, it closed higher by 1.68%.

Hang Seng

Chinese stocks rebounded in Friday’s session as the world’s second-largest economy posted better-than-expected economic growth. However, the concern about deflation remains. On Friday, the Hang Seng index was up by 3.48%, helping to recover some of the weekly losses. Week-on-week, the index was down by 1.37%.

Taiwan Weighted

Taiwan’s primary stock market index, the Taiwan Weighted Index, traded higher on Friday, up 1.85%. On a week-on-week basis, the index rose 2.56%. 

KOSPI

Profit booking on Friday’s session caused the South Korean stock market to close 0.60% lower, pulling the index down on a weekly basis. It was down 0.25%. 

SET Composite

Thai stocks traded weak during Friday’s session, closing down 0.35%. However, the index rose 1.34% weekly, maintaining positive momentum for another week.

Jakarta Composite

The Indonesian stock market index, Jakarta Composite, traded flat on Friday, slightly up by 0.32%. On a weekly basis, the index was up 3.18%.

Shanghai Composite

China’s third-quarter GDP increased by 4.6% compared to last year, exceeding expectations and allowing the stock market to continue its bullish performance. On Friday, the Shanghai Composite rose 2.83%, reversing its weekly losses. It increased by 1.36% over the previous week.

Wrapping Up

As we wrap up the week, global stock markets showed mixed trends, with optimism rising as investors watch for the next big trigger. Key economic updates from China and Europe are shaping the outlook, while crude oil has sharply dropped, providing comfort to emerging economies. The U.S. markets remained strong, while Europe showed resilience with rate cuts fueling growth. Asian markets, too, witnessed some volatility but showed positive momentum. 

The focus will be on how global economic factors, especially in China and Europe, continue to impact markets and investor sentiment.

The news of China’s stimulus package to shore up the falling economy boosted the global stock market. Also, the outperformance in technology, chemical, and material stocks supported the market to move higher on expectations of a rebound in Chinese demand.

Crude Oil has found some support and was steady during the week. Brent Crude gained close to 1% during the week and is trading close to $75 level. On the other hand, Gold is continuing to experience upward pressure in prices and has gained 3% during the week, taking the total yearly gains to close to 30%. 

Now, let’s take a look at how the major stock market indices did this week.

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones0.330.59
S&P 500-0.130.62
Nasdaq-0.390.95
European Markets
FTSE 1000.430.62
CAC 400.643.88
DAX1.214.74
Asian Markets
Nifty 50 -0.161.09
Nikkei 2252.277.51
Straits Times-0.253.84
Hang Seng3.4318.19
Taiwan Weighted-0.168.20
KOSPI-0.822.67
SET Composite-0.346.20
Jakarta Composite-0.620.31
Shanghai Composite2.8010.89

The US stock market indices were steady during the week and gained slightly during the week. Cooling inflation data has once again sparked optimism for further rate cuts and accommodative monetary policy. However, the news of falling consumer confidence in August resulted in a bit of volatility in the market. 

Let’s check how the top US indices performed during the week. 

Dow Jones

Supported by cooling inflation data, the Dow Jones Industrial Average hit a new record high level on Friday. It was up by 0.33% at the end of the day, and on a weekly basis, the index was up by 0.59%. 

S&P 500

The release of consumer confidence and weaker-than-expected personal spending and personal income reports put some pressure on the S & P 500 index on Friday. It closed 0.13% lower. On a week-on-week basis, the index gained 0.62%, maintaining the positive momentum.  

Nasdaq

Profit booking in top tech stocks like Nvidia, AMD, and Micron pulled the index down on Friday and closed 0.39% lower. But, on a week-on-week basis, the index was up by 1%. 

Following the global cues, the European stock market traded with a positive bias. However, the fading of the Olympic effect has resulted in shrinking of business activity in the Eurozone area in September. Manufacturing activity is contracting at a faster pace, which is a cause of worry for investors. 

Now, let’s look, how different economies performed during the week. 

FTSE 100

The UK economy is showing signs of improvement as Private sector activity has now expanded for the 11th month in running. Inflation has now eased across the economy to a 42-month low level. On Friday, FTSE 100 traded sideways, but was steady. It increased by 0.43% and on a week-on-week basis, it was up by 0.62%.

CAC 40

Gains in consumer goods, technology, and consumer services drove France’s primary stock market index, CAC 40 higher during the week. In Friday’s session, it was up by 0.64% and on a weekly basis, the index was up by 3.88%. 

DAX

German business activity has declined the most in seven months as business morale and consumer confidence remained low in September, adding to signs that the economy might be entering a recession. 

However, the German stock market traded on a positive note, following the global cues. On Friday, DAX was up by 1.21% and on a week-on-week basis, the index was up by close to 5%. 

The leading Asian stock market indices were fuelled by rising expectations of accomodative monetary policy from the Fed and China’s economic stimulus. Also, domestic factors contributed to the rising market. 

Let’s now have a look, how the major stock market index performed during the week. 

Nifty 50

The Nifty 50 continues to trade with a positive bias, and once again reached a new all-time high level. On Friday, the index closed slightly lower by 0.16% on account of profit booking from the higher level. But, on a week-on-week basis, Nifty 50 gave a positive closing at 1.09%.

Nikkei 225

Supportive global factors, and dovish Bank of Japan are providing favorable support to the Japanese stock market. Nikkei 225 closed 2.27% higher at the close on Friday, and the week and the index closed 7.51% higher. 

Straits Times

Singapore’s primary stock market index, Straits Times traded sideways during Friday’s session and was slightly down by 0.25% and on a week-on-week basis, it closed higher by 3.84%.

Hang Seng

Chinese stocks surged after Beijing announced the economic stimulus package. The stocks in Hong Kong stock market also benefited. On Friday, Hang Seng index was up by 3.43%, taking the weekly cumulative gains to 18.19%. 

Taiwan Weighted

Taiwan’s primary stock market index, Taiwan Weighted Index, traded flat on Friday, and was slightly down by 0.16%. On a week-on-week basis, it was up by 8.20%. 

KOSPI

Profit booking in South Korean shares led the country’s primary stock market index, KOSPI, to trade lower, down 0.82%. However, it closed the week on a positive note, up 2.67%. 

SET Composite

Thai stocks traded flat on Friday, closing down 0.34%. However, on a weekly basis, the index rose 6.20%, allowing it to maintain its strong bullish momentum for another week.

Jakarta Composite

The Indonesian stock market index, Jakarta Composite, fell 0.62% on Friday. On a weekly basis, the index rose 0.31%.

Shanghai Composite

The Shanghai Composite Index climbed 10.89% at the end of the week, marking the best ever performance by the index in recent times. On Friday, the index was up by 2.80%. 

Wrapping Up

The global stock markets have shown positive momentum this week, largely fueled by China’s stimulus package aimed at reviving its economy. Sectors like technology, chemicals, and materials saw significant gains on hopes of increased Chinese demand. Crude oil prices also stabilized, while gold continued its upward trend, reflecting growing investor interest.

Despite these positive signs, the road ahead remains uncertain. Investors should stay cautious and keep an eye on global developments as market dynamics evolve in the coming weeks.

The global market celebrated the Federal Reserve’s 50 bps rate cut this week, as stocks moved to new higher levels except the European market.

It was the Fed’s first rate cut in four years, and it also kicked off the rate-cutting cycle this decade. The Fed struck a balance between not fueling inflation further and boosting slowing economic growth by implementing an unusual higher percentage point rate cut. 

Overall, market sentiment is improving, and as economic conditions improve, we may see more growth in the market; however, volatility is likely to persist. 

In the last week, Brent Crude has gained some ground after sliding below $70 level. It has gained close to 5% this week. On the other hand, Gold prices also hit new higher levels and has gained nearly 5.5% this week, as risk aversion sentiment persists. 

Let’s take a look at how the major stock market indices did this week.

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones0.091.62
S&P 500-0.191.36
Nasdaq-0.361.49
European Markets
FTSE 100-1.20-0.48
CAC 40-1.54-0.01
DAX-1.510.69
Asian Markets
Nifty 50 1.481.55
Nikkei 2251.512.28
Straits Times-0.235.33
Hang Seng1.344.59
Taiwan Weighted0.535.06
KOSPI0.480.49
SET Composite-0.226.31
Jakarta Composite-2.100.91
Shanghai Composite0.03-1.70
Source: Moneycontrol.com

Profit booking on Friday’s session led to some reversal of Thursday’s gain as traders and investors assess the 50 bps rate cut by Fed, as many think this aggressive rate cut must be due to some hidden economic risks. Overall, during Friday’s session, industrial and utility stocks fell the most. 

Let’s check how the top US indices performed during the week. 

Dow Jones

Dow Jones is currently trading near its record high level, looking for additional catalysts to break higher. The index traded flat on Friday, but on a weekly basis, it closed 1.62% higher.

S&P 500

S&P 500 index faced resistance as it failed to go past its record high levels. In Friday’s session, Fedex was the biggest loser of the index and was down by 14.12% on weak earnings report. While, the index lost 0.19% and on a weekly basis, it was up by 1.36%. 

Nasdaq

Nasdaq reacted to the mixed sentiments of investors and was down by 0.36% on Friday. Overall, despite the pullback, investors remain bullish in the short-to-medium. On a week-on-week basis, the index closed higher by 1.49%. 

The European equity market traded lower during the week, despite a major catalyst coming in from the US. Inflation and growth concerns are still hurting the European economy. Also hawkish commentary from ECB officials impacted investors’ sentiment. 

Let’s look, how different economies performed during the week. 

FTSE 100

The Bank of England (BoE) kept its key policy rate at 5.0%, which is on expected lines, as the central bank awaits more appropriate economic indicators to begin the rate-cutting cycle. 

On Friday, FTSE 100 traded lower and was down by 1.2%, wiping out the gains of the entire week. On a week-on-week basis, it was lower by 0.48%.

CAC 40

Utility and services sector stocks drove CAC 40, France’s primary stock market index, lower in Friday’s session, losing 1.54% at the end of the day. Weekly, the index closed flat. 

DAX

Losses in technology, transportation & logistics, pharmaceuticals, and healthcare stocks pulled the market lower on Friday. DAX, Germany’s primary stock market index lost 1.51% in Friday’s session, wiping out some weekly gains. On a week-on-week basis, DAX gave a positive closing of 0.69%. 

With hopes that FIIs will increase investment in emerging Asian economies following the Fed rate cut, most Asian indexes traded higher. Barring China, all other Asian economies traded with a positive bias. 

Let’s now have a look, how the major stock market index performed during the week. 

Nifty 50

The Nifty 50 had a volatile week, but it still managed to reach a new record high on Friday. Year to date, the index has gained nearly 19%.

On Friday, the index closed 1.48% higher, while the Nifty 50 rose 1.55% week on week.

Nikkei 225

The Japanese stock market rose over the week and Nikkei 225 closed the week 2.28% higher. On Friday, it was up by 1.51%. 

During the week, Japan’s central bank held the short-term interest rates steady at around 0.25%, which was widely expected. 

Straits Times

Singapore’s equity market was the top performing index of the week among global peers. Boosted by the Fed’s rate cut, Singapore’s primary stock market index, Straits Times rose 5.33% over the week. But, on Friday’s session the index traded slightly lower by 0.23%. 

Hang Seng

Boosted by the Fed rate cut, The Hong Kong stock market rose showcased a strong performance during the week. On Friday, the Hang Seng index added 1.34% and on a weekly basis, it registered a cumulative gain of 4.59%.

Taiwan Weighted

Following the global cues, Taiwan’s primary stock market index, Taiwan Weighted Index, put up a strong performance during the week. It was up by 0.53% at the close on Friday, and on a week-on-week basis, it was up by 5.06%. 

KOSPI

Tracking gains of the US market, South Korean shares traded higher on Friday. The country’s primary stock market index- KOSPI was up 0.48% higher, helping the index to wipe out the weekly loss. At the close of the week, it was up by 0.49%. 

SET Composite

Thai stocks traded flat in Friday’s session, and closed the day slightly lower by 0.22%. However, on a week-on-week basis, the index rose 6.31%, helping it to continue the strong bullish momentum for another week.

Jakarta Composite

Indonesian stock market index, Jakarta Composite traded lower on Friday, and was down by 2.1%. On a week-on-week basis, the index rose 0.91%

Shanghai Composite

Economic stress continued to impact the Chinese equity market during the week. August data highlighted China’s slowing economy. Industrial production increased 4.5% year on year, which was below expectations and falling short of July’s 5.1% increase due to lower commodity prices and auto sales. Retail sales rose by a less-than-expected 2.1% from a year ago, slowing from July’s 2.7% increase.

On Friday, Shanghai Composite traded flat and closed the week lower by 1.70%. 

Wrapping Up

The global stock market traded with a positive bias, but traders remain skeptical of the Fed’s larger-than-usual rate cut and are trying to figure out what it means. Looking ahead, we can expect some short-term market volatility. However, closely monitoring key economic data, central bank commentary, and global developments will provide valuable insight into near-term market direction. 

Following an initial knee-jerk reaction in the market due to rising recessionary fears in the world’s largest economy, the market gained some ground the following week. 

Both the US and European stock markets are trading with a positive bias, fueled by rising hopes of a Fed rate cut and tech stock gains. 

On Monday, the Eurozone released its trade statistics. The trade surplus decreased slightly from €21.7 billion in June to €21.2 billion in July. Compared to July 2023, exports increased 10.2% yearly, while imports increased 4.0%. While the trade surplus fell slightly in July, it was significantly higher than in July 2023, indicating a stronger demand environment.

The European Central Bank moved ahead with a second rate cut for 2024, slashing borrowing rates by 25 bps to 3.65%. The move comes amid rising inflation and slower growth projections. 

In the US, retail sales data released on Tuesday showed that inched higher by 0.1% in August, against the expectation of a 0.2% decrease. This is likely to give the market much-needed ammunition to keep its momentum strong. 

Top Gainers and Losers in the European Stock Market

Top Gainers

The following are the top gainers in the last one week. 

Source: Tradingview

Top Losers

The following are the top losers in the last one week across various sectors:

Source: TradingView

In the last week, Producer Manufacturing, Electronic Technology, Technology Services, Transportation, Communications, Retail Trade, and Non-Energy stocks supported the market higher, while consumer non-durables and health Technology pulled the index lower.

Let us also see how the indices fared during the week

STOXX Europe 600

As global markets remain upbeat, Europe’s largest stock market index, STOXX Europe 600 index, continued to move higher to record its highest closing level in two weeks. In the last 5 trading days, the index has moved higher by 1.75%. 

AD 4nXcfqOE85zrTlS KBKXcU0aVBLpEJOzjcJ3Gc8ZHXwClKm6WTx0XeFdEPhW4E4BiuMGQXnzo6 DRnGqcm0W7lm5XtnM4KOMdXmtPwdVizt7sf7NUuhvJYjEGKARx N5MJnJHD0apU9TXXALoPCSmVEvMFsLB?key=bof40DxTN6dcNfg jPM ww
Source: TradingView

The index is gaining momentum and has broken above the 20-day EMA slope, implying that the short-term trend remains positive. Currently, the index is facing strong resistance at around 520, and failure to break above this level could result in a sell-off or the index trading range-bound. If it breaks above 520, the next major resistance level is 525. 

FTSE 100

Economic headwinds in terms of stagnating growth due to contraction in manufacturing activity leading to mixed sentiments among investors. 

Following the global cues, the UK’s primary stock exchange, FTSE 100, traded with a positive bias, and in the last five trading sessions, the index has inched higher by 1.27%. 

AD 4nXcs7ni8HSEf7ZhnsXckq9PL3Cvvc8CZAjFK1b1lsaNDERiWUJOY6Ze0NI777cjmwdiyoOGJEOImqPjwfnJI4pRmEUk AUOR21KoeN36P8vOCkH279VZKAJlMYEKnTR6lYTetLfuk6nK64wfMMDlcCO54CQ?key=bof40DxTN6dcNfg jPM ww
Source: TradingView

On the daily chart, we can see that the index is trading between 8,300 and 8,200. The index is likely to look for a strong or clear trigger to gain momentum and break higher. If the index moves past the 8,360 level with strong momentum, it may approach the 8,500 level. However, momentum is the key, as weak momentum can lead to a sell-off in the market and a break-up below the 8,140 level. 

CAC 40

The overall momentum in the index has shifted bearish as traders become more cautious about the French economy following the Olympics, most likely due to political uncertainty, flat earnings, and luxury sector concerns.

The CAC 40 has gained slowly compared to its European counterpart, rising 0.92% in the last five trading sessions. 

AD 4nXe6USbQw07GIefjWsKPunonu5hjxKX5jWPmtD8VFD20KJe68aNYB hk4JeDzV ZUXvcxppFuZn0n0JgJ1DQryxIE7DjBIEAjiigKLROmd1Cskljqaqwh pIR7bcblQZZODVUULKIsnOZW SzC3oFfShmMRN?key=bof40DxTN6dcNfg jPM ww
Source: TradingView

Looking at the daily chart, the level around 7,500 has become extremely resistive, and the index lacks the momentum to break above it. If it fails to move above the 7,500 level, we might see the index testing the levels around 7,300 for support. 

DAX

Overall, sentiment in the German economy remains strong. Stocks rose after the close on Tuesday, driven by gains in the retail, technology, and chemical sectors.

Also, better than expected retail sales data in the US will likely push the index higher. Following the global cues, the German index DAX has been up 2.09% in the last five trading days. 

AD 4nXcbRuJ TLw3GJ02pnF3niqr9k rp7W GponuuGHcc0iLn6mdNQLrZ9W96QCXNUyLIQ4LvlS1TU3PazzqUgKOf9RRTQrSSMP3SVYpQY3V4AJTHT08XWxvtHY fSsxTOrexOKoD Z x6nbUS0FDEdpoduG zB?key=bof40DxTN6dcNfg jPM ww
Source: TradingView

The overall momentum of the market is strong, and it has broken above the 20-day EMA slope with strength. If the index continues to move higher and break above the much resistive 18,750 level, we may see it go past the 19,000 level. 

 Conversely, the index has strong support around the 18,500 level. 

Conclusion 

As we move forward, European stocks are likely to follow global cues. Closely tracking the US central bank’s rate cuts and its commentary on future rate cuts will help you determine the market’s near-term momentum. Keeping a close eye on all market developments is critical for making sound investment decisions in these rapidly changing market conditions. 

The global market staged a strong recovery after the previous week’s sell-off while the markets prepared for the first rate cut by the Fed. The increased probability of a 50 bps rate cut also drove the market higher this week.

In the European market, weakening economic growth prompted the European Central Bank to go for another rate cut this week, resulting in the market to trade higher during the week. 

Crude oil has gained some ground during the week, but overall momentum continues to be bearish. Brent Crude is currently trading slightly above the $70 level. 

On the other hand, Gold continued its ascent reaching a new record high level. In the last one week, it has gained close to 2.5%. 

Let’s take a look at how the major stock market indices did this week.

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones0.722.60
S&P 5000.544.02
Nasdaq0.655.95
European Markets
FTSE 1000.390.04
CAC 400.40-0.48
DAX0.970.58
Asian Markets
Nifty 50 -0.132.44
Nikkei 225-0.69-1.26
Straits Times0.173.52
Hang Seng0.74-0.51
Taiwan Weighted0.493.16
KOSPI0.13-0.21
SET Composite0.204.31
Jakarta Composite0.181.81
Shanghai Composite-0.48-2.88

Strong performance in the growth and technology stocks have lifted the market higher this week. The market is now awaiting a decision on the quantum of rate cut by the Fed. 

Speaking about economic indicators, the core inflation in August slightly rose to 0.3%, a tick higher than expectations. Meanwhile, the headline inflation has slowed down to 2.5% from 2.9% in July. It is the lowest level since early 2021. 

Let’s check how the top US indices performed during the week. 

Dow Jones

Ahead of the Fed meeting, the index traded with a positive bias. On Friday, Dow Jones was up by 0.72%, and on a week-on-week basis, the index posted a cumulative gain of 2.60%. Boeing was the biggest loser in the index and was down by 3.69% on Friday. 

S&P 500

The 500 stocks index gained ground on improved consumer sentiment and positive investors bias. On Friday, the index was up by 0.54%, taking the weekly gain to 4.02%. 

Nasdaq

Investors bought the dip in the market, and traded higher during the week. Nvidia, which was the top loser of the index last week, is up by around 13.5% this week. On Friday, Nasdaq climbed 0.65% and on a weekly basis, the index was up by 5.95%. 

The European Central Bank lowered interest rate for the second time this year, reducing it by 0.25% to 3.5%, which was in expected lines. Some economic indicators are signalling contraction in the Eurozone economy, and the ECB is likely to stay cautious and may look to lower borrowing costs in next few quarters

Now, let’s look at how the top three European indexes performed during the week.

FTSE 100

As growth paced slowed down for the second consecutive month in July, led by contraction in manufacturing activity leading to mixed investors sentiment. 

On Friday, FTSE 100 traded slightly higher by 0.39%, helping to close the week with no gain and loss. 

CAC 40

The CAC 40, France’s primary stock market index, closed in the green on Friday due to monetary easing. It increased by 0.40% but failed to finish the week in the green. On a weekly basis, the index fell by 0.48 percent. 

DAX

Gains in the retail, chemical, and technology sectors pulled the index higher. DAX was up by 0.92% on Friday, helping the index to post gains on a weekly basis. The index closed the week higher by 0.58%.

The Asian equity markets largely followed global trends as investors began to closely monitor developments related to rate cuts, which will provide short-term direction to the market. Domestic factors also played an important role. 

Let’s now have a look, how the major stock market index performed during the week. 

Nifty 50

Nifty 50 traded range bound during the week, but traded with a positive bias. On Friday, the market was volatile, but closed flat with a slight loss of 0.13%. On a week-on-week basis, the index was up by 2.44%. 

Nikkei 225

The Japanese stock market traded on a mixed note over the week as hawkish commentary from the Bank of Japan kept the market busy. On the economic front, the second quarter GDP number was revised lower, hurting investors sentiment.

Nikkei 225, the primary stock market index of Japan, traded lower on Friday and was down by 0.69%. On a week-on-week basis, it was down by 1.26%. 

Straits Times

Singapore’s equity market traded on a flat note this week. On Friday, the index was slightly up by 0.17% and on a weekly basis, it was up by 3.52%.

Hang Seng

The Hong Kong stock market rose on Friday on speculation of borrowing rate cuts in China. The Hang Seng index added 0.74% on Friday. But, on a weekly basis, it was down by 0.51%.

Taiwan Weighted

Strength in the semiconductor and electronic sectors helped the Taiwanese market to trade with a positive bias. Its primary stock market index, Taiwan Weighted Index, was up by 0.49% at the close on Friday, and on a week-on-week basis, it was up by 3.16%. 

KOSPI

After two weeks of consecutive sell off in the Korean market, the momentum of the market was sideways. On Friday, KOSPI was up by 0.13%, but on a week-on-week basis, the index was slightly down by 0.21%. 

SET Composite

For another week, Thailand’s equity market traded with a bullish momentum. SET Composite rose 0.20% on Friday, bringing its total gains for the week to 4.31%. 

Jakarta Composite

Indonesian stock market index, Jakarta Composite traded with a positive bias during the week. It was slightly up by 0.18% on Friday and on a week-on-week basis, it was up by 1.81%.

Shanghai Composite

Chinese stocks fell on weak inflation data, raising concerns about a downward price-wage spiral weighing on the economy. Deflationary concerns and failure to spur the economy is keeping Chinese equity under pressure. On Friday, Shanghai Composite was down by 0.48%, and on a week-on-week basis, the index lost 2.88% value. 

Wrapping Up

The global market has recovered some ground following the previous week’s sell-off. However, investors remain cautious about the rate cuts. Looking ahead, we can expect some short-term volatility in the market. However, closely following key economic data and global development will provide insight into near-term market direction. Staying informed and cautious may be necessary as the markets adjust to these ongoing shifts.

Fewer job openings and concerns of an economic slowdown battered the US stock market last week, resulting in the S&P 500’s worst weekly drop in 18 months. The Fed’s lack of clear timelines regarding rate cuts also affected investors’ sentiment. 

The oil market is currently experiencing a strong sell-off. Brent Crude is trading below $70, nearing a three-year low due to weak oil demand. However, there were a few gainers and losers in the market.

Top Gainers and Losers in the US Stock Market

Top Gainers

The following are the top gainers in the last one week. 

StocksLast 7 Days Gains (in %)
Oracle10.99
American Tower Corporation8.97
Tesla5.07
Verizon Corporation4.03
Mondelez International4.44
Source:Tradingview

Top Losers

The following are the top losers in the last one week across various sectors

StocksLast 7 Days Loss (in %)
ASML15.82
KLA Corporation11.44
Google8.08
Conocophillips7.06
Nvidia6.06
Source: TradingView

In the last week, weakness in the market was led by Electronic Technology, Technology Services, Producer Manufacturing, Energy Minerals, and Consumer Services. While Retail Trade, Consumer non-durables, Commercial Services, Utilities, and Health Technology. 

Due to falling crude oil prices, the S & P 500 Energy Index has dropped 4.57% in the last five trading sessions. 

Let’s check out how the major US stock market indexes stand out during the week. 

Nasdaq 100

After last week’s sell-off, Nasdaq gained ground as the rebound continued. Broadcom, the key hardware supplier for iPhone 16, has gained upside momentum and is up by more than 5% in the last 24 hours. 

Nvidia, a semiconductor chip manufacturer, is trading with a positive bias this week after falling nearly 14% the previous week. 

On Tuesday (September 10, 2024), the Nasdaq 100 continued to trade with a positive bias and slowly gained momentum. At the end of the day, it gained nearly 1%. 

s1 1
Source: Tradingview

S&P 500

S&P 500 stocks gained ground as traders and investors reacted to a strong sell-off in the oil markets. Lower energy prices may provide additional support to many struggling industries and boost the labor market. 

On Tuesday (September 10, 2024), the S&P 500 gained 0.45%, trying to go past the psychologically important 5,500 level. If the index manages to break above the 20 EMA slope, we may see additional buying in the market, which can propel the index toward its all-time high.

s2 1
Source: Tradingview

Conclusion

In the short term, markets will likely remain volatile, and future directions will depend on the Consumer Price Index and Producer Price Index reports. A lower-than-expected inflation number can boost growth sectors like technology and consumer discretionary, as lower inflation reinforces expectations of more than one Fed rate cut. However, if inflation exceeds expectations, the market may fall as chances of rate cuts diminish, and more aggressive monetary tightening may resurface.

The global market experienced a significant sell-off this week due to slowdown concerns and a bearish short-term outlook, which influenced investor sentiment. The US market fell the most in one week in 18 months. Meanwhile, the European market responded to the deteriorating global economic growth outlook. Furthermore, the weak corporate earnings reports and economic data from the world’s second largest economy are dragging down the global market.

Brent Crude has fallen to its lowest level in 14 months due to concerns about demand in the United States and China. It is currently trading near $70 and has dropped by nearly 7% in the past week. Gold continues to trade with a sideways bias.

Let’s take a look at how the major stock market indices did this week.

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones-1.01-2.93
S&P 500-1.73-4.25
Nasdaq-2.55-5.77
European Markets
FTSE 100-0.74-2.33
CAC 40-1.08-3.65
DAX-1.50-3.20
Asian Markets
Nifty 50 -1.17-1.79
Nikkei 225-0.73-5.84
Straits Times-0.120.34
Hang Seng-0.07-.2.34
Taiwan Weighted1.15-3.74
KOSPI-1.23-4.86
SET Composite1.645.05
Jakarta Composite0.530.67
Shanghai Composite-0.81-2.69

Negative events in the economy resulted in the US stock market entering a bearish state. Weak labor market, rout in tech stocks, and job cuts all affected the market. 

The country added 142,000 jobs in August, against expectations of 160,000 jobs. Also, July’s gain was revised down, which further complicated the economic growth revival picture. 

Let’s check how the top US indices performed during the week. 

Dow Jones

Amidst the broader pullback in the market, Dow Jones dropped by 1.01% on Friday, and for the entire week, the index reported a cumulative loss of 2.93%. 

S&P 500

S&P 500 retracted the most on the weekly basis in 18 months as fears of recession rising among investors. The index dropped by 1.73% on Friday, taking the weekly loss to 4.25%. 

Nasdaq

Sell of tech stocks and growth worries made the situation worse for Nasdaq. Nvidia, one of the most valuable tech companies in the world, has dropped by close to 14% in the last five trading sessions. On Friday, the index closed 2.55% lower and on a week-on-week basis, it dropped by 5.77%. 

Echoing the US market sentiments, European markets also traded with a bearish note during the week. Concerns of disinflation and structurally sluggish economic growth also give investors some worries.

Now, let’s look at how the top three European indexes performed during the week.

FTSE 100

Compared to European peers, and the US market, the UK stock market index, FTSE 100, fell significantly lower. On Friday, the index was down by 0.74% and on a week-on-week basis, it was down by 2.33%. 

CAC 40

Mixed economic data, and fears of slowdown in US economic growth soured investor sentiment. Paris bourse CAC 40 was down by 1.08% on Friday, taking the weekly cumulative loss to 3.65%. 

DAX

In July, German manufacturing orders increased by an unexpected 2.9%. However, industrial production in Germany fell much more than expected, by 2.4% sequentially, after rising 1.7% the previous month.

During the week, Germany’s primary stock market index, DAX, registered a total loss of 3.2%. In Friday’s session, it was down by 1.50%. 

Global factors combined with back to back weak economic indicators from world’s second largest economy resulted in the market to trade with a negative bias, with few exceptions around. 

Let’s now have a look, how the major stock market index performed during the week. 

Nifty 50

Historically, a weak month, the Indian market continued to be under corrective pressure. During the week, Nifty 50 went past 25,000 level, hitting a new all time high level. But, failed to maintain the positive momentum. On Friday, Nifty 50 was down by 1.17%, and on a week-on-week basis, it was down by nearly 1.8%. 

Nikkei 225

Weakness in semiconducor stocks and yen strength posing a challenge for Japan’s export-oriented companies kept the market under pressure. On Friday, Nikkei 225 was down by 0.73% and on a weekly basis, the total losses for the index was nearly 6%. 

Straits Times

Bucking the trend, Singapore’s equity market traded on a flat note this week. On Friday, the index was slightly down by 0.12% and on a weekly basis, it was up by 0.34%.

Hang Seng

The Hang Seng index was flat on Friday’s session and was slightly down by 0.07%. And, on a week-on-week basis, the index reported weekly cumulative loss of 2.34%. 

Taiwan Weighted

Taiwanese stocks were higher at the close of trade on Friday. Its primary stock market index, Taiwan Weighted Index, was up by 1.15% at the close on Friday, but on a week-on-week basis, it was down by 3.74%. 

KOSPI

The South Korean equity market index witnessed a second weekly loss due to the tech sell off. On Friday, the index was down by 1.23%, and for the total week, the losses increased to 4.86%. 

SET Composite

Thailand’s equity market stood out among global indices. The index rose 1.64% on Friday, bringing its total gains for the week to 5.05%. 

Jakarta Composite

Indonesian stock market index, Jakarta Composite traded mostly sideways during the week. It was up slightly by 0.53% on Friday and on a week-on-week basis, it was up by 0.67%.

Shanghai Composite

Weak housing sales data and weak corporate earnings reports, resulted in lowering buying sentiment among investors. During the week, Shanghai Composite fell by 2.69% and on Friday, it was down by 0.81%. 

Wrapping Up

In the face of a turbulent global market, the outlook remains uncertain as economic concerns weigh heavily on investor sentiment. While short-term volatility has affected major indices, long-term prospects will depend on how economies address these challenges. As we move forward, closely watching key economic data, corporate earnings, and global developments to navigate the current market landscape will be important. Staying informed and cautious could be essential as the markets adjust to these ongoing shifts.

Major global indices ended the week on a mixed note, as investors awaited additional data to interpret the market’s state and determine its future direction following the previous week’s strong rally. 

The reassuring growth and inflation data from the United States and Europe are comforting investors and raising expectations for future rate cuts. 

Crude Oil continued to experience pressure and traded below the psychologically important $80 level. Gold, on the other hand, continued its bullish momentum, climbing close to 5% during the week as investors weighed on the risk sentiment.  

Let’s look at how the major stock market indices did this week.

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones0.550.94
S&P 5001.010.24
Nasdaq1.13-0.92
European Markets
FTSE 100-0.040.59
CAC 40-0.130.71
DAX-0.031.47
Asian Markets
Nifty 50 0.331.28
Nikkei 2251.252.23
Straits Times1.121.62
Hang Seng1.132.14
Taiwan Weighted0.300.50
KOSPI0.45-1.01
SET Composite0.120.31
Jakarta Composite0.561.68
Shanghai Composite0.67-0.43

The week brought some relief and hopeful signs for the US market, with rising personal income and spending in July raising hopes for stronger-than-expected economic growth in the third quarter. 

The Commerce Department revised its annualized GDP estimates in the second quarter to 3% from 2.8%. Better economic indicators and cooling down inflation raised rate-cut hopes. 

Let’s check how the top US indices performed during the week. 

Dow Jones

Dow Jones traded flat this week despite a strong rally in one of its major components, Intel, which rose by nearly 9%. On Friday, the index rose 0.55%, and week on week, it increased by 0.94%.

S&P 500

The higher spending and consumption report on Thursday helped the S&P 500 index gain ground on Friday, and it is now trading near all-time highs. The index rose by 1.01%, with a 0.24% increase week over week. 

Nasdaq

The NASDAQ gained ground as demand for technology stocks increased. The index rose 1.13% on Friday but failed to close the week on a positive note. It fell by 0.92% week on week. 

Eurozone inflation is near its target. The eurozone’s headline annual inflation rate fell to 2.2% in August from 2.6% in July, the lowest level in three years but slightly above the ECB’s 2% target. But, policymakers are still cautious about lower interest rates.

Also, the eurozone’s economic sentiment indicator improved to 96.6 in August from 96 the previous month.

Let’s look at how the top three European indexes performed during the week.

FTSE 100

The UK’s economy continued its strong momentum, which was also reflected in its stock market. FTSE 100, the primary stock market index of the UK, traded on a flat note and was slightly down by 0.04. On a week-on-week basis, it was up by 0.59%. 

CAC 40

The S&P Global-compiled HCOB flash purchasing managers index for France’s services sector rose to a 27-month high of 55.0 in August, up from 50.1 in July and far exceeding expectations. The CAC 40, France’s primary stock market index, was down 0.13% on Friday, but it rose 0.71% for the week.

DAX

The contraction in second-quarter GDP has reignited investors’ recessionary fears. However, strength in the broader market led to strength in the German stock market index. On Friday, the DAX traded flat but was up 1.47% week on week.

This week, Asia’s major stock market indices traded with a positive bias following global cues. Additionally, domestic factors pushed the market higher.

Now, look at how the major stock market index performed during the week. 

Nifty 50

Strong momentum in the Indian market propelled the Nifty 50 to a new record high. On Friday, the Nifty 50 traded 0.33% higher, with the index closing 1.28% higher on a weekly basis.

Nikkei 225

Gains in Manufacturing and automobile stocks pushed Japan equities higher and added 1.25% to the Nasdaq index on Friday. On a weekly basis, the index closed 2.23% higher. 

Straits Times

Tracking broader market cues, Singapore’s equity market rose during the week. It was up 1.12% on Friday, and on a weekly basis, it was up 1.62%.

Hang Seng

The Hang Seng index rallied during the week on rising hopes of a US soft landing. On Friday, it was up by 1.13%, and on a week-on-week basis, it was up by 2.14%. 

Taiwan Weighted

Taiwanese stocks were higher at the close of trade on Friday. The Taiwan Weighted Index, the country’s primary stock market index, was slightly up by 0.30% at the close on Friday, and on a week-on-week basis, it was up by 0.50%. 

KOSPI

The South Korean equity market witnessed a mixed week, with a sell-off in tech stocks. Its primary stock market index, KOSPI, was up by 0.45% on Friday but ended the week lower by 1.01%. 

SET Composite

Thailand’s equity market witnessed less dramatic price changes during the week. The SET Composite was slightly up by 0.12% on Friday, and the index’s total gain was 0.31% on a week-on-week basis.

Jakarta Composite

The Indonesian stock market index, Jakarta Composite, traded mostly like its global peers. It was up by 0.56% on Friday and by 1.68% week-on-week.

Shanghai Composite

Chinese stocks fell after a series of corporate earnings reports missed expectations, lowering buying sentiment. While the Shanghai Composite was up by 0.67% on Friday, it ended the week down by 0.43%. 

Wrapping Up

As we look ahead, the global market conditions are mixed but cautiously optimistic following better-than-expected economic data this week. The contrasting performance of crude oil and gold indicates that investors balance optimism and caution. However, investors should remain watchful as the market may shift due to new economic data, policy decisions, or unexpected global events.

Reducing recessionary fears in the United States and positive commentary from central banks worldwide are boosting global markets, including Europe. Following initial jerks in August, European markets have returned to positive territory over the last month. 

The Paris Olympics boosted Eurozone economic activity in August after stalling in July. According to S&P Global’s purchasing manager index (PMI), the services sector output rose to a four-month high of 51.2 from 50.2. Meanwhile, manufacturing production continued to contract for the 17th month because of weak foreign demand. 

Also, the probability of the ECB cutting interest rates in September has strengthened as inflation continues to decline. Germany, regarded as the engine of the EU, recorded a GDP contraction in the second quarter of 2024, shrinking by -0.1% quarter-on-quarter from +0.2% from January to March. 

Top Gainers and Losers in the European Stock Market

Top Gainers

The following are the top gainers in the last one week. 

StocksLast 7 Days Gains (in %)
Delivery Hero SE11.15
BASF SE NA O.N.4.82
Vonovia SE4.77
Ferrari4.41
Universal Music Group4.32
Source: Tradingview

Top Losers

The following are the top losers in the last one week across various sectors:

StocksLast 7 Days Loss (in %)
ASML6.02
AEGON5.91
Salmar ASA5.41
Maersk4.33
BE Semiconductor Industries4.18
Source: TradingView

There was no clear trend in the market, which sector contributed to the market’s positive momentum. Essentially, Finance stocks led the gains in the market, followed by health technology, Consumer Durables, and Utilities. While Electronic Technology, Energy Minerals, and Technology Services stocks were mainly down.

Let’s check how the top European Indices performed. 

STOXX Europe 600

Europe’s largest stock market index, the STOXX Europe 600 index, representing almost 90% of the European market, traded positively over the week. As of 28 August, the index has traded higher by 1.26% over the last five days and is up by 1.39% over the month. 

AD 4nXe JRkT53ohP55W8X3Fgivdn4Oy3jdn8gQFSyTUKFqzIn6h7SXnbeeGdnSGyAtnZUd54AzHTyb5btsRAb JbNxi2zDlv6wJObZUwxC5DunAa9dpCnet5DaAsFhYkeXqKoBTWAJ3jd1hEEFs8xXLowzbq53l?key=bof40DxTN6dcNfg jPM ww
Source: TradingView

The index reversed all the losses it recorded in the first week because of the Yen Carry Trade sell-off. STOXX Europe 600 is currently experiencing resistance at around 520, but the upside momentum continues to be strong. A break above 525 would be highly positive for the index. 

FTSE 100

UK Purchasing managers’ data for August showed that private sector output continued to grow steadily, aided by stronger new orders. The S&P Global Composite Purchasing Managers’ Index for August was 53.4, up from 52.8 in July, the highest since April.

AD 4nXdMpp5e14pjkaCO2QtEMPhmW4lusjXy0jQosn4mvA1nE5ABM2d3 azypfNG Zv aWPoAXGJW2s UJtfMQ2Ul yz5MCvaPl nmkAJBNyw4zGRwg4BbM5vXvcpli5NbMmgH7925lNX5NmxKlZRzjlKjGa2 r?key=bof40DxTN6dcNfg jPM ww
Source: TradingView

As of 28 August 2024, the FTSE 100 is trading with a positive bias. It has been slightly down by 0.14% in the last five days. 

The index is trading range-bound and experiencing strong resistance at around 8,350. Failure to break above this level may lower the market; however, the 50-day Moving Average slope will likely provide strong support. The index must break above the 8,450 level with strong momentum to continue moving higher. 

CAC 40

The S&P Global-compiled HCOB flash purchasing managers index for France’s services sector rose to a 27-month high of 55.0 in August, up from 50.1 in July and far exceeding expectations. As of 28 August 2024, CAC 40, France’s primary stock market index, has increased by 1.05% over the last five days.

AD 4nXeUkrijoFrQqrpDxFT yUN 9O1CC20PzacTEP0YMdpnp 479RTtXCINPuJ LrgZkS9tuwh580D3FJFov7ksh6tUO8cvbZpfHfiGSB0cnpVj1SOEQu2KbJIAdgkR8p4OI8C377SLy8Vgj iOC j7RlgB5QQ?key=bof40DxTN6dcNfg jPM ww
Source: TradingView

Looking at the daily chart, CAC 40 has broken above the psychologically important 50-day moving average slope, indicating bullish momentum in the short term. The 7,730 level above is the index’s next major zone. 

DAX

The contraction in the second quarter GDP number has again raised recessionary fears driven by reduced household consumption and investment. Exports of goods and services fell 0.2% from the first quarter of 2024, reflecting lower global demand and supply chain disruptions.

Following the global cues, the German index DAX has been up by 1.76% in the last five trading days. 

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Source: TradingView

The market’s overall momentum is strong. It is trading close to one of its major resistance levels, 18,700. A break above would be highly positive for the market. Conversely, the index is likely to test for support before continuing to increase. 

The global stock market gained ground on Powell’s dovish comment in the annual Jackson Hole economic conference. Fed Chair Jerome Powell categorically indicated that time has come for the Federal Reserve to start adjusting interest rates anytime in the near future, while inflation risk is subsiding. Positive economic signs from the Eurozone area supported the market.

Gold continued its bullish momentum climbing 5.16% due to risk aversion sentiment. While crude oil continued to trade weak. 

Let’s take a look at how the major stock market indices did this week.

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones1.141.27
S&P 5001.151.45
Nasdaq1.471.40
European Markets
FTSE 1000.480.20
CAC 400.701.71
DAX0.751.70
Asian Markets
Nifty 50 0.040.97
Nikkei 2250.400.79
Straits Times0.431.05
Hang Seng-0.161.04
Taiwan Weighted0.04-0.86
KOSPI-0.220.17
SET Composite1.023.98
Jakarta Composite0.741.51
Shanghai Composite0.20-0.87

Signals of easing monetary policy boosted the stock market indices towards new high levels driven by tech sector gains and positive sentiment surrounding the improving economic indicators. Let’s see how the top US indices performed during the week. 

Dow Jones

Dow Jones closed on a high note for the second consecutive week driven by a broad rally in the equity markets. On Friday, Dow Jones was up by 1.14%, taking the weekly gains to 1.27%. 

S&P 500

Dovish Fed Chair comment and strong new home sales report for July sent the 500 stock index higher. On Friday, the index gained 1.15% and on a week-on-week basis, it was up by 1.45%. 

Nasdaq

Tech stocks played a significant role in the market gains on Friday. Tech-heavy Nasdaq traded higher and was up by 1.47% on Friday. On a week-on-week basis, the index gained 1.40%. 

The European market had a solid week of trading because of improving economic indicators, encouraging central bank commentary and improved mood in the US market.

Let’s look at how the top three European indexes performed during the week.

FTSE 100

The UK continued to be the bright spot among major European countries. Its Purchasing Managing Index (PMI) accelerated to 53.4 in August, up from 52.8 in last month, indicating strong growth momentum in the economy. 

FTSE 100 traded with a positive bias during the week and was up by 0.48% on Friday. On a weekly basis, the index concluded the week with gains of 0.20%. 

CAC 40

The French economy benefited from the Olympics in Paris. August saw a notable improvement in services activity, offsetting the continued decline in manufacturing. The S&P Global-compiled HCOB flash PMI increased from 50.1 in July to a 27-month high of 55 in August. 

CAC 40 was up by 0.70% on Friday, and on a weekly basis, it was up by 1.71%. 

DAX

The German economy continues to be weak due to its sluggish recovery and poor international demand for exports, continuing to affect investor sentiment. 

However, strength in the broader market helped to push the German stock market index higher. On Friday, DAX traded higher and closed 0.75% higher and on a week-on-week basis, it gained 1.70% higher.

Supportive economic data and bullish investor sentiment helped the Asian stock market indices to trade with a positive bias during the week. However, domestic factors were also in play limiting the upside compared to the US and UK indices. 

Let’s now have a look, how the major stock market index performed during the week. 

Nifty 50

It was a volatile week for the Indian market, and Nifty 50 traded mostly flat on Friday and was slightly up by 0.04%. On a week on week basis, the index was up by 0.97%. 

Nikkei 225

The Japanese stock market recovered during the course of the week, posting slight gains, after the initial shock at the beginning of the month following the second rate hike. 

On Friday, Nikkei 225 was up by 0.40% and it closed 0.79% higher at the close of the week. 

Straits Times

Following the broader market cues, Singapore’s equity market traded higher during the week. It rose 0.43% on Friday, and on a weekly basis, it was up by 1.05% higher.

Hang Seng

Stocks in Hong Kong stock market traded lower as the light economic calendar and cautious outlook ahead of Fed Chair Powell’s Jackson Hole speech kept buyers on the sidelines. On Friday, Hang Seng fell by 0.16%, but on a week-on-week basis, the index rose 1.04%. 

Taiwan Weighted

Taiwanese stock market index, Taiwan Weighted Index was down 0.86% over the week despite trading with a positive bias on Friday, when it closed marginally higher at 0.04%. 

KOSPI

Profit booking and cautious outlook ahead of the Powell’s Jackson Hole conference kept the market anxious. The South Korean stock market index, KOSPI, was down by 0.22%% on Friday, but closed the week 0.17% higher. 

SET Composite

Bucking the overall trend, Thailand’s equity market index traded on a bullish note during the week. SET Composite was up by 1.02% on Friday, and on a week-on-week basis, the total gain of the index was 3.98%.

Jakarta Composite

Following the global cues, Indonesian stock market index, Jakarta Composite was up by 0.74% on Friday and on a week-on-week basis, it was up by 1.51%.

Shanghai Composite

Persisent slowdown in the economy in the world’s second largest economy continues to impact investor sentiment. Benchmark index Shanghai Composite Index gained 0.2% on Friday, and on a week-on-week basis, it fell by 0.87%. 

Wrapping Up

Looking ahead, the current environment presents both opportunities and challenges. The Fed’s dovish stance and improving economic indicators in the Eurozone suggest potential for continued gains in equity markets. However, risk aversion, reflected in gold’s bullish momentum, and uncertainty in crude oil prices indicate that volatility could persist. Investors should remain cautious, keeping a close watch on central bank policies and global economic trends.

Since the massive crash at the beginning of the month caused by the Yen Carry Trade selloff, the US market has recovered and reversed all of its losses. Federal Reserve Chair Jerome Powell’s positive commentary, an increase in retail sales, and a cooling of inflation supported the market.

Traders are now waiting for Jerome Powell’s comment at the Jackson Hole event on Friday. He is likely to provide the Federal Reserve’s long-term roadmap to support growth. 

Top Gainers and Losers in the US Stock Market

Top Gainers

The following are the top gainers in the last one week. 

StocksLast 7 Days Gains (in %)
Nvidia 13.17
Tesla11.40
Nike11.04
AVGO9.50
Netflix9.39
Source: Tradingview

Top Losers in the US Stock Market

The following are the top losers in the last one week across various sectors:

StocksLast 7 Days Loss (in %)
Valero Energy Corporation5.83
Diamondback Energy4.54
Dominos Pizza4.25
Exxon Mobil3.12
Insulet Corporation3.46
Source: TradingView

Technology Services, Electronic Technology, Retail Trade, Consumer Durables, and Producer Manufacturers supported the market higher last week due to improved investor sentiment. 

On the other hand, energy stocks continue to experience a sharp drop in prices due to increased crude oil prices. In the last week, Brent Crude has been down by nearly 5% and is trading around the $77 level.

How did the US stock market indexes perform during the week?

Nasdaq 100

Stocks in Nasdaq gained ground last week as traders built up their bullish positions on tech stocks. Nvidia and Tesla are leading the charge and were the top gainers in the index last week. 

On Tuesday (20th August 2024), the Nasdaq 100 continued to trade with a positive bias and looked for momentum. It traded flat, with a slight loss of 0.24% at the end of the day. In the last five trading sessions, the index has been up by 3.55%. 

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Source: Tradingview

Looking at the daily chart, the index’s overall momentum appears to be positive. The index has broken above the 50-day Moving Average, and the slope is also rising, indicating strong buying. However, the 20,000 level is expected to provide strong resistance. Below, 19,200 and 18,900 are two important support levels. 

S&P 500

Last week, energy stocks were among the worst performers in the SP500 index as traders reacted to the drop in crude oil prices. Healthcare and consumer defensive stocks continue to gain upside momentum, supporting the market’s higher levels. 

On Tuesday (20th August 2024), the S&P 500 ended the day flat and down marginally by 0.20%. The index was up by 2.84% in the last five trading sessions. 

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Source: Tradingview

The index maintained positive momentum yesterday and is attempting to stay above the 5600 level, which has turned resistive. It must break above its all-time high of around 5,665 to move higher. The index will find strong support at around the 5,450 level.

Conclusion:

In the coming weeks, the Federal Reserve’s action and commentary on rate hikes, inflation management, and how it intends to spur growth in the world’s largest economy will influence the market’s dynamics. Political uncertainty will also play a role as the presidential election date approaches. To navigate the current market uncertainty, investors should exercise caution by focusing on diversified portfolios and defensive stocks.

The global stock market recovered during the week as fears of recession in the US subsided with positive news on inflation and economic growth. On the other hand, the European market found strength on the back of increasing hopes of rate cuts and improved economic sentiment. The Asian market followed the global cues, with the Nikkei 225 index leading the charge of top gainers. 

Gold climbed 4.68% during the week, reaching a new high level, while crude oil continued to trade weak. 

How the major stock market indices did this week

IndexPrevious Day Change (%)WoW Change (%)
US Markets
Dow Jones0.242.94
S&P 5000.203.93
Nasdaq0.215.29
European Markets
FTSE 100-0.431.75
CAC 400.352.48
DAX0.763.38
Asian Markets
Nifty 50 1.650.62
Nikkei 2253.518.67
Straits Times1.113.63
Hang Seng1.841.99
Taiwan Weighted2.034.10
KOSPI1.954.20
SET Composite1.010.46
Jakarta Composite0.302.41
Shanghai Composite0.070.60

World Stock Market Index: US Markets

US stock market indices rebounded sharply during the week, marking the best week since November 2023. Positive commentary from the Fed on rate hikes and an uptick in retail sales in July helped the market reverse the August 5th sell-off loss. 

Let’s see how the world’s most tracked indexes performed.

Dow Jones

The 30-component index closed the week positively, supported by gains from industrial giants like Boeing, Cisco, and others. On Friday, Dow Jones gained 0.24%, and on a weekly basis, the index was up by 2.94%. 

S&P 500

Improved consumer sentiment in July helped the S&P 500 index gain higher during the week. The market ignored the weak housing sector report, which indicated new housing activity has retreated to early pandemic levels.  On Friday, the S&P 500 index was marginally higher by 0.20%, but it posted strong gains of 3.93% on a week-on-week. 

Nasdaq

The rally in tech stocks led to solid gains in Nasdaq, with Nvidia leading the charge. On Friday, Nvidia posted the best weekly gains of 18%, after posting four consecutive weeks of less. Year-to-date, the stock has gained 149%.  On Friday, the Nasdaq traded flatly, recording a slight gain of 0.21%. On a week-on-week basis, the index gained 5.29%. 

World Stock Market Index: European Markets

Improved sentiment in the US market, dovish central bank commentary, and improving economic indicators helped the European market to trade positively during the week. 

Let’s look at how the top three European indexes performed during the week. 

FTSE 100

In July, headline inflation in the UK rose to 2.2% from 2.0% in June. However, growth in service prices slowed more than expected, which increased hopes for a higher likelihood of interest rate cuts later this year. 

On the other hand, GDP expanded 0.6% sequentially during the April to June quarter, putting the economy on a strong footing. 

On Friday, the FTSE 100 was slightly down by 0.43%. On a weekly basis, the index concluded the week with gains of 1.75%. 

CAC 40

France grew at 0.3% this quarter, the same rate as the previous quarter. Although the country may see an economic boost from the Olympics in the third quarter of this year. On Friday, the country’s primary stock market index, CAC 40, gained 0.35%, taking the total weekly gain to 2.48%. 

DAX

Germany, the eurozone’s largest economy, experienced a surprise contraction of 0.1% in the second quarter of 2024, against the expected 0.5% increase. This compares to a 0.2% increase in the previous first.

However, the market shrugged off the weak GDP growth data, and DAX rose by 0.76% on Friday. On a weekly note, the index gained 3.38%. 

Reversing the trend, Japan led the gains in the Asian market. Better-than-expected economic data from the United States boosted sentiment, easing fears of a recession in the world’s biggest economy.

Let’s look at how the primary stock market index performed during the week. 

Nifty 50

It was a volatile week for the Indian market as major indices sought triggers. On Friday, the Nifty 50 traded on a positive note and gained 1.65%, helping it to wipe the weekly loss and gain 0.62% at the close of the week. 

Nikkei 225

Japan’s second-quarter GDP growth beat expectations by expanding 0.8% from the previous week, thus improving overall market sentiment. On Friday, Nikkei 225 gained 3.51%, taking the total weekly gains to 8.67%. 

Straits Times

Following global cues, Singapore’s primary stock market index traded higher. It rose 1.11% on Friday and fell 3.63% week on week.

Hang Seng

Tracking the gains of the US and European markets, the Hang Seng index gained during the week. On Friday, the index was up by 1.84%, and on a week-on-week basis, it was up by 1.99%.

Taiwan Weighted

Supported by improved sentiment in the US market and a rally in tech stocks, Taiwanese equity traded positively. On Friday, the index traded higher, going up by 2.03%, and on a week-on-week basis, it was up by 4.10%

KOSPI

The South Korean market posted its best week in seven months, as its primary stock market index, KOSPI, rose 1.95% on Friday, taking its weekly gains to 4.20%. 

SET Composite

Thailand’s equity market index, SET Composite, traded higher on Friday by 1.01%, wiping out the weekly loss and closing the week with a total gain of 0.46%.

Jakarta Composite

Jakarta Composite was up by 0.30% on Friday and 2.41% week-on-week.

Shanghai Composite

Mixed economic indicators kept the Chinese market volatile. Industrial production increased by a lower-than-expected 5.1% in July compared to a year earlier, slowing from a 5.3% increase in June, owing to lower auto sales. Retail sales increased by a better-than-expected 2.7% in July compared to a year earlier, up from 2% in June. 

Over the week, Shanghai Composite traded on a bearish note. On Friday, it was slightly up by 0.07%, but on a week-on-week basis, it was up by 0.60%. 

Wrapping Up

With economic sentiment improving across regions, the markets could continue to show resilience. However, with mixed indicators and ongoing uncertainties, investors should remain cautious and closely monitor upcoming data and central bank decisions.

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An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.

An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.

An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.

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