{"id":40076,"date":"2024-07-07T11:53:19","date_gmt":"2024-07-07T06:23:19","guid":{"rendered":"https:\/\/www.equentis.com\/blog\/?p=40076"},"modified":"2024-07-07T11:54:56","modified_gmt":"2024-07-07T06:24:56","slug":"global-stock-market-index-7th-july-2024-weekly-recap","status":"publish","type":"post","link":"https:\/\/www.equentis.com\/blog\/global-stock-market-index-7th-july-2024-weekly-recap\/","title":{"rendered":"Global Stock Market Index: 7th July 2024 Weekly Recap"},"content":{"rendered":"
<\/div>\n

<\/p>\n\n\n\n

The global<\/a> stock market<\/a> traded with a positive bias this week, with all major indices closing higher. Encouraging economic indicators from the United States and around the world helped the market continue to rise despite emerging political uncertainty in the US and Europe.<\/p>\n\n\n\n

One concerning development is the rise in crude oil prices, which has the potential to derail inflation-fighting measures. Brent Crude is up by 2% this week and is close to the $87 mark.\u00a0And gold is up by 2.63% during the week.\u00a0<\/p>\n\n\n\n

Let’s take a look at how the major stock market indices did this week<\/h2>\n\n\n\n
Index<\/strong><\/td>Previous Day Change (%)<\/strong><\/td>WoW Change (%)<\/strong><\/td><\/tr>
US Markets<\/strong><\/td><\/tr>
Dow Jones<\/td>0.17<\/td>0.66<\/td><\/tr>
S&P 500<\/td>0.54<\/td>1.95<\/td><\/tr>
Nasdaq<\/a><\/td>0.90<\/td>3.50<\/td><\/tr>
European Markets<\/strong><\/td><\/tr>
FTSE 100<\/td>-0.46<\/td>0.30<\/td><\/tr>
CAC 40<\/td>-0.26<\/td>1.92<\/td><\/tr>
DAX<\/td>0.14<\/td>1.45<\/td><\/tr>
Asian Markets<\/strong><\/td><\/tr>
Nifty<\/a> 50 <\/td>0.09<\/td>1.17<\/td><\/tr>
Nikkei 225<\/td>0.00<\/td>3.99<\/td><\/tr>
Straits Times<\/td>-0.85<\/td>2.02<\/td><\/tr>
Hang Seng<\/td>-1.28<\/td>0.47<\/td><\/tr>
Taiwan Weighted<\/td>0.14<\/td>2.84<\/td><\/tr>
KOSPI<\/td>1.30<\/td>2.81<\/td><\/tr>
SET Composite<\/td>0.83<\/td>0.19<\/td><\/tr>
Jakarta Composite<\/td>0.45<\/td>2.69<\/td><\/tr>
Shanghai Composite<\/td>-0.26<\/td>-0.59<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

US Markets<\/h2>\n\n\n\n

<\/p>\n\n\n\n

Traders reacted positively to the better-than-expected non-farm payroll data, which increased their bet on a less hawkish Fed and a possible one-rate cut during 2024. The strength in AI and tech stocks provided support to the market.\u00a0<\/p>\n\n\n\n

Let’s see how the world’s most tracked indexes performed. <\/p>\n\n\n\n

Dow Jones<\/h3>\n\n\n\n

The Dow Jones Industrial Average Index failed to move higher despite the strong momentum and traded in a range-bound fashion. It was mostly flat during Friday’s session and was slightly up by 0.17%. On a week-on-week basis, it was up by 0.66%.<\/p>\n\n\n\n

S&P 500<\/h3>\n\n\n\n

The S&P 500 index finally managed to break above the psychologically important 5500 level. In Friday\u2019s session, the index was up by 0.54%, concluding the week with a cumulative gain of 1.95%.\u00a0<\/p>\n\n\n\n

Nasdaq<\/h3>\n\n\n\n

The week after profit booking in AI and tech stocks, bulls returned to the market, taking the Nasdaq to historic highs. On Friday, the index was up by 0.90%, and on a week-on-week basis, it gained 3.5%.\u00a0<\/p>\n\n\n\n

European Markets<\/h2>\n\n\n\n

<\/p>\n\n\n\n

Political uncertainty eased in France, and the UK Labor Party won the general election with a large majority, helping to cool investors’ nerves and boost confidence.\u00a0 On the other hand, despite the rate cut in June, the European Central Bank<\/a> continued to be slightly hawkish as uncertainties regarding future inflation<\/a>, productivity, and profits remain.\u00a0<\/p>\n\n\n\n

Let\u2019s look at how the top three European indexes performed during the week. <\/p>\n\n\n\n

FTSE 100<\/h3>\n\n\n\n

The UK stock market was largely volatile during Friday’s session because of the election result announcement and the shift of power to the Labor Party. The FTSE 100 was down 0.46% but concluded the week with a cumulative gain of 0.30%.\u00a0<\/p>\n\n\n\n

CAC 40<\/h3>\n\n\n\n

French stocks rose this week, snapping a weeks-long losing streak. In Friday’s session, the index was slightly down by 0.26% and on a week-on-week basis, the CAC 40 closed nearly 1.92% higher. <\/p>\n\n\n\n

DAX<\/h3>\n\n\n\n

The German economy continues to struggle as manufacturing and industrial activity declines. On Friday, the DAX traded flat, rising 0.14%. On a weekly basis, the index rose by 1.45%, mostly in line with all major exchanges.\u00a0 <\/p>\n\n\n\n

Asian Markets<\/h2>\n\n\n\n

<\/p>\n\n\n\n

Taking cues from the US and European markets, most Asian indexes traded on a positive note during the week. Domestic factors also influenced the market. Let’s take a closer look at how the various Asian indices performed over the week.\u00a0<\/p>\n\n\n\n

Nifty 50<\/h3>\n\n\n\n

Led by gains in heavyweight stocks due to heavy FII buying, the Nifty 50<\/a> hit an all-time high on Friday, surpassing the 24,300 level. The market was quite volatile on Friday, but it managed to close with a slight gain of 0.09%. On a weekly basis, the Nifty 50 rose by 1.17%.<\/p>\n\n\n\n

Nikkei 225<\/h3>\n\n\n\n

Continuing the previous week\u2019s positive momentum, Nikkei 225 continued its upside momentum during the week. Despite the flat close on Friday, the index concluded the week 3.99% higher. <\/p>\n\n\n\n

Straits Times<\/h3>\n\n\n\n

Singapore’s primary stock market index<\/a> traded on a positive note throughout the week. Although it was down by 0.85% on Friday, it was up by nearly 2% week-on-week to close the week on a higher note.\u00a0<\/p>\n\n\n\n

Hang Seng<\/h3>\n\n\n\n

After China reported underwhelming manufacturing data, which raised concerns surrounding the economy’s slowing down, the Hang Seng index fell significantly in Friday\u2019s session, losing 1.28%. On a week-on-week basis, the index was up by 0.47%.<\/p>\n\n\n\n

Taiwan Weighted<\/h3>\n\n\n\n

Taiwan Weighted once again displayed strong momentum during the week, helping it to retain the title of the best-performing index in the world in 2024 for another week.\u00a0In Friday’s session, the index was up by 0.14%, concluding the week with a cumulative gain of 2.81%.<\/p>\n\n\n\n

KOSPI<\/h3>\n\n\n\n

KOSPI continued to soar for the fifth consecutive week. On Friday, the index gained 1.30% and registered a weekly gain of 2.81%.<\/p>\n\n\n\n

SET Composite<\/h3>\n\n\n\n

Thailand’s equity shares closed up 0.83% on Friday, helping to offset the week’s loss. On a week-on-week basis, the index rose by 0.19%.<\/p>\n\n\n\n

Jakarta Composite<\/h3>\n\n\n\n

The Indonesian stock market rose throughout the week, reaching a 0.45% high on Friday. The index rose by 2.69% weekly.<\/p>\n\n\n\n

Shanghai Composite<\/h3>\n\n\n\n

The Shanghai Composite Index registered a modest loss for the week. The country\u2019s manufacturing activity contracted for the second consecutive month in June. The Shanghai Composite index was down by 0.26% on Friday and 0.59% on a week-on-week basis.<\/p>\n\n\n\n

Wrapping Up<\/h2>\n\n\n\n

As the global stock<\/a> markets close the week on a high note, investors remain cautiously optimistic about the future. The encouraging economic indicators from the United States and around the world suggest that markets will continue to rise, though political uncertainty in the United States and Europe may cause some volatility.<\/p>\n\n\n\n

It will be critical to closely monitor economic and political developments and sector-specific performance to effectively navigate the changing market dynamics.<\/p>\n\n\n\n

*Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI<\/a>, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

The global stock market traded with a positive bias this week, with all major indices closing higher. Encouraging economic indicators […]<\/p>\n","protected":false},"author":5,"featured_media":40080,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1563,9],"tags":[],"class_list":["post-40076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing-global","category-investing"],"_links":{"self":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/40076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/comments?post=40076"}],"version-history":[{"count":0,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/40076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media\/40080"}],"wp:attachment":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media?parent=40076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/categories?post=40076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/tags?post=40076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}