Archives of “Global Indices” category

rss

US stocks suffer worst day since 2008

  
Analysis, Global Indices
#  #  #  #  #  #  #  #  #

Closing levels for the main US indexes

Closing levels for the main US indexes
US stocks fell to fresh session lows of 8% late in the day but staged a small bounce late in the day to finish at slightly better levels.
Nonetheless, it was the worst day for US stock markets since 2008 and possibly the worst day ever for oil stocks.
Here is the damage:
  • S&P 500 -7.6% — a 226 point decline to 2746
  • DJIA a 7.8% decline or -2015 points to 23,849
  • Nasdaq -625 points to 7950 — a 7.3% decline
  • Toronto TSX -9.3%
These headlines all sound terrible and this was the worst day for US stocks since December 2008 but when you consider that we’re only back to the June lows, it doesn’t seem that bad. A fall to the 2018 lows would be a decline of 31%.

European major indices end their nightmare of a day

  
Analysis, Global Indices
#  #  #  #  #  #  #  #

Major indices down over 7%

The European stock markets are now close for the day and the nightmare is over.  The major indices all closed over 7% lower.   For the year the declines are near the -20% level. Ouch.
The provisional closes for the major indices are showing:
  • German DAX, -7.4%
  • France’s CAC, -7.9%
  • UK’s FTSE 100, -7.3%
  • Spain’s Ibex, -8.1%
  • Italy’s FTSE MIB, -11.1%
For the trading year, the provisional changes are showing
  • German DAX, -19.8%
  • France’s CAC, -20.67%
  • UK’s FTSE 100, -20.3%
  • Spain’s Ibex, -18.9%
  • Italy’s FTSE MIB, -20.3%
In other markets as London/European traders look to exit:
  • spot gold is down $6.20 or -0.37% at $1667
  • WTI crude oil futures are down $8 or -19.43% at $33.26
In the US stock market:
  • S&P index is down -169 points or -5.7% the 2802
  • NASDAQ index is down -425 points or 4.98% at 8148
  • Dow is down -1600 points or -6.2% at 24263
In the US debt market yields remain sharply lower.
Major indices down over 7%_

Nikkei 225 closes lower by 2.72% at 20,749.75

  
Analysis, Global Indices

The Nikkei ends the week at a six-month low

Nikkei 06-03

It has been a choppy week for Japanese stocks but at the end of the day, global central bank stimulus isn’t looking to be enough to lift the mood among Asian investors.

Chinese stocks are once again the ones outperforming the rest of the region, despite also trading lower today. The Shanghai Composite is down by just 0.8% relative to the heavier losses elsewhere – the Hang Seng is even down by 2.3% currently.
The risk mood as we look towards European trading continues to err on the side of risk aversion with US futures also falling by over 1% and Treasury yields continuing to sink to record lows – 10-year yields now at 0.820% and 30-year yields at 1.425%.
As such, this is keeping USD/JPY weaker on the day at 105.85 currently while gold is shining brightly and looks set for its biggest weekly gain since 2016.

European shares hold onto gains but off the highest levels

  
Analysis, Global Indices

Major indices climb in Europe

The good news for the European stock markets today is that they closed higher on the day the bad news is that the close well off session highs. The oversized afternoon gains yesterday in the US gave the indices a boost at the outset, but those gains were eroded through the day. The closing levels are showing:
  • German DAX, +1.08% vs a high intraday percentage gain of 3.5%
  • France’s CAC, +1.12% versus a high intraday percentage gain of 3.3%
  • UK’s FTSE 100, +0.95% versus a high intraday percentage gain of 2.88%
  • Spain’s Ibex, +0.80% versus an high intraday percentage gain of 3.12%
  • Italy’s FTSE MIB, +0.43% versus a high intraday percentage gain of 3.16% him

Nikkei 225 closes lower by 1.22% at 21,082.73

  
Analysis, Global Indices

The early enthusiasm in the market fizzles out on report that G7 communique may not live up to the hype

Nikkei 03-03

Japanese stocks are closing at the lows for the day with early gains in the equities space also being pared as we look towards European trading. The Hang Seng is up by just 0.2% now with the Shanghai Composite up by 0.6% currently, way off earlier highs.

The fact that investors are also not keen on the liquidity injection by the BOJ is also something to be mindful about in the coming days.
US futures have also seen early gains ease, with E-minis down by ~0.2% at the moment.
As such, the yen leads gains in the currencies space with USD/JPY down to 107.70 now and the franc is also inching higher with USD/CHF falling to 0.9575 currently.

European equities start to see gains erode

  
Analysis, Global Indices
#  #  #  #  #

DAX turns negative, Stoxx 600 turns flat on the day

Germany DAX

Trouble in paradise? Both were up by a little over 2% to start the European morning but we are seeing the market turn tail and run with USD/CHF slipping back close to 0.9600.
US futures have also seen gains from the early European morning peter out, with E-minis just up by ~0.5% currently. USD/JPY is also back lower now to 107.75 after having hit a high of 108.58 just two hours ago.
The market is still holding out hope for global central bank stimulus, but as highlighted here, it may not necessarily be the solution to dig investors out of the hole.

It was an awful week for European stocks. Here’s a look at the damage

  
Analysis, Global Indices

Closing changes for the main European bourses:

Closing changes for the main European bourses:
  • UK FTSE 100 -3.2%
  • German DAX -3.9%
  • French CAC -3.4%
  • Italy MIB -3.6%
  • Spain IBEX -2.9%
On the week:
  • UK FTSE 100 -11.1%
  • German DAX -12.4%
  • French CAC -11.9%
  • Italy MIB -11.3%
  • Spain IBEX -11.8%
  • Stoxx 600 -12.2%
It was the worst week for most indexes since 2011 or since 2008. It’s interesting to note that despite being the centre of the storm in Europe, Italy’s market outperformed. In FX, the temptation is going to be to sell the currency of wherever the next outbreak is, but the market is increasingly looking at it as a global event, rather than a localized one.

The good news is that the European stock markets are closed

  
Analysis, Global Indices
#  #  #  #  #  #  #  #  #

German DAX, -3.1%. France’s CAC down -3.8%

The good news for the European stock markets is that they are close for the day.  Each of the major indices had sharp declines. Sometimes closing feels good. The provisional closes are showing:
  • German DAX, -3.1%
  • France’s CAC, -3.2%
  • UK’s FTSE 100, -3.5%
  • Spain’s Ibex, -3.8%
  • Italy’s FTSE MIB, -2.6%
To give an idea of the year to date performance of the major indices :
  • Germany, -6.65%
  • France, -7.6%
  • UK FTSE 100, -9.7%
  • Spain’s Ibex, -5.6%
  • Italy’s FTSE MIB, -2.8%
Comparing to the US market year-to-date:
  • Dow industrial average, -7.6%
  • S&P index, -5.63%
  • NASDAQ index -2.42%
In Asia the year-to-date’s are showing:
  • Japan’s Nikkei, -7.22%
  • Hong Kong’s Hang Seng index, -5.01%
  • Australia S&P/ASX 200 -0.39%
  • China’s Shanghai index -1.93%

In other markets as London/European traders look to exit:

  • gold is trading up $12.80 or 0.78% at $1653.72
  • WTI crude oil futures are trading down $-2.08 or -4.25% of $46.66
In the US stock market the snapshot of the major indices currently shows:
  • S&P index -69.3 points or -2.22% of 3047.44
  • NASDAQ index -221.2 points or -2.46% at 8759.96
  • Dow -578 points or at -2.17% at 26371
In the US debt market yields are sharply lower with the 2 year down -8.9 basis points. The 10 year is down -5.8 basis points.. The 2 – 10 yield spread has widened to 20.42 basis points from 17.24 basis points yesterday on increasing expectations that the FOMC will be forced to lower rates
US yields are lower across the board with a letter yield curve
In the European debt market, yields are mixed with German, France, and UK yields lower while Spain, Italy, Portugal yields are higher (flight to safety and out of the riskier countries):
European yields are mixed
In the forex market, the EUR is the strongest (and got stronger in the session).  Germany did say earlier today that they would contemplate more fiscal stimulus and technicals improved. The EURUSD did run into resistance against the 1.100 level however.
The weakest currency is the CAD as oil continues to get hammered. The GBP and USD are also weaker on the day:
Go to top