In the midst of a volatile day, the stock markets They experience a series of ups and downs. The latest batch of business results raised concerns among investors about the economic outlook.
Even the tech giant AlphabetGoogle matrix, surprised with figures below expectationswhich adds to the concern generated by the interest rates constantly increasing.
Overnight, Asian stocks managed to recover from their lowest levels in almost a year. This positive investor reaction is partly due to China’s approval of a 1 trillion yuan sovereign bond issue. (around $137 billion), which is interpreted as an indication of future economic stimuli. Additionally, the Australian dollar advances after inflation data exceeds expectations, generating new expectations of interest rate increases.
In Europe, the STOXX 600 index trades with a slight increasedespite the pressure exerted by the drastic drop of almost 60% in the shares of the French payments company Worldline, which reduces its payment targets, affecting rival companies such as Nexi and CAB Payments.
The day is marked due to an intense presentation of banking results, with Deutsche Bank being the exception, registering a 7% increase in its shares.
MSCI world equity index remains stable, but is on track to close its third consecutive month of decline in October, with an accumulated loss of 1.9%. This is largely due to rising US Treasury yields.
Bond markets maintain a rebound after the 10-year debt yield surpassed 5% at the start of the week, trading around 4.857% in the last quote.
Markets: uncertainty takes over the main squares
Even though large-cap tech companies have been a hit on the equity market in 2023, Alphabet stock experiences a 6% drop in previous operations to the opening of markets, due to a slowdown in its cloud business. Meanwhile, Microsoft gains almost 4%.
Nasdaq 100 futures they lose 0.5%, and the S&P e-mini falls 0.3%.
IG Group’s Chris Beauchamp comments: “Tech sector earnings get off to a mixed start tonight, thanks to the focus on cloud computing, one of the great sources of income in the sector. Stocks have risen somewhat in the last 24 hours“But now it’s up to Meta tonight and Amazon tomorrow to provide the kind of good news that could give the stock a reason to rally at the end of the month.”
In the field of currencies, the euro distances itself from the improvement in German business confidence and subtracts 0.1%, trading at 1.0576 dollars. The yen remains around 149.92 units per dollar, while the Australian dollar is approaching two-week highs, trading near 0.64 dollars.
In terms of commodities, oil futures are gaining around 0.25%, while spot gold is trading at $1,975 per ounce, after reaching $1,997 last week.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
