indices
S&P 500 is slated to open in green today after the U.S. Bureau of Labour Statistics said inflation was up in line with expectations in April. S&P 500 could hit $5,400 level in 2024Versus a year ago, the consumer price index (CPI) stood at 3.4% last month versus at 3.5% in March. The inflation data today may create more room for the U.S. Federal Reserve to begin cutting rates that is broadly expected to serve as a tailwind for the benchmark index. In fact, Sam Stovall of CFRA Research expects the S&P 500 to end this year at around the 5,415 level. On CNBC’s “Squawk Box”, he said last week: What...
Invezz
The Hang Seng index has staged a strong recovery this year as investors bought the dip in Chinese equities. It has moved into a bull market as it jumped by over 28% from its lowest level this year. It is also hovering near its highest swing since August 2023. China equities bottomedHang Seng is not the only Chinese index that is in a strong bull market. China A50 has soared by over 18% from its lowest swing this year. The same is true with other popular indices like the Shanghai and Shenzhen composites. This performance is happening as signs emerge that the property market and the Chinese econ...
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The Nikkei 225 index remained is stuck in a range as traders focus on the depreciating yen and the ongoing Japanese earnings season. The index was trading at ¥38,350 on Tuesday, where it has been stuck in the past few days. This price is almost 7% below its highest level this year. Japan bank earnings aheadThe Nikkei 225 index has been in the spotlight as key Japanese companies release their earnings. Softbank, one of its biggest constituent published its financial results on Monday, reporting its first Vision Fund profits in years. The other top Japanese companies that have published their ea...
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The FTSE 100 index continued its remarkable bull run this week as investors reflected on the Bank of England (BoE) interest rate decision and after the strong UK GDP numbers. It surged to a record high of £8,440, making it one of the best-performing European indices. Next week will be an important one for the Footsie as many big companies are set to publish their financial results that will provide more colour on their operations. Most firms that have already published their numbers have pointed to robust revenue and profitability growth. The most notable were firms like Lloyds, HSBC, and Barc...
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The iShares Russell 2000 ETF (IWM) has continued to underperform its bigger rivals like the SPDR S&P 500 ETF (SPY) and the Invesco QQQ (QQQ) ETFs. It has risen by just 2.2% this year while the other two have soared by over 5%. This is a trend that has been going on for a long time as mega-cap companies like Apple, Amazon, Nvidia, and Alphabet have continued soaring. The Russell 2000 index is mostly made up of smaller companies with thinner balance sheets and profitability. IWM vs SPY vs QQQ ETFs Best-performing Russell 2000 ETF stocksStill, the index has had some of the best-performing compani...
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S&P 500 is in the red at writing after the Federal Reserve left its benchmark overnight borrowing rate unchanged again. Why did FOMC not cut interest rates today?Note that the U.S. central bank has kept interest rates in the range of 5.25% and 5.50% – the highest level in more than two decades since July of 2023. The FOMC statement attributed today’s decision to a “lack of further progress” in bringing inflation back to the 2.0% target. Rates cuts remain unlikely until members of the federal open market committee have “greater confidence that inflation is moving sustainably toward 2 percent”, ...
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The IBEX 35 index plunged hard on Tuesday led by Spanish banks like BBVA, Santander, and Caixabank. It crashed by more than 2.2%, its worst daily performance since March last year. It has now dropped by over 3.35% from its highest level this year. Puig IPO aheadSpanish banks suffered a harsh reversal even after major developments in the country. BBVA, the second-biggest bank after Santander, approached Banco Sabadell for a deal that would create a financial behemoth. If the deal goes on, it will be the biggest European bank merger in years. The merger would also likely spur more consolidation ...
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