📆 Monday, October 21
► European markets are trading slightly lower with the Stoxx 600 trading at -0.15%. Investors are balancing concerns about Germany’s struggling manufacturing sector with optimism from better-than-expected corporate earnings reports. Additionally, DNB Bank announced its acquisition of Carnegie Holding for $1.1 billion, marking another significant consolidation in the Nordic banking sector. Sanofi has also entered into talks to sell its Consumer Health division, adding to the mixed sentiment on the European markets. Lower energy prices (at the beginning of the week, due to increasing tensions in the Middle East, some of the previous week's losses recovered with +1.7% current -WTI) continue to support the European economy, which is dependent on energy imports. SAP, the most valuable German company, will announce its results today.
► U.S. stock futures are slightly lower after a record-setting week driven by Netflix's post-earnings rally, which helped the S&P 500 hit an all-time high. Both S&P 500 and Nasdaq 100 are trading a bit lower in early Monday pre-market trading (-0.2%). Positive earnings from major banks also lifted the Dow to a record close. This week, investors focus on Tesla and Boeing's earnings on Wednesday, with Tesla facing scrutiny after its robotaxi event and concerns over vehicle sales, while Boeing will address production delays and labor disputes. Apple's strong iPhone 16 sales in China have further fueled optimism about potential growth in the region.
► Asian markets saw mixed performances as China’s CSI 300 climbed after the People’s Bank of China cut key lending rates to stimulate economic growth. Japan’s Nikkei fell to a two-week low, reflecting political uncertainty ahead of the general election. South Korea’s KOSPI rebounded after a losing streak, while Hong Kong's Hang Seng dropped due to losses in financial and consumer sectors.
Subscribe to see more
