📆 Tuesday, April 30
► Markets in Europe declined slightly today, with the Stoxx 600 index dropping 0.3%. This was due to major car manufacturers such as Volkswagen, Mercedes-Benz, and Stellantis facing downturns due to poor earnings reports. In contrast, HSBC saw a rise exceeding 2% despite a dip in profits and the unexpected exit of its CEO. Positive economic data, however, provided a silver lining, with Germany reporting a slight 0.2% GDP growth for Q1 2024, better than the expected 0.1%, and France, Italy and Spain also exceeding GDP growth expectations. This complex mix reflects a cautious optimism tempered by sector-specific challenges.
► In the United States, market sentiment was restrained with S&P 500 futures showing little change as investors brace for the Federal Reserve's upcoming policy decision. Despite a general uptrend in earnings, with over 80% of companies beating expectations, the broader market remains wary of prolonged high interest rates. The anticipation surrounding the Fed press conference with Jerome Powell, Chairman of the Federal Reserve, is keeping the market on tenterhooks and could have an impact on future interest rate adjustments. Earnings season also continues, as Amazon's earnings figures will be published later today. AMD will also be closely watched.
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