Daily Digest: Monday 11th November
Equities
European markets appeared to settle on Monday following last weeks barrage of political and economic changes. The UK’s FTSE 100 (FTSE) rallied 52.80 points (0.65%) to 8,125.19, as the index looks to erase last week’s losses. Across Europe, equities also trended higher as the Pan European STOXX 600 (STOXX) rose 5.74 points (1.13%) to 512.37. Asian markets also moved higher as the Nikkei 225 (¥N225) rose 32.95 points (0.083%) to 39,533.32, and the Shanghai Composite (¥SSE) rose 17.77 points (0.51%) to 3,470.07. The so called ‘Trump trade’, observing bullish moves across both equities and cryptocurrencies has continued to play out. Both the S&P 500 and the Dow broke new highs at their respective intraday peaks, the S&P 500 ($SPX) closed above the 6,000 level for the first time, rising 5.81 points (0.097%) to 6,001.35, while the Dow ($INDU) rose 304.14 points (0.69%) to 44,293.13. The Nasdaq 100 ($NDX) was the only major index to fall as prices dropped 10.59 points (0.050%) to 21,106.59.
One of the largest moves of the day occurred outside of traditional asset markets as Bitcoin, the world’s largest cryptocurrency, rallied just over $8,000 to new highs around $88,000 within the last 24 hours. This momentum comes after President Trump’s re-election, with the Republican party offering a new and more accommodative stance on the industry.
What to Watch Tomorrow
US Earnings
Home Depot ($HD)
Astrazeneca PLC ($AZN)
Shopify ($SHOP)
Spotify ($SPOT)
Sources:
https://uk.finance.yahoo.com/world-indices/
https://uk.finance.yahoo.com/commodities
https://www.londonstockexchange.com/indices/ftse-100
https://www.binance.com/en-GB/price/bitcoin
https://www.binance.com/en-GB/price/ethereum
https://qontigo.com/index/sxxp/
Stock Market Activity Today & Latest Stock Market Trends | Nasdaq
https://coinmarketcap.com/charts/#market-cap
https://www.forexfactory.com
Definitions:
YoY - Year on Year, or, Year over Year
MoM - Month on Month, or, Month over Month
QoQ - Quarter on Quarter, or, Quarter over Quarter
ECB - European Central Bank
BOJ - Bank of Japan
Fed - Federal Reserve
BOE - Bank of England
SNB - Swiss National Bank
DOJ - Department of Justice