Daily Digest: Monday 21st October
Europe
The FTSE continued lower as London listed equity sell offs resumed following the weekend. The FTSE 100 (FTSE) fell 40.01 points (0.48%) to 8,318.28, despite the absence of any major economic catalysts during the session. The Pan European STOXX 600 (STOXX) also headed lower, falling 521.52 points (0.66%) to 521.52.
USA
US equity performances were mixed through Monday, Nvidia stole the headlines as prices closed at new record highs of 143.71 after rallying 4.14% during trading. On an index level, the Nasdaq 100 ($NDX) was the only of the majors to close higher, rising 37.43 points (0.18%) to 20,361.47. Meanwhile, the S&P 500 ($SPX) fell 10.69 points (0.18%) to 5,853.98, while the Dow ($INDU) saw sharper declines of 344.31 points (0.80%) to 42,931.60.
Rest of the World
Following a stronger end to last week, Japanese equities experienced a slight reversal in momentum through Monday. The Nikkei 225 (¥N225), the nation’s benchmark index fell 27.15 points (0.070%) to 38,954.60, pushing the index to just over 1,046 points off the psychologically significant 40,000 level. In terms of technical analysis, on a one session chart, the Nikkei’s RSI remains above 50 indicating that market sentiment is weakly positive. However, the MACD has crossed below its signal line, suggesting stronger selling presence in the short term. The picture remains the same for Chinese equities, though momentum appears to be slowing as prices continue to trend higher. The Shanghai Composite (¥SSE) extended Friday’s gains, rising a further 6.55 points (0.20%) to 3,268.11.
What to Watch Tomorrow
BOE Governor Andrew Bailey’s remarks at Bloomberg’s Global Regulatory Forum
ECB President Lagarde’s remarks at an IMF event in Washington
US Earnings:
GE Aerospace ($GE)
Verizon ($VZ)
Lockheed Martin ($LMT)
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