-
Indexes on Wall Street ended the day slightly up. The US500 gained 0.20% to 5530 points, and the US100 increased by 0.45%, returning above 20000 points.
-
Today, investors were not convinced about any direction. At the opening of the cash session, we observed gains that were later reduced after the publication of ISM reports. During the day, the US100 even lost 0.50% for a moment.
-
Indexes in Europe are having a relatively positive session. The biggest gains are seen in indexes from France (FRA40), Italy (ITA40), and Austria (AUT20). On the other hand, losses can be observed in the Wig20 index (W20) in Poland and the FTSE 100 (UK100) in the United Kingdom.
-
The FRA40 is rebounding today but largely reducing gains and almost closing the entire gap created at the opening. Earlier, the contract tested the recent local peaks at the level of 7735 points.
-
The banking sector led the gains observed today on European stock exchanges. French banks, in particular, are performing well, rebounding after the parliamentary elections on Sunday.
-
As expected, the elections were won by the National Rally led by Marine Le Pen, which received just over 33% of the vote with a turnout of almost 67%. The "Center" of current President Emmanuel Macron received 21% of the votes, slightly better than expected. Despite the far-right likely taking control of the government for the first time in recent years, it will not be a solo government.
-
The ISM report for US manufacturing came in worse than expected. Weakness in the economy, plus lower price data and a return of the employment sub-index below 50 points. EURUSD rebounded sharply on the reading, but the move was largely neutralised. The ISM reading is in line with the trend of readings from Asia and Europe.
- ISM Manufacturing Prices: actual 52.1; forecast 55.8; previous 57.0;
- ISM Manufacturing PMI: actual 48.5; forecast 49.2; previous 48.7;
- ISM Manufacturing New Orders Index: actual 49.3; forecast 49.0; previous 45.4;
- ISM Manufacturing Employment: actual 49.3; forecast 50.0; previous 51.1;
-
German CPI came below expectations at actual 2.2% YoY; forecast 2.3% YoY; previous 2.4% YoY. Reaction to the data was limited, even though the readings were slightly below expectations. CPI data from individual German regions were already known in the morning, allowing investors to better estimate the final publications.
-
Tesla (TSLA.US) shares are up 7.00% today, reaching $210, the highest among all stocks in the SP500. This marks the fifth consecutive session of gains, making it one of the best periods in the past year. The main catalyst for the increase was bullish vehicle delivery reports from Chinese competitors.
-
The cryptocurrency market is trading up today, with Bitcoin and Ethereum gaining close to 2.70% and 2,20% respectively. A weaker ISM reading from US manufacturing did not put much pressure on the US dollar, and it's back on the rise after an initial slide. Data shows that ETFs resumed buying Bitcoin last Friday; recording the first major net inflows in a dozen sessions. Cryptocurrency halted declines at $60,000 level and now bulls are sending Bitcoin prices higher, to $63,500 resistance zone.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
