The debt ceiling crisis disrupted us markets

 

AMERICAN MARKETS THURSDAY CLOSING

Major US stocks started the week lower as investors reacted to the rise of the 10-year Treasury yields to nearly a three-year high. Also, markets have been drown by tech shares sell off. On Tuesday, markets extended their losses due to the debt ceiling crisis, where the Democrats were attempting to raise the federal debt limit while Republican wants to leave it unchanged. Wednesday session closed mixed as lawmakers prepared to vote on legislation to suspend the national debt ceiling. Meanwhile, Fed Chair Jerome Powell stated that the asset purchasing taper is « getting close. » Thursday trading day saw a red day as uncertainty on the debt ceiling continues, while, Congress did manage to pass a continuing resolution to fund the government until December 3.

AMERICAN MARKETS
NASDAQ 10015 097.150.31%
DOW JONES35 210.030.85%
S&P 5004 465.380.61%
RUSSELL 20002 288.880.65%
S&P/TSX20 932.860.54%
S&P MERVAL81 117.291.22%
IBRX BRAZIL48 843.431.11%
IPC MEXICO52 375.720.45%

 

EUROPEAN MARKETS MIDDAY

This Friday at midday European major stocks were down on concerns that rising inflation will prompt central banks to withdraw stimulus just as growth slows. Also, the DAX dropped over 1.5% this morning after German retail sales datat for August failed to meet market expectations. Nevertheless, Eurepoan markets began the week higher as European Central Bank President Christine Lagarde delivered a speech to the European Parliament committee noting that the recent rise in inflation is « largely temporary », adding that the bank won’t be raaising rates before 2023. Meanwhile, the Deutsche Bundesbank declared that Germany’s inflation will reach it’s higher rate between 4 and 5% by the end of the year. Tuesday was a red day following the United States sell-off prompted by rising US bond yields while Christine Lagarde stated that COVID-19 crisis could impact inflationary trends in the « year to come ». Wednesday session closed higher after  the consumer confidence in September improved by 1.3 points in the euro area (EA19) compared to August while the Economic Sentiment Indicator (ESI) remained broadly stable in the euro area. Thursday session has been driven by the statement of the British Chief Secretary to the Treasury saying that it is impossible to predicted how many people in the UK will lose their jobs after the government’s job retention scheme ends.

EUROPEAN MARKETS
CAC 406 727.520.63%
FTSE 1007 234.030.37%
DAX15 587.360.81%
SMI11 961.340.58%
AEX800.411.21%
IBEX 358 997.000.81%
FTSE MIB26 489.180.81%
EURO STOXX 504 182.910.82%
OMX NORDIC 402 369.881.04%

 

ASIAN PACIFIC MARKETS CLOSING

Asia-Pacific region markets closed lower this Friday, with the NIKKEI 225 falling 2.31% after the latest data showed that Japan’s manufacturing sector growth decelerate in September. Also, North Korea tested another missile which brings uncertainty into the region. Monday traded mixed in Asia as investors braced for the fallout of the potential collapse of China Evergrande Group after reports indicated that Chinese officials started to take control of some of the company’s sales revenue in order to keep projects afloat. Tuesday traded mixed as Japan declared that it didn’t expect a surge in demand following the lifting of the pandemic measures, the NIKKEI 225 lost 0.29% that day while both Shangai Composite and Hang Seng traded higher. Thursday was the only day of the week where the region traded with gains even if Japa’s retail sales and industrial activit, as well as China’s manufacturing activity came in below market expectations.

ASIAN PACIFIC MARKETS
NIKKEI 22529 068.631.81%
KOSPI3 015.060.88%
HANG SENG25 330.961.48%
CSI 3004 932.110.38%
SSE COMPOSITE INDEX3 572.370.40%
NIFTY 5018 338.550.97%
S&P/ASX 2007 362.000.69%
FTSE STRAITS TIMES INDEX3 173.910.29%
VN INDEX1 392.700.06%

 

COMMODITIES & FOREX MARKETS

  • The Joint Technical Committee (JTC) of OPEC members and non-OPEC oil producers believe that demand for oil products for heating and power generation could increase as a result of the ongoing gas crisis in Europe, Energy Intelligence’s chief OPEC correspondent Amena Bakr reported on Wednesday.
  • Natural gas futures soared 60% over the last month and climbed over 240% since the start of the year amid supply issues.

COMMODITIES
OIL BRENT84.340.38%
OIL WTI81.800.60%
NATURAL GAS5.476-3.82%
GOLD1 768.35-1.64%
PALLADIUM2 075.50-3.51%
SILVER23.378-0.42%
WHEAT736.601.60%
COTTON106.67-0.40%
CORN526.881.91%

 

CHANGES & CRYPTOS
EUR/CAD1.43710.22%
EUR/USD1.1592-0.02%
EUR/GBP0.8426-0.60%
EUR/RUB82.31-0.52%
EUR/CHF1.07130.07%
BTC/USD60 709.126.23%
ETH/USD3 818.350.41%

 

New deaths attributed to Covid-19 in European Union, US, Brazil, UK, Malaysia and Sri Lanka (Financial Times)

CAC 40PERFORMANCES
WORST PERFORMANCESTOP PERFORMANCES
Sanofi -0.34%Renault3.49%
Louis Vuitton -0.36%EssilorLuxottica2.49%
Pernod Ricard -0.48%Credit Agricole 2.07%
Danone -1.00%BNP Paribas 1.98%
Eurofins Scientific-1.47%Safran1.81%

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