After the deterioration of sentiment on Monday, the leading European and American stock indexes also rose on Tuesday, of the latter the Dow Jones rose by 1.1 percent and the S&P 500 rose by 1.7 percent.
The price of oil is falling
The price of oil fell to levels last seen in mid-December last year on Tuesday, after investors began pricing in the possibility of another financial crisis, causing demand for oil to fall. The price of Brent crude oil fell by 4.2 percent today.
There is now a moderate rebound in the American stock markets, after the stock markets were hit hard yesterday. The Dow Jones is up 0.7 percent, the S&P 500 is up 1.2 percent.
Today, the German and French stock markets closed close to their daily peak, 1.8-1.9 percent higher. In the good mood, the share prices of companies in all sectors rose, the papers of the financial sector performed the best, Deutsche Bank’s share price rose by 4.3 percent today.
Meta’s stock is on the rise
The mood is especially good on the overseas stock exchanges, among the leading stock exchanges, the tech-focused Nasdaq is doing the most for now, the index is now up 2.4 percent.
Among the companies listed on the stock exchange, Meta is performing exceptionally well, the stock of Facebook’s parent company is up 5.9 percent. Investors can be so happy about the cost optimization news that the company is laying off another 10,000 workers.
Masterplast is falling
The price of Masterplast fell significantly today, the shares dropped by 6.5 percent and fell below HUF 3,000.
The construction materials company is not doing well this year on the Hungarian stock market, the exchange rate has been down 22 percent since the beginning of the year, deeply underperforming the BUX index. The weakness of the construction industry does not favor the company, in January the company published a profit warning and closed the fourth quarter with a loss.
Development of Masterplast’s exchange rate
Today’s turnover in Masterplast shares is lower than average.
The mood on the stock markets in Europe is getting better and better
The uncertain and direction-seeking mood of the morning was replaced by the rise on the continent’s stock markets, among the leading stock indexes, the German DAX is up 1.8 percent, the French CAC is up 1.9 percent, but the Hungarian stock market is also up more than one percent. .
The recently published February consumer price index data from the United States can improve the mood: in line with analysts’ expectations, the increase in prices was 6 percent compared to the same period of the previous year, although several unfavorable signs pointed to the opposite: in Europe, the annual price did not decrease significantly in February either. inflation, and the employment data published on Friday also revealed a strong American economy, i.e. a strong expected demand.
The atmosphere in America is excellent
After the opening, the Nasdaq is up 2 percent, the S&P 500 is up 1.5 percent, and the Dow is up 1 percent.
evolution of the baha us 500 exchange rate
Can investors breathe a sigh of relief?
After the events of the previous days, the day may start with a positive correction: according to the current state of the future stock indices, the S&P 500 and the Nasdaq may both open by 1 percent, and the Dow by 0.9 percent.
Bitcoin continues to soar!
Bitcoin continues to soar, the flagship of cryptocurrencies has already broken through the psychologically important $25,000 exchange rate level, which is also the highest value since February 21.
Bitcoin exchange rate evolution
No big surprise
At 1:30 p.m. Hungarian time, the latest February consumer price index data from the United States were published, as expected, the increase in prices was 6 percent compared to the same period of the previous year, as well as the expected 0.4 percent increase compared to January. .
There is no major exchange rate reaction yet, but the dollar continues to weaken against the euro.
Development of the EUR/USD exchange rate
As for future interest rate hikes by the Fed, market participants currently see a 79 percent chance of a 25 basis point interest rate hike, and after the events of the past few days, there is a 21 percent chance that the key rate will not change.
There is a lot of thrashing, the Hungarian stock market has turned upside down
Uncertainty is still significant on the stock exchanges, somewhat detached from the halved European movements, the mood on the Hungarian stock exchange is getting worse, the BUX index is already down 0.7 percent. Among the domestic blue chips, Mol is the main drag on the stock market, the oil company’s share price is down 2.2 percent, but the trading volume is not outstanding for the time being.
Calm in the markets
After yesterday’s panic-like sell-off, for the time being it seems that the moods on the stock exchanges have calmed down, among the leading stock indices, the DAX is up 0.2 percent, the CAC meanwhile has risen by 0.1 percent, and the FTSE 100 is down 0.1 percent. there is, and the Milan and Spanish stock markets are slightly higher in the first minutes of trading.
We are looking forward to an exciting day
What are the current events on the stock exchanges?
- The leading American stock indexes closed mixed yesterday, the Dow Jones was down 0.3 percent, the S&P 500 fell 0.2 percent, while the Nasdaq finished the day up 0.8 percent.
- Asian stock markets fell this morning, with the Nikkei down 3.32 percent, the Hang Seng down 2.28 percent, and the CSI 300 down 0.92 percent.
- The day can start with a search for direction on the European stock market, based on the current state of the futures stock indices, the DAX may open with an increase of 0.09 percent, the CAC may rise by 0.12 percent, while the FTSE may fall by 0.28 percent.
- The American stock futures indexes are forecast to rise at the market opening, the Dow Jones may rise by 0.18 percent, the S&P 500 may rise by 0.24 percent, while the Nasdaq may rise by 0.27 percent.
What can be expected on the macro front?
Today, life also starts in terms of economic data communication, for example, the American inflation data already mentioned in the introduction arrives, which can overshadow the market movements after the labor market data, but can also strengthen it. This day will be important, because the European finance ministers can decide on the new budget and industrial development rules. The construction industry and industrial data are coming home, and we are getting to know the balance sheet figures of the MNB.
|March 13 – March 19, 2023. Macro calendar|
|March||14.||Tuesday||8:30 a.m||MNB||Statistical scale||Feb.|
|March||14.||Tuesday||8:30 a.m||KSH||Building industry||Jan.|
|March||14.||Tuesday||8:30 a.m||KSH||Industry (second estimate)||Jan.|
|March||14.||Tuesday||11:30 a.m||AKK||3-month dkj auction|
|March||16.||Thursday||8:30 a.m||MNB||Payment board set||Q4|
|March||17.||Friday||8:30 a.m||MNB||Balance of payments||Jan.|
|March||17.||Friday||8:30 a.m||MNB||International reserves||Feb.|
|March||14.||Tuesday||8:00 a.m||EU||Ecofin seat|
|March||15.||Wednesday||3:00 a.m||China||Retail trade||Feb.|
|March||15.||Wednesday||1:30 p.m||USA||Retail trade||Feb.|
|March||16.||Thursday||1:30 p.m||USA||Residential building permits||Feb.|
|March||16.||Thursday||2:15 p.m||EU||ECB interest rate decision|
|March||16.||Thursday||2:45 p.m||EU||Christina Lagarde’s press conference|
|March||17.||Friday||11:00 a.m||EU||Inflation (revised)||Feb.|
|Source: Portfolio collection|
What has happened on the stock markets so far?
- Among the leading American, Asian, European and regional stock indices this year, the PX index is at the top with a 12.0 percent shift, while the BUX index is the driving force with a 4.6 percent drop.
- Among domestic blue chips, Magyar Telekom’s share performed best this year with a 14.5 percent increase, while Richter’s paper is at the bottom of the list with an 11.4 percent fall.
- Among the most important raw materials, the price of Gold has risen by 4.9 percent since the beginning of the year.
|More important instruments|
|Exchange rate||One day||1 week||1 month||This year||1 year||5 years|
|US stock indices|
|Asian stock indices|
|European stock indices|
|Regional stock indices|
|Hungarian blue chips|
|10-year US Treasury yield||3.55||-3.8%||-10.9%||-4.9%||-7.5%||76.7%||24.5%|
|10-year German government bond yield||2.27||-9.1%||-16.8%||-2.9%||-11.4%||874.7%||269.9%|
|10-year Hungarian government bond yield||8.61||-2.7%||-2.8%||4.1%||-6.9%||44.5%||213.1%|
|Source: Refinitiv, Portfolio|
Cover image source: derek berwin