Strong opening in New York – Apple’s value 3,3 trillion dollars

Stocks opened clearly up in the early trading at Wall Street on Wednesday. Dow Jones was up 0,64% to 38996 points, S&P 500 index was up 1,29% to 5444 points and Nasdaq index was up 1,87% to 17.669 points.

Apple was up 3,82% at 215 dollars after its AI announcements on Monday and the company reached new valuations high at 3,3 trillion dollars.  Nvidia was up and its market value was 3,11 trillion dollars and Microsoft’s the same, 3,11 trillion dollars.

The markets were also optimistic about the inflation data that was published today. The May consumer price index was 3,3% in May.

The Federal Reserve’s FOMC meeting is ending today and the rate decision, which is estimated to be unchanged, will be published with economic projections as well.

In Europe markets were also up after the EU elections surprises. Dax index was trading up 1,29%, FTSE 100 index up 1,04% and CAC40 index up 0,93%.

Wall Street closed down for the week – rate meetings ahead

Stocks closed down at Wall Street last week. Dow Jones closed down 0,98%  for the week to 38.688,32 points, S&P 500 index closed down 0,51% to 5277,51 points and Nasdaq down 1,09% to 16.735,02 points.

The world focus last week was the US ex-president Donald Trump’s trial in so called ” hush-money” case. Mr Trump was convicted in the cases. The impact on the ongoing presidential campaign will be seen. Trump is leading in all the six states according to the WSJ. The new president will be elected in November.

The coming central bank meetings with monetary policy decisions during this June time will be closely followed as markets globally have sqeezed their number of rate cuts during this year and for example Fed’s number of  rate cuts have fallen to 1-2 from six in the beginning of this year.

The European Central Bank (ECB) is having its meeting next week on Thursday and the US Federal Reserve’s meeting is on 11-12 -June.

The eurozone inflation increased in May to 2,6% and core inflation to 2,9%. The markets are still waiting the first rate cut to happen next week in the euroarea.

The EU elections are on the June 9th and the recent trend in Europe has been the rise in the right-wing parties.

The UK elections are in July and the biggest contest is between the current PM Rishi Sunak’s Conservatives and the Labour party. The Bank of England is having its monetary policy meeting on June 20th, before the elections. The Governor of the BOE Andrew Bailey has mentioned several times that the UK is to cut rates before the US.

The US credit markets are having intensive times as about one trillion dollars worth of credits are being refinanced, according to Oak Hill Advisors.  According to co-founder Glenn August the reopening of the syndicated markets have drived the markets further this year. He was speaking in the Bloomberg Wall Street Show.

He mentioned also that the US markets are still benefitting  from the Covid stimulus packages from the central bank. The economy is growing and the unemployment figure is at historic low levels.

In the pharma sector Novavax stock took some profits as the stock closed down 2,97% for the week in New York. The stock has been up after its deal with French Sanofi. Novavax closed at 15,04 dollars.

Moderna decreased nearly 15% during the week after recent week’s jumps. The company said on Friday it has got the FDA approval for its adult RSV vaccine. Moderna closed at 142,57 dollars.

Eli Lilly closed up 2,09% for the week to 820,34 dollars as the Danish Novo Nordisk closed down 0,16% to 927,30 DKK. Pfizer closed down 0,76% for the week to 28,66 dollars.

In Europe Dax index closed down 1,05% to 18.497,94 points in Frankfurt and CAC40 index closed down 1,26% for the week to 7992,87 points.

In London the FTSE 100 index gained 1,67% for the week and closed at 8275,38 points. The pharma companies AstraZeneca and GSK were down for the week. The Luxury group Burberry closed down 1,02% on Friday to 1043  points

In Asia Topix index  closed up 1,09% to 2772,49 while In Hong Kong the Hang Seng index lost 2,93% to 18.079,61 points.

Wall Street closes down – Novavax up over 11%

The stocks closed slightly down at Wall Street on Thursday after the Fed optimism. The markets are expecting the Fed to start lowering rates later this year and Dow Jones crossed over 40.000 points during the trading.

Dow Jones closed at 39.869,38 points, down 0,097%. S&P 500 index closed down 0,21% to 5297,10 points and Nasdaq down 0,26% to 16.698,32  points.

The biotech company Novavax continued up and was at 14,40 dollars, up 11,63%. The company announced its Sanofi agreement last week.

Moderna was also up, 2,80% at 142,68 dollars.

Tech companies Alphabet was at 174,18 dollars, up 0,97%%, Microsoft was at 420,99 dollars down 0,49%. Meta closed down 1,73% at 473,23 dollars.

FTSE 100 closed down – Watches of Switzerland up 18,7%

The London stock markets closed slightly down on Thursday trading. FTSE 100 index lost 0,085% and closed at 8438,65 points. FTSE 250 index closed up 0,23% to 20.822,84 points.

Luxury was the topic in London as both Burberry and the Watches of Switzerland closed clearly up.

Burberry closed up 2,59% to 1130,50 pounds and Watches of Switzerland jumped 18,71% to 401 pounds.

The companies published their earnings figures this week and Watches of Switzerland showed strong sales in the US. Burberry said it will cobtinue to strenghten its distribution and increase brand awareness.

In the health sector AstraZeneca continued up and was 12.108 pounds, up 0,53%. GSK closed down 1,90% to 1778 pounds.

In the mining sector Anglo American, which announced its historic reshaping structure on Tuesday, closed down 0,29% to 2617,50 pounds.

New York continued strong – Reddit +48%

Stocks continued strong performance in New York on Thursday. Dow Jones climped 0,68% to 39.781 points, S&P 500 index gainrd 0,32% to 5241 points and Nasdaq index up 0,20% to 16.401 points.

The social media platform Reddit increased 48% to 50,44 dollars in its Nyse IPO debut.

In Europe Dax index closed up 0,91 % to 18.179 points and Cac40 index gained 0,22% to 8179 points.

In London the FTSE 100 index gained 1,88% to 7883 points.

Stocks up in Europe – Kering down nearly 15%

Stocks closed up in Europe and in London the FTSE100 index gained 1,88% after the Bank of England decision to leave the rates now unchanged but expecting rate cut later on.

The luxury group Kering has declined about 15% after its profit warning on Tuesday. The LVMH executive Belloni Antonio will leave the company.

Dax- index closed up 0,91% to 18.179 points and CAC40-index closed up 0,22% to 8179 points.

Hong Kong trading down – Topix up

The Asian stock markets were trading mixed on Monday morning. Hang Seng index was down 0,99% to 16.178 points in Hong Kong while Topix was up 0,03% to 2625 points in Tokyo, Japan.

This is the first trading day after the Lunar New Year holidays in China. According to Reuters, the holiday spending in China was very strong and exceeded pre-pandemic levels.

Wall Street trading in New York is closed today on Monday because of the President’s Day.

Luxury stocks up in Europe – CAC40 index up 0,86%

Luxury stocks were up on Thursday trading in Europe. LVMH was up 1,45% to 814 euros in Paris and Burberry up 1,89% to 1321 pounds in London.

Also Kering was up 1,69% to 423 euros and Hermes up 1,96% to 2186 euros in Paris. CAC40 index was up 0,86% to 7742 points.

DAX index was up 0,54% to 17.035 points in Frankfurt and FTSE100 index was up 0,19% to 7583 points in London.

The latest macroeconomic data show that the UK had recession at the end of last year. The German chamber of commerce estimates that the German economy will fall 0,5% this year.

Stocks down after the US inflation report

Global stocks turned down after the release of US January inflation data. According to the report inflation eased to 3,1% in January from 3,4% in December, but markets were expecting a 2,9% increase.

This will further strenghten the Fed’s message that central bank is not in a hurry to cut rates. The first rate cut timing has been shifted to May-June time.

Dax index was trading down 0,91% to 16.881 points, CAC40 index was down 0,78%% to 7629 points and FTSE 100 index was down 0,59 % to 7528 points in London

Wall Street closed up – luxury up, Tesla down

Wall Street closed up on Thursday trading. Dow Jones closed up 0,64% to 38.049 points, S&P 500 index closed up 0,53% to 4894 points and Nasdaq index closed up 0,18% to 15.510 points.

The US markets were surprised by the strong economic growth during the last quarter in 2023. The news confirmed that the country could be on its way to softlanding.

Tech stocks were mixed as Tesla closed down over 12% due to its weakening outlook for this year. The company is in transition to new manufacturing and EV development platforms. Uber closed up 3,51% to 66 dollars.

Luxury sector was up after the French LVMH reported a new record year for revenues and profits. LVMH closed up 0,28% in Paris to 685 euros and Ralph Lauren closed up 2,03% and Estee Lauder up 1,98% in New York. Burberry closed down 0,93% to 1278 pounds in London.

In Asia the stocks were declining. Topix is down 0,96% at 2507 points in Japan and the Hang Seng index is down 0,42% at 16.147 points in Hong Kong.