American stock markets were uncertain

By RockedBuzz 49 Min Read

The Mol jumps

The value of Mol elevated by 2.7 % jumped on the information that Mol had concluded an official contract with the Hungarian State relating to its extraction in Hungary, if fulfilled, the mining royalty relevant to the corporate could also be retroactively diminished till September 1. This may very well be as a lot as 400-450 million {dollars} within the interval as much as December 2024.

Development of the change price of Mol

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The rise of Mol additionally pushed the BUX index up by 1.2 %.

Evolution of the worth of BUX

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Currency pairs, indices, commodities, shares, CFDs. Everything that makes a dealer’s coronary heart beat in reference to fluctuating change charges. Portfolio Tradernc=0

American indices opened with a fall

The main American indices opened with a fall, the Dow fell by 0.2 %, the S&P 500 by 0.3 %, and the Nasdaq by 0.6 % within the first hour of buying and selling.


The focus of buyers’ consideration continues to be on the excessive bond yields, in addition to the third quarter flash stories, primarily from the banking sector, Goldman Sachs and Bank of America additionally revealed their quarterly numbers immediately.

On the opposite hand, the chip producers fell, Nvidia fell by 4.7 % and AMD by 1.3 %after the US Commerce Department introduced plans to tighten restrictions on the sale of superior synthetic intelligence chips to China.

Opus Global’s personal share buy program has ended

Opus Global’s share buyback program introduced on July 21, 2023 was accomplished on the buying and selling day of October 16, 2023, in keeping with the corporate’s announcement. As a part of the share buyback program the corporate purchased a complete of three,266,782 shares price HUF 999,999,817which is lower than half a % of the market capitalization.

Development of the Opus change price

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Reported by Johnson & Johnson

Johnson & Johnson’s share value is up 1.1 % in pre-opening buying and selling after the corporate reported stronger quarterly numbers than the analyst consensus and administration raised its expectations for this yr.

The firm’s pharmaceutical and medical gadgets enterprise carried out significantly effectively in the course of the interval.

The closed quarter was the primary full quarter for the corporate because it spun off its shopper well being enterprise from Johnson & Johnson, which continues to function beneath the title Kenvue. After outsourcing the enterprise, the corporate adjusted its annual income and revenue expectations downwards, which it has now barely raised similtaneously the quarterly fast report:

  • Instead of the earlier 83.2-84.0 billion {dollars}, the brand new gross sales forecast for 2023 is 83.6-84.0 billion {dollars}.
  • The annual revenue per share may very well be 10.07-10.13 {dollars} as an alternative of the earlier 10.0-10.1 {dollars}.

Uncertain actions in Europe

A particular path has not but emerged on the European stock markets, combined actions are seen. At the person share degree, Ericsson’s share value fell 8.2 % to a six-year low after the Swedish community tools maker’s fourth-quarter forecast fell in need of expectations and the corporate signaled uncertainty concerning the restoration of its cellular community enterprise.

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In the meantime, the BUX is on a average rise, and among the many home blue chips, the Richter is the one which pulls the index up.

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The Polish market is on the rise

In Tuesday morning buying and selling, the main indices nonetheless present average actions, which appear to be minimal in Europe. The post-election rally continues to rumble on the Polish stock market, with the PGE vitality firm performing greatest with its 8 % rise.

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The Polish stock market continues to rally

Already yesterday, the Polish stock market rose virtually 5 %, after exit polls indicated that Donald Tusk, who additionally held the presidency of the European Council, could return to energy on the head of the most important opposition pressure, the Civic Coalition (KO). After that, the just about ultimate knowledge of the Polish election were introduced from Monday to Tuesday: though the whole outcomes aren’t but accessible in a single or two voting districts, and they’re nonetheless ready for international votes, the Civic Coalition-Third Way-New Left opposition alliance was in a position to acquire a cushty majority within the In Szejm and within the Senate, the ruling Law and Justice social gathering misplaced quite a bit.

After the outcomes, the Polish stock market rose one other 1.5 % immediately.


There is not any path

We noticed an indecisive opening on the European stock exchanges, the DAX, the CAC, and the FTSE 100 are additionally stagnant, a couple of factors away from yesterday’s closing worth. The Spanish market can be in search of path, whereas the Milan stock change rose 0.1 %.


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What are the present occasions on the stock exchanges?

  • The main American stock indexes closed yesterday with an increase, the Dow Jones rose 0.9 %, the S&P 500 closed with a achieve of 1.1 %, whereas the Nasdaq ended the day with a achieve of 1.2 %.
  • The Asian stock markets are displaying a rise this morning, the Nikkei is up 1.15 %, the Hang Seng rose 0.82 %, whereas the CSI 300 rose 1.16 %.
  • Looking for a path in Europe will be based mostly on the place of the longer term stock indices.
  • American stock markets could open with a fall, based mostly on the present state of the longer term stock indices, the Dow Jones could fall by 0.1 %, the S&P 500 could fall by 0.13 %, whereas the Nasdaq could open with a lack of 0.14 %.

What will be anticipated on the macro entrance?

The Budapest Economic Forum is happening immediately, at which well-known home and international audio system will speak concerning the financial outlook. In addition, there will likely be a gathering of the European finance ministers immediately, in addition to retail and industrial statistics from the United States, each knowledge will likely be essential, as a result of the American financial system is stronger than anticipated, and this will result in inflationary dangers. Investors due to this fact pay extra consideration to the info than ordinary, as a result of the Fed additionally pays a variety of consideration to those indicators.

October 16-22, 2023 macro calendar
Hungarian macroeconomics
October16.Monday8:30 a.mKSHBuilding businessaug.
October17.TuesdayBudapest Economic Forum
October17.Tuesday11:30 a.mAKK3-month dkj public sale
October18.Wednesday8:30 a.mMNBInternational reservesOct.
October20.Friday11:00 a.mPMDetailed VATSept.
International macroeconomics
October17.Tuesday8:00 a.mUKUnemploymentaug.
October17.TuesdayEUEcofin seat
October17.Tuesday2:30 p.mUSARetail commerceSept.
October17.Tuesday15:15USAIndustrial manufacturingSept.
October18.Wednesday4:00 a.mChinaGDPQ3
October18.Wednesday11:00 a.mEUInflation (second estimate)Sept.
October18.Wednesday2:30 p.mUSAResidential constructing permitsSept.
October18.Wednesday20:00USABeige e book
October19.Thursday4:00 p.mUSAUsed dwelling gross salesSept.
October20.Friday1:30 a.mJapanInflationSept.
October20.Friday3:15 amChinaInterest price determination
October20.Friday8:00 a.mUKRetail commerceSept.
Source: Portfolio assortment

What has occurred on the stock markets thus far?

  • Among the main American, Asian, European and regional stock indexes this yr, the Nasdaq index is on the prime with a 38.7 % shift, the Hang Seng index is the driving pressure with a ten.8 % fall.
  • Among home blue chips, Magyar Telekom’s share carried out greatest this yr with a 72.0 % enhance, and Richter’s paper is on the backside of the listing with a 4.5 % enhance.
  • Among the extra essential uncooked supplies, the value of WTI has risen by 8.0 % because the starting of the yr.
More essential devices
Exchange priceOne day1 week1 monthThis yr1 yr5 years
US stock indices
Dow Jones33,984.540.9%1.1%-1.8%2.5%14.7%31.7%
S&P 5004,373.631.1%0.9%-1.7%13.9%22.1%55.6%
Asian stock indices
Hang Seng17,640.36-1.0%0.7%-3.0%-10.8%6.3%-30.7%
CSI 3003,626.6-1.0%-1.6%-2.2%-6.3%-5.6%17.0%
European stock indices
FTSE MIB28,391.60.5%2.6%-1.7%19.8%35.6%44.0%
Regional stock indices
ATX3 158.470.4%2.2%-0.8%1.0%14.9%-3.5%
Hungarian blue chips
Magyar Telekom583-0.3%1.6%11.0%72.0%106.0%47.2%
Raw supplies
Foreign currencies
Government papers
10-year US Treasury yield4.71.8%1.5%8.6%22.7%17.5%48.8%
10-year German authorities bond yield2.751.9%0.7%4.0%7.3%16.5%463.3%
10-year Hungarian authorities bond yield7.440.3%-4.9%6.3%-19.6%-32.9%87.9%
Source: Refinitiv, Portfolio

Cover picture supply: Getty Images

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