Flash reports are pouring in this week, investors are cautious

By RockedBuzz 30 Min Read

The American stock market opens in half

Trading on the American stock market starts with positive movements, the Dow fell by 0.1 percent, the S&P 500 went up by 0.1 percent, and the Nasdaq marched up by 0.4 percent. Investors are waiting for important quick reports this week, Tesla, Netflix, United Airlines, Goldman Sachs, Morgan Stanley and Bank of America will also publish their numbers in the next few days.

evolution of the baha us 500 exchange rate

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A decline in European stock markets

The leading European indices started trading with a fall, the Stoxx 600 fell by 0.5 percent, the DAX fell by 0.4 percent, and the CAC-40 fell by 0.8 percent.


Commodity prices came under pressure due to weak Chinese data this morning, the price of oil fell by more than 1 percent, accordingly, shares of commodity-related companies and the energy sector on European stock exchanges went down.

The papers of European luxury companies were also hit this morning, on the one hand, the shares of LVMH, Hermes and Kering fell due to exposure to China, and on the other hand, Richemont reported a quarterly growth figure that fell short of analysts’ expectations.

What are the current events on the stock exchanges?

  • The leading American stock indexes closed mixed on Friday, the Dow Jones rose 0.3 percent, the S&P 500 fell 0.1 percent, while the Nasdaq fell 0.2 percent. Investors are focusing on quick corporate reports, the big banks reporting last week produced especially good numbers and the season continues this week, apart from the banks to the numbers of Tesla, IBM and Netflix will be worth watching.
  • Asian stock markets typically fall this morning, with the Nikkei down 0.58 percent, the Hang Seng down 0.5 percent, and the CSI 300 down 0.08 percent. This morning’s China’s GDP data was disappointing, the economy grew at a slower pace than expected due to the weakening of domestic and international demand. The annual growth rate of 6.3% was significantly lower than the forecasted growth of 7.3%.
  • Industrial and retail data also came in from China this morning, with June data showing retail sales rose just 3.1%, a significant slowdown from May’s 12.7% increase. Industrial production growth accelerated slightly to 4.4% last month from 3.5% in May, but overall demand remains weak.
  • The day can start with a search for direction on the European stock exchanges, based on the current state of the future stock indices, the DAX can open with a gain of 0.12 percent, the CAC can start the day with a loss of 0.36 percent, while the FTSE can fall by 0.55 percent.
  • The futures indexes also predict a fall for the American stock markets, the Dow Jones may fall by 0.13 percent, the S&P 500 may open down by 0.08 percent, while the Nasdaq may fall by 0.1 percent.

What can be expected on the macro front?

Today, the focus is on Chinese macroeconomic data, no more important statistics are coming from Europe and the United States. We will have a relatively quiet week on the macro front, especially at home, hardly any noteworthy data will appear.

July 17-23, 2023 macro calendar
Hungarian macroeconomics
July17.Monday8:30 a.mMNBBalance of paymentsliver.
July18.Tuesday8:30 a.mMNBInternational reservesJune
July18.Tuesday11:30 a.mAKK3-month dkj auction
July19Wednesday11:30 a.mAKK6-month dkj auction
July20.Thursday11:30 a.mAKK12-month dkj auction
International macroeconomics
July17.Monday4:00 a.mChinaGDPQ2
July17.Monday4:00 a.mChinaIndustryJune
July17.Monday4:00 a.mChinaRetail tradeJune
July18.Tuesday2:30 p.mUSARetail tradeJune
July19.Wednesday11:00 a.mEUBuilding industryliver.
July19.Wednesday11:00 a.mEUInflationJune
July20.Thursday3:15 amChinaInterest rate decision
July20.Thursday8:00 a.mGerman.Industrial producer pricesJune
July21.Friday8:00 a.mUKRetail tradeJune
Source: Portfolio collection

What has happened on the stock markets so far?

  • Among the leading American, Asian, European and regional stock indexes this year, the Nasdaq index is at the top with a 42.3 percent shift, the Hang Seng index is the driving force with a 1.9 percent fall.
  • Magyar Telekom’s share performed the best among domestic blue chips this year with a 23.9 percent increase, and Richter’s paper is at the bottom of the list with a 5.4 percent increase.
  • Among the most important raw materials, the price of gold has risen by 7.9 percent since the beginning of the year.
More important instruments
Exchange rateOne day1 week1 monthThis year1 year5 years
US stock indices
Dow Jones34,509.030.3%2.3%1.6%4.1%12.7%37.9%
S&P 5004,505.42-0.1%2.4%3.0%17.3%18.9%60.8%
Asian stock indices
Hang Seng19,413.780.3%5.7%0.0%-1.9%-6.4%-31.9%
CSI 3003,899.10.0%1.9%0.9%0.7%-9.8%11.6%
European stock indices
DAX16 105.07-0.2%3.2%-1.3%15.7%28.6%28.4%
FTSE MIB28,663.3-0.4%3.2%3.1%20.9%39.5%30.9%
Regional stock indices
ATX3 161.21-0.2%1.5%-1.6%1.1%12.4%-3.8%
Hungarian blue chips
Magyar Telekom4201.2%1.6%2.7%23.9%40.0%4.2%
Raw materials
Foreign currencies
Bitcoin30 331-3.6%-0.1%20.7%82.7%47.4%388.0%
Government papers
10-year US Treasury yield3.821.6%-5.4%0.4%-0.3%29.2%35.1%
10-year German government bond yield2.480.5%-5.9%1.5%-3.4%122.2%775.3%
10-year Hungarian government bond yield7.140.1%-5.3%-1.1%-22.8%-22.6%108.2%
Source: Refinitiv, Portfolio

Cover image source: Getty Images

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