Only the Nasdaq was able to gain strength in the shadow of the shutdown

RockedBuzz
By RockedBuzz 90 Min Read


Only the Nasdaq climbed higher

Among the leading US stock indexes, the Nasdaq ended the day with a gain of 0.15 percent, while the S&P-500 fell by 0.3 percent and the Dow fell by half a percent below Thursday’s closing value.

evolution of the baha us 30 exchange rate

chart 55135

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The indices are already falling

On Friday, the leading US indices weakened after another proposal to avoid a shutdown of the US government from Sunday failed. Now the Dow is down 0.7 percent, the S&P-500 is half a percent below its Thursday value, but the Nasdaq shows only a minimal decline.

evolution of the baha us 30 exchange rate

chart 55131

Stock trading, creating longer-term investment portfolios or pension portfolios a Portfolio Trader with the help ofnc=0


The Dow is stuck in the red

For the time being, trading on Wall Street is in a positive mood, as the S&P-500 gained 0.2 percent and the Nasdaq gained 0.7 percent compared to Thursday’s close, but the Dow is down 0.15 percent.

evolution of the baha us tech 100 exchange rate

chart 55127

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American stock markets opened higher

The American stock markets opened higher after the afternoon inflation data, which showed that the core inflation of personal consumption expenditures (on an annual basis) decreased to 3.9% in August from 4.3% the previous month. Meanwhile, the main inflation indicator rose to 3.5% from 3.4% in July. The Federal Reserve’s preferred inflation gauge fell in August, indicating that after a spike in the summer the fight against inflation is back on track, although upward pressure on prices remains. This would be a reassuring sign for markets given the concern over the interest rate outlook.

The Dow is up 0.4 percent, the S&P 500 is up 0.6 percent, and the Nasdaq is up 1 percent.

evolution of the baha us 500 exchange rate

chart 55093

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The OTP clicks

European stock markets continue to rise, and American indices may also open with increases based on the position of the cut-off indices.

Buyers in the OTP market also started in a good mood after yesterday’s fall, the domestic bank paper is up 2.5 percent.

Thanks to this, the BUX is also rising, gaining 1 percent.

Development of the OTP exchange rate

chart 55091

Stock trading, creating longer-term investment portfolios or pension portfolios a Portfolio Trader with the help ofnc=0


Commerzbank is gone

Commerzbank’s share price jumped more than 11 percent in today’s trading after the German bank updated its shareholder cash return policy. The company would spend 3 billion euros on dividends and own share purchases, and promises a dividend payout rate of at least 70 percent by 2024.

commerzbank0929


Here are the European inflation figures

Eurozone inflation fell significantly in September, more than expected, according to Eurostat data. Both core inflation and the main indicator developed favorably. After the data, the European indices continued to rise in this morning’s trading, the leading Western European markets are already up by almost 1 percent:

  • the DAX 0.9 percent
  • the Stoxx 600 1.2 percent
  • the FTSE-100 0.9 percent
  • the CAC-40 gained 1 percent.
dax1min0929


Rising in Europe

Leading Western European stock indices rose ahead of the publication of inflation data for the Eurozone, the DAX rose by 0.7 percent, the FTSE-100 by 0.5 percent, and the CAC-40 by 0.7 percent.

dax0929


So far, Opus has bought nearly HUF 700 million worth of own shares

As part of the share buyback program, Opus has so far purchased a total of 2,383,750 shares worth HUF 686.6 million – the company announcedadding that the continuation of the program will start again on October 4, 2023 due to the bank holidays indicated by the investment service provider, if all conditions defined in the program continue to exist.

The price of Opus is up 0.1 percent today.

Development of the Opus exchange rate

chart 55069

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What are the current events on the stock exchanges?

  • The leading US stock indexes closed higher yesterday, after government bond yields fell somewhat below their multi-year highs, the Dow Jones was up 0.3 percent, the S&P 500 closed up 0.6 percent, while the Nasdaq ended the day up 0.8 percent.
  • Asian stock markets are typically up this morning, with the exception of the Japanese market, where the Nikkei fell 0.4 percent after macro data came in from the country, such as inflation statistics. THE Hong Kong’s Hang Seng index jumped more than 2 percent led by consumer discretionary stocks and the real estate sector, while Chinese and South Korean stock markets did not open today due to public holidays.
  • European stock markets may open with moderate increases, based on the future stock indices, the DAX and FTSE-100 may open with a minimal gain, and the CAC may rise by 0.6 percent.
  • A mixed opening is expected on the American stock exchanges according to future stock indices. The Dow Jones may rise by 0.06 percent, the S&P 500 may open 0.03 percent lower, while the Nasdaq may rise by 0.07 percent.

What can be expected on the macro front?

This morning, the KSH will publish the employment and unemployment data for August, and abroad Eurostat’s preliminary inflation data and the US PCE inflation may be exciting for investors, the latter data being followed closely by the Fed.

September 25-October 2023 1. Macro calendar
Hungarian macroeconomics
September25.Monday8:30 a.mKSHI’m askingJuly
September26.Tuesday8:30 a.mMNBBalance of paymentsQ2
September26.Tuesday11:30 a.mAKK3-month dkj auction
September26.Tuesday14:00MNBInterest rate decision
September26.Tuesday14:00MNBRecent macroeconomic forecasts
September26.Tuesday15:00MNBAnnouncement
September28.Thursday8:30 a.mKSHIndustrial producer pricesaug.
September28.Thursday8:30 a.mKSHPeople’s movementaug.
September28.Thursday10:00 a.mMNBInflation report
September29.Friday8:30 a.mKSHEmployment, unemploymentaug.
International macroeconomics
September25.Monday10:00 a.mGerman.IFO indexSept.
September26.Tuesday4:00 p.mUSAConsumer confidenceSept.
September27.Wednesday2:30 p.mUSAOrdering consumer durablesaug.
September28.Thursday14:00German.InflationSept.
September28.Thursday2:30 p.mUSAGDP (revised)Q2
September29.Friday8:00 a.mUKGDP (revised)Q2
September29.Friday8:00 a.mGerman.Retail tradeaug.
September29.Friday8:45 a.mFrench.InflationSept.
September29.Friday9:55 a.mGerman.Unemploymentaug.
September29.Friday11:00 a.mEUInflationSept.
September29.Friday2:30 p.mUSAPCE inflationaug.
September30.Saturday3:00 a.mChinaNBS purchasing manager indexSept.
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 34.4 percent shift, the Hang Seng index is the driving force with an 11.0 percent fall.
  • Magyar Telekom’s share performed the best among domestic blue chips this year with a 60.5 percent increase, followed by Mol’s paper with a 6.8 percent increase.
  • Among the most important raw materials, the price of WTI has risen by 14.3 percent since the beginning of the year.
More important instruments
Exchange rateOne day1 week1 monthThis year1 year5 years
US stock indices
Dow Jones33,666.340.3%-1.2%-2.6%1.6%13.4%27.2%
S&P 5004,299.70.6%-0.7%-3.0%12.0%15.6%47.6%
Nasdaq14,702.770.8%0.1%-2.3%34.4%27.9%92.8%
Asian stock indices
Nikkei31,872.52-1.5%-2.1%-0.9%22.1%21.8%32.1%
Hang Seng17,611.870.0%-0.2%-2.9%-11.0%2.1%-36.6%
CSI 3003,689.52-0.3%0.5%-1.7%-4.7%-3.6%7.3%
European stock indices
DAX15,323.50.7%-1.6%-3.0%10.1%25.8%25.1%
CAC7 116.240.6%-1.4%-2.8%9.9%23.4%29.5%
FTSE7,601.850.1%-1.0%3.6%2.0%8.5%1.2%
FTSE MIB28,163.030.5%-1.9%-1.3%18.8%35.1%36.0%
IBEX9,426.81.0%-1.3%-0.7%14.6%26.7%0.4%
Regional stock indices
BUX55,379.72-1.1%-0.4%-2.5%26.5%46.8%49.0%
ATX3 151.850.9%-0.3%0.8%0.8%16.9%-5.7%
PX1,340.960.0%-0.5%-0.7%11.6%17.1%21.7%
WIG2064,417.96-0.7%-3.2%-6.3%12.1%35.7%9.2%
Hungarian blue chips
OTP13,010-2.2%-1.0%-9.1%28.7%60.2%26.1%
Mol2,780-0.5%-0.4%2.1%6.8%17.5%-7.3%
Richter8,975-0.7%-0.6%-1.9%8.1%24.7%72.3%
Magyar Telekom5440.0%2.8%19.3%60.5%86.3%36.0%
Raw materials
WTI91.71-2.1%2.3%14.5%14.3%11.0%25.2%
Brent95.47-1.2%2.3%12.9%12.4%6.8%15.3%
Ratio1,860.09-1.2%-3.1%-3.1%2.4%12.6%56.1%
Silver22.57-0.3%-3.2%-7.3%-5.0%20.1%53.7%
Foreign currencies
EURHUF393.17500.1%1.4%2.6%-1.8%-5.2%21.6%
USDHUF372.2191-0.3%2.3%4.9%-0.8%-13.5%33.7%
GBPHUF452.6250-0.2%1.2%1.3%0.2%-2.0%24.6%
EURUSD1.05630.5%-0.9%-2.2%-1.0%9.7%-9.1%
USDJPY149.48000.0%1.4%2.0%12.2%3.4%31.6%
GBPUSD1.21980.5%-0.7%-3.0%1.4%13.5%-6.5%
Cryptocurrencies
Bitcoin27,0262.5%1.7%3.5%62.8%39.2%308.8%
Government papers
10-year US Treasury yield4.57-0.7%2.0%8.6%19.3%23.4%49.3%
10-year German government bond yield2.944.6%8.0%15.7%14.6%36.0%519.8%
10-year Hungarian government bond yield7.653.8%7.3%3.8%-17.3%-22.3%111.3%
Source: Refinitiv, Portfolio

Cover image source: Getty Images

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