The markets shook off the war panic, and America closed in surplus

By RockedBuzz 20 Min Read

It ended up being a slight plus

Due to the escalating sources of geopolitical tension, optimism on the American stock markets melted away near the end of trading. Regardless, all three major indexes closed in the positive, even if it was not possible to see as much movement as at the beginning of trading.

  • the Dow is 0.4%,
  • the S&P 500 is 0.52%,
  • and the Nasdaq gained 0.56% today.

The mood is deteriorating

Slowly approaching the end of trading, the mood on the American stock markets began to deteriorate, but the leading indices are still in the red.

As of now

  • the Dow is 0.55%,
  • the S&P 500 is 0.69%,
  • and the Nasdaq is up 0.66%.

The atmosphere is good in America

Despite the escalating geopolitical tensions, the mood in the US stock markets is good, investors are buying stocks.

So far in today’s trading

  • The Dow is up 0.8%,
  • The S&P 500 is up 1.1%
  • and the Nasdaq is up 1.22%.
dji index

America is on the rise

Moving away from the opening, the mood on the American stock exchanges is getting better as well, the Dow went up by 0.6 percent, while the S&P 500 rose by 0.5 percent and the Nasdaq strengthened by 0.6 percent.

evolution of the baha us 30 exchange rate

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Small increase in the USA

American stock markets started the day with a moderate rise, the Dow went up by 0.2 percent, while the S&P 500 rose by 0.3 percent and the Nasdaq strengthened by 0.2 percent. The rise is supported by a fall in government bond yields after investors turned to traditional safe-haven assets amid the Israeli conflict. These moves reflect the bond market’s first reaction to the Israel-Hamas conflict, as the bond market was closed yesterday for Columbus Day.


Big rise in Europe

In the early afternoon, the mood on the leading European stock exchanges is getting better and better, in addition to the DAX rising by 1.8 percent, the CAC rose by 1.6 percent and the FTSE 100 by 1.5 percent. It seems that the markets – at least temporarily – were able to “shake off” the uncertainty that came after the outbreak of the Israeli-Palestinian war, but any unfavorable development can lead to serious movements in either direction.


The market reacts to the IMF forecast

After the excellent opening of the market, the gain on the Hungarian stock market melted away significantly, BUX is currently only 0.2 percent higher.

The sudden deterioration in mood can be attributed to the fact that the International Monetary Fund (IMF) downgraded its economic forecast for Hungary, so after the previous 0.5 percent growth, GDP is expected to fall by 0.3 percent this year. The Valutaalap is expecting higher inflation at the end of the year this year than previously expected, and according to them, even at the end of 2024, the rate of price increase will not be below 5 percent.


Europe is getting higher and higher

After the opening, the leading European stock indices are gaining momentum, the German DAX already rose by 1.5 percent in the first hour of trading.

The French CAC is up 1.2 percent, and the English FTSE is up 1 percent.


Minor correction for Opus

Yesterday we also remembered that Opus’s shares fell to a low point not seen since mid-September. Following this, the company’s shares are up 2.6 percent this morning.

opus 1010

He jumps into the Ra

Rába’s shares are already up 3.5 percent after the opening, after the company announced that it will hold a general meeting on November 9, at which shareholders can decide, among other things, on the approval of real estate sales and the renovation of the 67,000 m2 plant hall in Győr.

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A definite rise on the continent’s leading stock exchanges

After the opening, the DAX is up by 1.2, the CAC by 1.1, and the FTSE by 0.9 percent.


An excellent start

After the opening, BUX is up 0.6 percent.


The day can start with a rise in Europe

What are the current events on the stock exchanges?

  • The leading American stock indexes closed yesterday with an increase, the Dow Jones rose 0.6 percent, the S&P 500 closed with a plus of 0.6 percent, while the Nasdaq rose by 0.5 percent.
  • The Asian stock markets are showing an increase this morning, the Nikkei is up 2.61 percent, the Hang Seng is up 1.31 percent, while the CSI 300 is up 0.46 percent.
  • The European stock markets may open in a good mood, based on the future stock indices, the DAX may rise by 1.57 percent, the CAC may rise by 0.63 percent, while the FTSE may open with an increase of 1.21 percent.
  • The American stock futures indexes are forecasting a rise at the opening of the market, the Dow Jones may open 0.01 percent higher, the S&P 500 may rise 0.05 percent, while the Nasdaq may rise by 0.18 percent.

What can be expected on the macro front?

The most important data of the week comes to us this morning, as the KSH publishes the inflation statistics for September. Based on preliminary expectations, largely due to base effects, there was a further significant decrease in the rate of price increase, the figure could even fall to around 12 percent. The announcement may even have an impact on the exchange rate of the forint, since inflationary prospects influence the Hungarian currency. The IMF’s recent World Economic Outlook (WEO) publication can also make today exciting. The International Monetary Fund now publishes its latest autumn macroeconomic forecast, as usual, in time for the annual general meeting, so it also reveals, among other things, how they see the Hungarian economy now.

October 9-15, 2023 macro calendar
Hungarian macroeconomics
October9.Monday8:30 a.mKSHForeign tradeaug.
October9.Monday8:30 a.mMNBSecurities statisticsaug.
October9.Monday11:00 a.mPMPreliminary balanceSept.
October10.Tuesday8:30 a.mKSHInflationSept.
October10.Tuesday11:30 a.mAKK3-month dkj auction
October13.Friday8:30 a.mKSHIndustry (detailed)July
October13.Friday8:30 a.mMNBPreliminary statistical balanceSept.
International macroeconomics
October9.MondayUSAColumbus Day
October9.Monday8:00 a.mGerman.Industrial productionaug.
October10.Tuesday10:00 a.mIMFWorld Economic Outlook
October11.Wednesday8:00 a.mGerman.InflationSept.
October11.Wednesday2:30 p.mUSAIndustrial producer pricesSept.
October11.Wednesday20:00USAFed minutes
October12.Thursday1:30 p.mEUECB minutes
October12.Thursday2:30 p.mUSAInflationSept.
October13.Friday3:30 amChinaInflationSept.
October13.Friday5:00 a.mChinaForeign tradeSept.
October13.Friday11:00 a.mEUIndustryaug.
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 37.5 percent shift, while the Hang Seng index is the driving force with an 11.4 percent fall.
  • Magyar Telekom’s share performed the best among domestic blue chips this year with a 69.3 percent increase, and Richter’s paper is at the bottom of the list with a 4.0 percent increase.
  • Among the more important raw materials, the price of Brent has already risen by 3.9 percent since the beginning of the year.
More important instruments
Exchange rateOne day1 week1 monthThis year1 year5 years
US stock indices
Dow Jones33,604.650.6%0.5%-2.8%1.4%14.7%27.1%
S&P 5004,335.660.6%1.1%-2.7%12.9%19.1%50.5%
Asian stock indices
Hang Seng17,517.40.2%-1.6%-3.8%-11.4%-1.3%-33.1%
CSI 3003,684.73-0.1%-0.1%-1.5%-4.8%-3.2%12.0%
European stock indices
DAX15 128.11-0.7%-0.8%-3.9%8.7%23.3%26.3%
FTSE MIB27,682.06-0.5%-0.6%-2.0%16.8%32.4%38.0%
IBEX9 151.3-0.9%-1.8%-2.3%11.2%23.1%-1.2%
Regional stock indices
Hungarian blue chips
OTP13 130-0.4%-1.5%-8.4%29.9%60.9%28.9%
Mol2 7741.1%0.4%4.0%6.6%7.9%-8.8%
Magyar Telekom5741.1%4.7%27.6%69.3%96.9%43.5%
Raw materials
Foreign currencies
Government papers
10-year US Treasury yield4.64-3.3%-1.0%8.9%21.0%19.4%44.6%
10-year German government bond yield2.73-4.3%-5.3%6.1%6.6%24.3%406.7%
10-year Hungarian government bond yield7.820.5%4.5%11.2%-15.5%-22.1%99.5%
Source: Refinitiv, Portfolio

Cover image source: undefined undefined via Getty Images

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