The mood is improving, the stock markets are heading upwards again

By RockedBuzz 32 Min Read

The American stock markets had a good day

Among the leading overseas stock indexes, the Dow ended the day up 0.2 percent, while the S&P 500 gained 0.4 percent and the Nasdaq gained 0.7 percent.

evolution of the baha us 30 exchange rate

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Birkenstock shares have started trading!

A few minutes after the IPO, the price of Birkenstock is in a significant decline, compared to the issue of $46, the listing is currently at $40.6, which corresponds to a drop of 11.8 percent.

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Surprising data has arrived, the mood is deteriorating

The initial rise was replaced by a smaller fall on the US stock markets, after US producer prices increased more than expected in September based on the latest macro data. In addition to the Dow falling by 0.2 percent, the S&P 500 fell by 0.1 percent, but the Nasdaq is still in the red, rising by 0.2 percent.

evolution of the baha us 30 exchange rate

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Small increase in the USA

American stock markets opened higher, the Dow and S&P 500 rose by 0.4 percent, while the Nasdaq gained 0.6 percent. All this happened despite the fact that the producer price index rose by 0.5 percent in September, against expectations for a 0.3 percent increase. Although the September figure was slightly higher than what analysts had expected, it still represented a slowdown compared to the previous month’s 0.7 percent increase in producer prices. Investors’ focus will then turn to the minutes of the Fed’s latest meeting that will arrive in the evening, followed by Thursday’s consumer price index data.


Meanwhile, moderate optimism can be seen on the European stock markets as well.

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The mood is improving

Turning to the first half of the afternoon, the mood on the European stock markets continues to improve, the leading indices are now characterized by a moderate rise.

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Mixed movements

The European stock markets show uncertain movements, as long as the leading Western European indices – for example the German or French – fall, the Hungarian market and the regional indices show a small increase.

LVMH fell 6.7 percent to a more than 10-month low after the luxury goods maker reported just 9 percent revenue growth in the third quarter, signaling a post-pandemic spending boom that played a big role in the French stock market fall. its effect is melting more and more.

Other French luxury companies, such as Hermes and Kering, are also down 2-3 percent. Among the Swiss luxury companies, Richemont fell by 4.2 percent and Swatch Group by 1.8 percent.

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European stock markets are falling

European stock markets fall after the opening, with the DAX down 0.3 percent, while the CAC fell 0.5 percent and the FTSE 100 weakened 0.2 percent. The Milan stock exchange also fell by 0.5 percent, while the Spanish market fell by 0.6 percent.


The rise may continue

What are the current events on the stock exchanges?

  • The leading American stock indexes closed yesterday with an increase, the Dow Jones ended the day up 0.4 percent, the S&P 500 closed up 0.5 percent, while the Nasdaq rose 0.6 percent.
  • The Asian stock markets are showing an increase this morning, the Nikkei is up 0.71 percent, the Hang Seng is up 2.22 percent, while the CSI 300 is up 1 percent.
  • 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 may rise by 0.53 percent, the CAC may strengthen by 0.41 percent, while the FTSE may rise by 0.34 percent.
  • A mixed opening is expected on the American stock exchanges based on the current position of the future stock indices. The Dow Jones may open 0.02 percent lower, the S&P 500 may open 0.02 percent higher, while the Nasdaq may rise 0.16 percent.

What can be expected on the macro front?

Revised German inflation data will arrive today, in addition to the US industrial producer price index and the minutes of the Fed’s latest meeting should be exciting. It may be worth paying attention to the latter in particular, as the probability of further interest rate hikes overseas has fallen due to the increase in yields in recent weeks.

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 38.3 percent shift, the Hang Seng index is the driving force with a 10.7 percent fall.
  • Magyar Telekom’s share performed the best among domestic blue chips this year with a 74.0 percent increase, and Richter’s paper is at the bottom of the list with a 5.8 percent increase.
  • Among the most important raw materials, the price of WTI has risen by 7.2 percent since the beginning of the year.
More important instruments
Exchange rateOne day1 week1 monthThis year1 year5 years
US stock indices
Dow Jones33,739.30.4%2.2%-2.4%1.8%15.5%31.8%
S&P 5004,358.240.5%3.0%-2.2%13.5%20.6%56.5%
Asian stock indices
Hang Seng17,664.730.8%1.9%-3.0%-10.7%2.6%-32.6%
CSI 3003,657.13-0.7%-0.9%-2.2%-5.5%-1.7%11.4%
European stock indices
CAC7 162.432.0%2.4%-1.1%10.6%22.6%37.6%
FTSE MIB28,318.222.3%3.0%0.3%19.5%35.4%43.6%
Regional stock indices
ATX3 150.311.9%1.8%0.2%0.8%14.7%-3.2%
Hungarian blue chips
Magyar Telekom5902.8%6.9%31.1%74.0%104.5%47.9%
Raw materials
Foreign currencies
Government papers
10-year US Treasury yield4.650.3%-3.2%9.3%21.4%17.5%46.6%
10-year German government bond yield2.750.5%-6.2%6.7%7.1%17.9%399.3%
10-year Hungarian government bond yield7.53-3.7%-0.8%7.1%-18.6%-26.1%89.2%
Source: Refinitiv, Portfolio

Cover image source: Getty Images

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