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13 September 2022 -

4th Green Day | Walt Disney

US markets (S&P 500 Index + 1.0%) recorded its fourth consecutive positive session. Energy was the best performing sector, followed closely by Technology, but the rally occurred across was broad. Fortinet (+4.2%) and Apple (+3.9%) were among the top performing Technology stocks, the latter boosted by reports that the new iPhone 14 presales are better than expected. European markets (Stoxx 600 Index, +1.8%) continued last week’s momentum on Monday, rising above its 50-day moving average and booking its largest three-day rally in two months.

8 September 2022 -

Markets Stabilize | Johnson & Johnson

US markets (S&P 500 Index +1.8%) have broken their 7-day losing streak, with every sector except energy (-1.2%) closing the session in the green. Utilities and Consumer Discretionary stocks led the pack, both rising 3.0% on the day. Oil stocks within the energy sector index were rocked by the fall in price of WTI Crude oil (-5.8%) over the past 24 hours. European markets (Stoxx 600 Index, -0.4%) fell on Wednesday, following declines in commodity stocks after data from China added to worries about a global economic slowdown. Shares in Ubisoft (UBI:EPA) tumbled 17.2% after investors lost faith that China’s Tencent (0700.HK) would conduct a full buyout of the company.

7 September 2022 -

Market Slide, RBA Hikes | Genesis

US markets (S&P 500 Index –0.4%) whipped between gains and losses but eventually closed lower in the first post-Labour Day session. The NASDAQ Index fell -0.7% marking its 7th daily decline in a row, on the back of ‘good’ economic news which translates badly for market sentiment at the moment. US services sector data came in stronger than expected for the month of August, implying the US economy is still in a strong position despite recent interest rate hikes, giving the Fed more room to hike rates further. Adding to the pessimism in stocks is the surge in bond yields. The yield on the 2-year U.S. Treasury jumped to a fresh daily high of 3.515% on Tuesday, almost touching the highs that occurred in 2007.