News

US markets (S&P 500 Index -0.2%) edged lower for a third day in a row as nervous investors await the Fed’s guidance on Friday in terms of the interest rate hiking track. There wasn’t much fresh news to drive markets, but weaker US data (services and housing) overnight got the market’s attention, causing some choppy trading conditions Most sectors were lower except for energy and materials. Supply issues continue to push commodity prices higher, as Saudi Arabia threatened to cut production. European markets (Stoxx 600 Index -0.5%) were lower after digesting higher oil prices and weaker economic data from the eurozone. Purchasing managers index (PMI) data out of eurozone contracted for the second month in a row.

US markets (S&P 500 Index -2.1%) fell sharply overnight, suffering the worse single day decline since June as markets prepared for a more hawkish monetary policy outlook from the Fed on Friday –  as more is still required to fight inflation.

US markets (S&P 500 Index -1.3%) fell on Friday, to end the week down -0.8% as investors became more cautious around the higher interest rate backdrop.

US markets (S&P 500 Index +0.2%) ended a choppy session higher overnight, as mixed economic data and earnings failed to provide the market with a clear direction.

US markets (S&P 500 Index -0.7%) fell overnight, snapping a 5-day winning streak.

US markets (S&P 500 Index +0.2%) rose overnight on the back of better-than-expected results from major US retailers.

US markets rallied overnight (S&P 500 Index +0.4%) to extend gains from last week, recovering from an initial loss early in the session.

Global markets were up on Friday, with US markets (S&P 500 Index +1.7%) experiencing a fourth straight week of gains – the longest run since November last year. 

Global markets were mixed overnight, as US markets (S&P 500 Index) pared back early gains to end the session flat. There seems to be an element of profit-taking post the rally that followed softer-than-expected inflation data, with the Federal Reserve still set to keep tightening monetary policy.