Financial Markets Daily Report22 January 2024
Global financial markets were mixed in the last session of the week as investors continue to navigate through interest rate cut expectations and new economic data. US University of Michigan consumer sentiment index improved to 78.8, the highest reading since July 2021, boosting the stock market and bringing the S&P 500 to a new record high.
- Global financial markets were mixed in the last session of the week as investors continue to navigate through interest rate cut expectations and new economic data. US University of Michigan consumer sentiment index improved to 78.8, the highest reading since July 2021, boosting the stock market and bringing the S&P 500 to a new record high.
- Euro area main stock indices closed slightly lower on Friday and were mixed in Asia. Sovereign bond yields were little changed on both sides of the Atlantic. In currency markets, the US dollar held steady against most of its peers and the dollar/euro cross traded at the 1.09 level. The price of a barrel of Brent oil remained below the $78 mark.
- This week the market will have many data releases to watch out for. In the US: January PMI (Wed.), 4Q GDP (Thurs.), PCE Deflator (Fri.). In the euro area: consumer confidence (Tues.), PMI for France, Germany and the euro area (Wed.), and the ECB will meet on Thursday, with investors not expecting any interest rate changes on this meeting.