Markets advanced during the week ahead of the Memorial Day holiday weekend, with MSCI World Index up +1.4% and S&P 500 +1.2%, with sentiments lifted by Biden’s unveiling of a massive stimulus plan. Biden sent Congress a $6 trillion budget plan that would ramp up spending on infrastructure, education and combating climate change, which includes…
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The crash of cryptocurrencies during the week, partly attributed to China reiterating that their use in transactions is forbidden, spilled over into the overall U.S. and global markets to weaken sentiments, with S&P 500 down -0.4%, NASDAQ +0.3%, MSCI World Index +0.1%, Stoxx +0.4%, DAX +0.1%, FTSE -0.4%, China CSI 300 +0.5% and Shanghai Composite…
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Inflation fear engulfed the markets in flames during the week, with heavy losses inflicted upon tech (NYFANG+ index -4%, ARK Innovation ETF -4.9%) to emerging markets (MSCI China -3.1%, extending losses from its mid-Feb highs to more than 20% and entering a bear market, Taiwan TWSE -8.4% in biggest crash in its 54-year history, STI…
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Extreme rotation into Cyclicals (Materials/Commodities/Energy, Banks, Transport, Homebuilders) during the week led to tech stocks tumbling in its worst sell-off in months, sparked by Treasury Secretary Janet Yellen’s comments on Wednesday that interest rates may have to rise moderately to keep the economy from overheating. The losses in tech sustained even as Yellen attempted to…
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Markets declined to close out April with a whimper and were unusually choppy and spooky beneath the surface during the week despite a strong earnings season, which saw Microsoft and Apple down 3.4% and 2.1% despite reporting better-than-expected earnings, as a wave of profit-taking swept across the market, resulting in many popular stocks – both…
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