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Asia starts the year in the red
We said goodbye to a very positive year for stock markets (S&P 500 +23.3%, STOXX 600 +5.98% and IBEX +14.5%), with slight gains in Europe in a half-holiday session. In the STOXX 600, the best-performing sectors on the year were Banks and Insurance, with the biggest losses coming in Autos and Basic Materials. On the macro side, in the US, the FHFA housing prices index for October rose in line with expectations. In China, the Caixin manufacturing PMI fell unexpectedly in December to 50.5 from the previous 51.5. On the geopolitical front, Russia has completely finalised gas transport through Ukrainian gas pipelines (5.0% of total gas imported) after the contract expiring in 2024 was not renewed.
What we expect for today
Stock markets would open with gains that should shrink following the negative opening in Asia and the rising energy costs. Currently, S&P futures are up +0.5% (the S&P 500 ended down -0.5% vs. the European closing bell). Asian markets are falling (China’s CSI 300 -1.0% and Japan’s Nikkei -2.4%).
Today in the euro zone and Spain we will learn December’s final manufacturing PMI and in the US weekly jobless claims and November’s construction spending.
IBERIAN DAILY 02 JANUARY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: N/A.Asia starts the year in the red
We said goodbye to a very positive year for stock markets (S&P 500 +23.3%, STOXX 600 +5.98% and IBEX +14.5%), with slight gains in Europe in a half-holiday session. In the STOXX 600, the best-performing sectors on the year were Banks and Insurance, with the biggest losses coming in Autos and Basic Materials. On the macro side, in the US, the FHFA housing prices index for October rose in line with expectations. In China, the Caixin manufacturing PMI fell unexpectedly in December to 50.5 from the previous 51.5. On the geopolitical front, Russia has completely finalised gas transport through Ukrainian gas pipelines (5.0% of total gas imported) after the contract expiring in 2024 was not renewed.
What we expect for today
Stock markets would open with gains that should shrink following the negative opening in Asia and the rising energy costs. Currently, S&P futures are up +0.5% (the S&P 500 ended down -0.5% vs. the European closing bell). Asian markets are falling (China’s CSI 300 -1.0% and Japan’s Nikkei -2.4%).
Today in the euro zone and Spain we will learn December’s final manufacturing PMI and in the US weekly jobless claims and November’s construction spending.
Provider
Sabadell
Research Department
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