Report
EUR 100.00
For Business Accounts Only
D. Trump generates market panic
Following D. Trump’s announcements the statements made by the president U. Von der Leyen suggesting a joint European response with “immense” consequences that will generate suffering to the global economy did not help markets, which saw generalised drops, particularly in the US (S&P 500 -4.8%, Nasdaq -6.0%) and Europe (Euro STOXX 50 -3,6%, CAC -3,3%, DAX -2,9%). Thus, in the STOXX 600, defensive stocks and bond proxies, led by Utilities and Real Estate, avoided the corrections. However, financials (banks) and cyclical sectors such as Energy (with Brent crude falling -7% during the session) and Basic Resources, followed by Technology and Consumer Goods saw the biggest drops. On the macro side, in the euro zone, March’s final services PMI was raised above February’s levels (due to Germany and France). In the US, March’s non-manufacturing ISM deteriorated much more than expected and slightly above levels consistent with activity slowdown whereas Challenger Layoffs climbed significantly in March, suggesting a substantial increase in weekly jobless claims vs the data released yesterday that fell unexpectedly.
What we expect for today
Stock markets would open with drops of as much as -0.5%, with defensive stocks and bond proxies benefiting from the new tightening of debt yields. Currently, S&P futures are down -0.6% (the S&P 500 ended -1.1% lower vs. the European closing bell). Asian markets are sliding (China’s CSI 300 is closed and Japan’s Nikkei -3.7%).
Today in the US we will learn March’s non-farm job creation, wage gains and unemployment rate and in Spain February’s industrial output.
IBERIAN DAILY 04 APRIL (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: N/A.D. Trump generates market panic
Following D. Trump’s announcements the statements made by the president U. Von der Leyen suggesting a joint European response with “immense” consequences that will generate suffering to the global economy did not help markets, which saw generalised drops, particularly in the US (S&P 500 -4.8%, Nasdaq -6.0%) and Europe (Euro STOXX 50 -3,6%, CAC -3,3%, DAX -2,9%). Thus, in the STOXX 600, defensive stocks and bond proxies, led by Utilities and Real Estate, avoided the corrections. However, financials (banks) and cyclical sectors such as Energy (with Brent crude falling -7% during the session) and Basic Resources, followed by Technology and Consumer Goods saw the biggest drops. On the macro side, in the euro zone, March’s final services PMI was raised above February’s levels (due to Germany and France). In the US, March’s non-manufacturing ISM deteriorated much more than expected and slightly above levels consistent with activity slowdown whereas Challenger Layoffs climbed significantly in March, suggesting a substantial increase in weekly jobless claims vs the data released yesterday that fell unexpectedly.
What we expect for today
Stock markets would open with drops of as much as -0.5%, with defensive stocks and bond proxies benefiting from the new tightening of debt yields. Currently, S&P futures are down -0.6% (the S&P 500 ended -1.1% lower vs. the European closing bell). Asian markets are sliding (China’s CSI 300 is closed and Japan’s Nikkei -3.7%).
Today in the US we will learn March’s non-farm job creation, wage gains and unemployment rate and in Spain February’s industrial output.
Provider
Sabadell
Research Department
Other Reports from Sabadell
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.