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At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 4Q’24 results to be released over the coming days in Spain.
Markets recover
European markets rallied, aided by recovery from the large US companies (the FANGs were up +5.1% at the European closing bell). In the STOXX 600, Retail and Travel & Leisure led the gains, whereas Basic Materials, Industrials and Autos were the only sectors to end in the red. On the macro side, in Spain the 4Q’24 unemployment rate was lower than expected (10.6%), with 468,000 jobs created. In the euro zone, the latest ECB credit survey showed tightening conditions for corporate and consumer loans, but with mortgages unchanged, whereas demand for corporate loans stagnated and mortgage demand rose. In Germany, the Govt. lowered the GDP’25-26 to 0.3% and 1.1% (vs. 1.1% and 1.6% previously), which raises the debt margin by € 2.1 Bn. In the US, December’s capital goods orders rose more than expected, ending a year of recovery. January’s Conference Board consumer confidence worsened unexpectedly and distanced itself from Nov’24 highs. In US business results, Invesco beat expectations, General Motors, Starbucks and Sysco were in line, and Boeing came in below expectations.
What we expect for today
Stock markets would open with gains of around +1.0%, with the technology sector seeing a good performance (following ASML’s good results) and awaiting the Fed’s message. Currently, S&P futures are flat (the S&P 500 ended +0.34% higher vs. the European closing bell). Asian markets are falling (China’s CSI 300 closed and Japan’s Nikkei +1.02%).
Today in Spain we will learn the 4Q’24 GDP and in the euro zone December’s M3. In US business results, T-Mobile, Meta (Facebook), Microsoft and Tesla, among others, will release their earnings.
IBERIAN DAILY 29 JANUARY + 4Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: N/A.At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 4Q’24 results to be released over the coming days in Spain.
Markets recover
European markets rallied, aided by recovery from the large US companies (the FANGs were up +5.1% at the European closing bell). In the STOXX 600, Retail and Travel & Leisure led the gains, whereas Basic Materials, Industrials and Autos were the only sectors to end in the red. On the macro side, in Spain the 4Q’24 unemployment rate was lower than expected (10.6%), with 468,000 jobs created. In the euro zone, the latest ECB credit survey showed tightening conditions for corporate and consumer loans, but with mortgages unchanged, whereas demand for corporate loans stagnated and mortgage demand rose. In Germany, the Govt. lowered the GDP’25-26 to 0.3% and 1.1% (vs. 1.1% and 1.6% previously), which raises the debt margin by € 2.1 Bn. In the US, December’s capital goods orders rose more than expected, ending a year of recovery. January’s Conference Board consumer confidence worsened unexpectedly and distanced itself from Nov’24 highs. In US business results, Invesco beat expectations, General Motors, Starbucks and Sysco were in line, and Boeing came in below expectations.
What we expect for today
Stock markets would open with gains of around +1.0%, with the technology sector seeing a good performance (following ASML’s good results) and awaiting the Fed’s message. Currently, S&P futures are flat (the S&P 500 ended +0.34% higher vs. the European closing bell). Asian markets are falling (China’s CSI 300 closed and Japan’s Nikkei +1.02%).
Today in Spain we will learn the 4Q’24 GDP and in the euro zone December’s M3. In US business results, T-Mobile, Meta (Facebook), Microsoft and Tesla, among others, will release their earnings.
Provider
Sabadell
Research Department
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