Report
EUR 100.00
For Business Accounts Only
Correction before the year-end
Despite there being no clear drivers, both European and US stock markets posted losses, with volumes remaining low once again. In the STOXX 600, only Energy and Banks avoided losses, with the biggest drops coming in Technology and Media. On the macro side, in Spain December’s inflation was a negative surprise, rising to 2.8% YoY (high since July), with the core figure also rising more than expected to 2.6% YoY. From the ECB, R. Holzmann said rising inflation could delay the next rate cuts to be made. In the US, November’s pending home sales rose more than expected for the fourth straight month. December’s Chicago PMI fell unexpectedly. In China, the PMIs remained above the growth zone, with the services component rising sharply and the manufacturing component falling slightly more than expected.
What we expect for today
Stock markets would open with drops following the poor performance yesterday by US stock markets. Currently, S&P futures are down -0.1% (the S&P 500 ended flat vs. the European closing bell). Asian markets are falling (China’s CSI 300 -1.16% and Japan’s Nikkei closed for the new year).
Today in the US we will learn FHFA housing prices.
IBERIAN DAILY 31 DECEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: N/A.Correction before the year-end
Despite there being no clear drivers, both European and US stock markets posted losses, with volumes remaining low once again. In the STOXX 600, only Energy and Banks avoided losses, with the biggest drops coming in Technology and Media. On the macro side, in Spain December’s inflation was a negative surprise, rising to 2.8% YoY (high since July), with the core figure also rising more than expected to 2.6% YoY. From the ECB, R. Holzmann said rising inflation could delay the next rate cuts to be made. In the US, November’s pending home sales rose more than expected for the fourth straight month. December’s Chicago PMI fell unexpectedly. In China, the PMIs remained above the growth zone, with the services component rising sharply and the manufacturing component falling slightly more than expected.
What we expect for today
Stock markets would open with drops following the poor performance yesterday by US stock markets. Currently, S&P futures are down -0.1% (the S&P 500 ended flat vs. the European closing bell). Asian markets are falling (China’s CSI 300 -1.16% and Japan’s Nikkei closed for the new year).
Today in the US we will learn FHFA housing prices.
Provider
Sabadell
Research Department
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