Report
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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 3Q’24 results to be released over the coming days in Spain.
Euro STOXX 50’s 4,820-point level at risk
European stock markets fell again amid doubts about the earnings calendar, inflation signs “resisting” more than expected and the imminence of the US elections. In the STOXX 600, all the sectors ended with drops for the second consecutive session, with Energy and Banks being the best performers, whereas Retail and Technology ended with the biggest losses. On the macro side, in the euro zone, October’s general inflation rose to 2.0% YoY, with the core data remaining at 2.7%. In the US weekly jobless claims dropped more than expected, September’s real personal outlays rose more than expected and the core personal consumption deflator was in line with expectations. In China, Caixin manufacturing PMI climbed above expectations, returning to levels consistent with expansion. In US business results, Uber, Amazon, Merck&Co, ConocoPhillips and Estee Lauder beat expectations, Apple y Mastercard were in line.
What we expect for today
Stock markets would open with slight gains after yesterday’s corrections. Currently, S&P futures are up +0.2% (the S&P 500 ended -0.5% lower vs. the European closing bell). Asian markets are mixed (China’s CSI 300 +0.1%, Japan’s Nikkei -2.60 %).
Today in the US we will learn October’s non-farm job creation, unemployment rate, wage gains and manufacturing ISM. In US business results, Exxon Mobil, Chevron and Dominion Energy, among others, will release their earnings.
IBERIAN DAILY 01 NOVEMBER + 3Q'24 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ELECTRICITY SECTOR.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 3Q’24 results to be released over the coming days in Spain.
Euro STOXX 50’s 4,820-point level at risk
European stock markets fell again amid doubts about the earnings calendar, inflation signs “resisting” more than expected and the imminence of the US elections. In the STOXX 600, all the sectors ended with drops for the second consecutive session, with Energy and Banks being the best performers, whereas Retail and Technology ended with the biggest losses. On the macro side, in the euro zone, October’s general inflation rose to 2.0% YoY, with the core data remaining at 2.7%. In the US weekly jobless claims dropped more than expected, September’s real personal outlays rose more than expected and the core personal consumption deflator was in line with expectations. In China, Caixin manufacturing PMI climbed above expectations, returning to levels consistent with expansion. In US business results, Uber, Amazon, Merck&Co, ConocoPhillips and Estee Lauder beat expectations, Apple y Mastercard were in line.
What we expect for today
Stock markets would open with slight gains after yesterday’s corrections. Currently, S&P futures are up +0.2% (the S&P 500 ended -0.5% lower vs. the European closing bell). Asian markets are mixed (China’s CSI 300 +0.1%, Japan’s Nikkei -2.60 %).
Today in the US we will learn October’s non-farm job creation, unemployment rate, wage gains and manufacturing ISM. In US business results, Exxon Mobil, Chevron and Dominion Energy, among others, will release their earnings.
Underlying
Red Electrica Corp. S.A.
Provider
Sabadell
Research Department
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