Posts Tagged ‘equity markets’

Week in Review: U.S. Tech Pullback

The technology-heavy Nasdaq 100 Index is off nearly 11% from its recent high, the index closed under its 50-day moving average for the first time in 105 days as technology stocks experienced their worst pullback since March. Facebook and Amazon each lost more than 5% over the week while Apple and Netflix slid 7.4% and…

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Week in Review: Technology Stocks Take a Breather

After an exceptionally strong August month that saw major stock market indices including the S&P 500 and Nasdaq achieve new highs, some volatility returned to markets this week, largely driven by some profit taking in technology companies. As discussed in last week’s newsletter,  much of the performance in U.S. stock markets year-to-date has been driven…

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Week in Review: SA moves to Level 2 Lockdown

As infections in the most populous provinces continued to decline over the week (just below 5,000 a day), as expected President Cyril Ramaphosa removed most of the Covid-19 lockdown restrictions on Saturday night. Level 2 takes effect from midnight tomorrow, when restrictions on alcohol, cigarettes, interprovincial travel and personal and family visits will largely fall…

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Week in Review: Chinese Second Quarter GDP Rebounds

China’s GDP grew a better-than-expected 3.2% in the second quarter of this year, reversing a historic 6.8% contraction in the first quarter. Economists polled by Reuters expected China’s gross domestic product to have grown at 2.5% in the April to June quarter. With many firms still operating below capacity some analysts questioned the official growth…

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Week in Review: Second-Half Outlook

Having crossed the halfway mark of 2020, the “rear-view mirror” will record the first six months of 2020 as one of the most fascinating and volatile periods for financial markets on record. With global equities having bottomed on the 23rd of March, the rebound witnessed in the 2nd quarter has been one of the sharpest…

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Week in Review: Minister Mboweni Delivers a Grim Assessment of SA’s Finances

On Wednesday, South African Finance Minister Tito Mboweni delivered a grim assessment of the nation’s finances in a special Supplementary Budget Review (SBR) that forecasts a deep South African recession and plunging tax revenues as a result of the Covid-19 outbreak and subsequent lockdown measures. Gross domestic product (GDP) is forecast to shrink by 7.2%…

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Week in Review: Crude Oil Plunges

U.S. crude futures dived into negative territory for the first time in history this week amid concerns that there is not enough global storage for a market decimated by collapsing demand amid widespread lockdowns and travel bans due to the coronavirus pandemic. Brent Crude finished the week down more than 20% as demand destruction from…

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Week in Review: Markets Shrug Off Weak Data

Major indexes were mostly stronger this week, as investors weighed record downturns in economic data against hopes that progress in containing the coronavirus pandemic may soon result in the partial reopening of economies. Investors cheered early indications that coronavirus infection rates may be peaking in Europe and the U.S. along with announcements that governments are…

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Week in Review: Central Banks Respond to the Coronavirus Outbreak

Major stock market indexes ended the week mixed as extraordinary volatility driven by COVID-19 fears continues. Possible policy responses from the U.S. and other governments to the COVID-19 outbreak took centre stage this week. G-7 finance ministers and central-bank governors met on Tuesday, pledging to use “all appropriate policy tools” to safeguard the global economy…

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Week in Review: President Ramaphosa delivers SONA 2020

Global attention remained on the coronavirus outbreak as the number of confirmed cases rose and China’s factories try to reopen. Equities were mostly stronger for a second straight week while bond yields stayed unchanged, a sign that investors are cautiously optimistic. In the U.S., Federal Reserve (Fed) Chair, Jerome Powell’s commentary took centre stage, where…

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