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13 September 2022 -

4th Green Day | Walt Disney

US markets (S&P 500 Index + 1.0%) recorded its fourth consecutive positive session. Energy was the best performing sector, followed closely by Technology, but the rally occurred across was broad. Fortinet (+4.2%) and Apple (+3.9%) were among the top performing Technology stocks, the latter boosted by reports that the new iPhone 14 presales are better than expected. European markets (Stoxx 600 Index, +1.8%) continued last week’s momentum on Monday, rising above its 50-day moving average and booking its largest three-day rally in two months. 

12 September 2022 -

Week Ahead | Fonterra Upgrade

US markets (S&P 500 Index +1.5%) rose strongly to end the week on a positive note, as markets recovered from a three-week slide. All sectors were in the green, with heavily beaten down stocks making the strongest gains as the most-shorted names were the best performers. Docusign rose +10.5% after its earnings beat estimates, Kroger also jumped+7.4% after lifting its annual forecast.

9 September 2022 -

ECB Hikes | Kiwi Property Group

US markets (S&P 500 Index + 0.7%) closed higher on Thursday despite a Q&A session with Jerome Powell at the Cato Institute, where he reiterated that the Federal Reserve is not considering a change to the pace at which it will hike interest rates. With no change on the macro front, company specific news caused the biggest market moves. Rivian (+10.9%) shares surged after the company announced a partnership with Mercedes to build electric commercial vans in Europe. The leaking of a ‘turnaround plan’ memo from Snap (+9.3%) CEO Evan Spiegel helped the company post an almost double-digit gain.

8 September 2022 -

Markets Stabilize | Johnson & Johnson

US markets (S&P 500 Index +1.8%) have broken their 7-day losing streak, with every sector except energy (-1.2%) closing the session in the green. Utilities and Consumer Discretionary stocks led the pack, both rising 3.0% on the day. Oil stocks within the energy sector index were rocked by the fall in price of WTI Crude oil (-5.8%) over the past 24 hours. European markets (Stoxx 600 Index, -0.4%) fell on Wednesday, following declines in commodity stocks after data from China added to worries about a global economic slowdown. Shares in Ubisoft (UBI:EPA) tumbled 17.2% after investors lost faith that China’s Tencent (0700.HK) would conduct a full buyout of the company.

7 September 2022 -

Market Slide, RBA Hikes | Genesis

US markets (S&P 500 Index –0.4%) whipped between gains and losses but eventually closed lower in the first post-Labour Day session. The NASDAQ Index fell -0.7% marking its 7th daily decline in a row, on the back of ‘good’ economic news which translates badly for market sentiment at the moment. US services sector data came in stronger than expected for the month of August, implying the US economy is still in a strong position despite recent interest rate hikes, giving the Fed more room to hike rates further. Adding to the pessimism in stocks is the surge in bond yields. The yield on the 2-year U.S. Treasury jumped to a fresh daily high of 3.515% on Tuesday, almost touching the highs that occurred in 2007.

6 September 2022 -

Euro Gas Crisis | Sky TV

US markets (S&P 500 Index 0.0%) were closed on Monday in observance of Labor Day. However, US Futures (S&P 500 Index Futures +0.3%) are currently trading slightly higher in anticipation of Tuesday’s opening. European stocks weaker as energy crisis continues to dominate headlines (Stoxx 600 Index -0.6%) as euro gas futures jumped +15% while the Euro fell through 0.99 versus the US dollar for first time in 20 years. Russia’s Gazprom announced that they would be indefinitely halting gas flows to Europe via the Nord Stream 1. Putin’s spokesperson said there would be no resumption in gas supply until sanctions are lifted. The loss that was incurred in the Stoxx 600 could have been worse if not for the gains made in energy sector stocks (STOXX 600 Energy +2.2%). 

5 September 2022 -

Week Ahead | EBOS

US markets (S&P 500 Index -1.1%) fell on Friday, ending the week down -3.3% and marking its third weekly decline as a robust job report confirmed the recent market fears that the Fed would keep aggressively hiking interest rates. The ‘goldilocks’ nonfarm payrolls report showed some moderation in wage pressure and a surprise increase in the unemployment rate – August saw 315,000 new jobs created, a touch below 318,000 expected by the market. This saw the market increase the probability the Fed would raise its base interest rate by +75 basis points at its next meeting later this month. All sectors sold off for the day, except for energy. Tech shares were heavily hit again with the NASDAQ Index down -1.4% suffering its 6th consecutive daily loss.

2 September 2022 -

Mixed Moves |  Next DC

US markets (S&P 500 Index +0.3%) rose in the final hours of trade overnight., recovering from a loss and snapping up a four-day losing streak. Energy and tech shares were the only sectors in the red, with the NASDAQ Index down -0.3% logging its first 5-day losing streak since February. Chip maker Nvidia fell -7.7% after the US government announced it would need special government licenses to sell two of its advanced semiconductors to Chinese customers. European markets (Stoxx 600 Index, -1.8%) fell extending losses, with all sectors in the red, Travel and Leisure stocks leading the decline.

1 September 2022 -

Sell-Off Extends | Harvey Norman

US markets (S&P 500 Index -0.8%) fell for the fourth straight day on the last day of August. Wall Street markets moved approximately 4.0% lower over August, after scrubbing gains made in the first half of the month.  Markets are now under no illusion that the US Federal Reserve will not waiver in its commitment to raising rates at its current pace. The Feds sentiment seemingly holds regardless of whether the US is entering an official recession or not.  Technology stocks bucked the overall trend and helped the markets from registering an even larger loss. Meta booked a 3.7% gain, but was beat by two Chinese-based companies, Pinduoduo and Baidu, climbing 7.2% and 4.6%, respectively.