*Global markets regain momentum, performance of large technology companies takes center stage.
πΊπΈ S&P 500: 0.87% π
πΊπΈ Nasdaq: 1.11% π
πͺπΊ Stoxx 600: 0.76% π
π―π΅ Nikkei 225 Index: 1.00% π
ππ° Hang Seng Index: 1.77% π
π¨π³ CSI 300 Index: -0.29% π
* U.S. markets were generally higher on Monday, with the S&P 500 and Nasdaq Composite rising 0.9% and 1.1% respectively, as investors will focus on quarterly results from major companies this week, which will provide a glimpse into the health of the U.S. economy situation.
* Asia-Pacific stocks ended mixed, with the CSI 300 down -0.3 and the Hang Seng up 1.8%, as investors were rattled by reports of an Israeli missile attack on Iran and rising tensions in the Middle East sparked a scramble for safe-haven assets.
* China kept its one-year and five-year loan prime rates (LPR) unchanged at 3.45% and 3.95% on Monday, in line with market expectations.
π‘ Future events: π‘
* Japan, the European Union, and the United States are expected to release preview manufacturing PMI data, The European Union and the United States are also expected to release preview service sector PMI data, and U.S. new home sales will be released on Tuesday.
* On Thursday we will release US unemployment claims and merchandise trade levels.
π‘ Things you need to know today: π‘
1. CVC Capital Partners announced on Monday that it is targeting a market capitalization of β¬13 billion to β¬15 billion for its upcoming initial public offering (IPO).
CVC Capital Partners
2. China's fiscal revenue fell 2.3% year-on-year in the first quarter, which was attributed to special factors such as the impact of past tax cuts.
3. The Federal Trade Commission filed a lawsuit to block Coach parent company Tapestry's $8.5 billion acquisition of Michael Kors owner Capri because it would eliminate direct competition between the luxury handbag maker's flagship brands. $Tapestry Inc.(TPR)$
Tapestry
4. Verizon on Monday reported lower-than-expected wireless subscriber losses and a better-than-expected quarterly profit. $Verizon(VZ)$
Verizon
β KEY TAKEAWAYS:
Investors are looking forward to big earnings releases this week while also worrying whether the Federal Reserve will delay cutting interest rates.
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Comments
Based on the market highlights for April 23, 2024:
Global markets regained momentum, with the S&P 500, Nasdaq, Stoxx 600, Nikkei 225, and Hang Seng Index all posting gains. However, the CSI 300 Index in China experienced a slight decline.
In the US, the S&P 500 and Nasdaq Composite rose by 0.9% and 1.1% respectively. Investors are focusing on quarterly results from major companies, which will provide insights into the health of the US economy.
Asia-Pacific stocks ended mixed, with the CSI 300 down by 0.3% and the Hang Seng up by 1.8%. Reports of an Israeli missile attack on Iran and rising tensions in the Middle East led to a scramble for safe-haven assets.
China maintained its one-year and five-year loan prime rates (LPR) at 3.45% and 3.95% respectively, in line with market expectations.
Future events to watch:
Japan, the European Union, and the United States are expected to release preview manufacturing PMI data. The European Union and the United States will also release preview service sector PMI data. Additionally, US new home sales data will be released on Tuesday.
On Thursday, US unemployment claims and merchandise trade levels will be released.
Key things to know:
CVC Capital Partners is targeting a market capitalization of β¬13 billion to β¬15 billion for its upcoming IPO.
China's fiscal revenue fell by 2.3% year-on-year in the first quarter, attributed to special factors such as the impact of past tax cuts.
The Federal Trade Commission has filed a lawsuit to block Coach parent company Tapestry's $8.5 billion acquisition of Michael Kors owner Capri, citing concerns about eliminating direct competition between luxury handbag brands.
Verizon reported lower-than-expected wireless subscriber losses and a better-than-expected quarterly profit.
Investors are eagerly anticipating major earnings releases this week while also monitoring the possibility of the Federal Reserve delaying interest rate cuts.
Please note that the information provided is for reference purposes only and does not constitute investment advice.