February 24, 2024 1:29 pm
J.P. Morgan Predicts Cooling Stock Markets in Europe

The latest trading day in Europe saw a mixed trend, with the British FTSE falling by 0.3%, while the DAX and KAC opened unchanged. In Asia, the stock exchanges of China, Hong Kong, and South Korea were closed for Chinese New Year, with the Japanese market also shut down for “National Day”. Wall Street futures were trading in a mixed trend with minimal changes last Friday, as the S&P 500 rose by about 0.6% and closed above 5,000 points for the first time.

In the American debt market, government bonds traded in a mixed trend at the end of the week, with yields on 10-year bonds decreasing slightly to around 4.17%. In commodity and currency markets, American oil traded at $76.5 per barrel while Brent oil was trading at $81.7. Cryptocurrencies soared last weekend as Bitcoin hit $48,100 per coin and Ethereum reached $2,500.

The week ahead is expected to bring new data in global macroeconomic news including unemployment data in Great Britain, consumer price indexes in Switzerland and the USA GDP figures in Eurozone and Japan as well as unemployment data in Australia and retail sales in US. Analysts have different opinions on the market with some warning of correction risk while others are optimistic about small companies as an investment opportunity.

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