2024-01-24 08:08:57
Panels in the Madrid parquetAltea Tejido (EFE)
What does the Ibex 35 do?
Euro Stoxx 50 futures advance 0.6% and point to a higher opening in European stock markets. The Ibex 35 begins the session at 9,859.20 points, after Tuesday’s falls.
What do the rest of the stock markets do?
In Asia, the Nikkei fell 0.75% and the Shanghai index rose 0.17%. Yesterday the Wall Street indices closed with mixed results, with falls of 0.17% in the case of the Dow Jones and rise of 0.22% in the S&P 500.
Keys of the day
- European markets point to a positive opening, while the preliminary data of the purchasing managers’ index (PMI) of the euro zone for January is awaited, data from the services and manufacturing sector that experts consider relevant as an indicator of business activity in the euro zone.
- The first meeting of the year of the European Central Bank (ECB) this Thursday will focus investors’ attention on detecting any signs of a moderate change by the Governing Council. However, central bankers have made efforts in recent weeks to temper those expectations. Christine Lagarde told the World Economic Forum in Davos last week that the central bank is likely to cut rates in the summer.
- The markets are also attentive to the results season, which will begin on the Spanish stock market tomorrow, Thursday with Bankinter. In Europe today figures from two technology companies will be known, SAP and ASML.
- Yesterday, Netflix presented its accounts for the fourth quarter of 2023 in which it far exceeded the estimates of Wall Street analysts. The streaming company added 13.1 million subscribers, compared to the 9 estimated by experts.
What do the analysts say?
Charles Diebel, head of Fixed Income at Mediolanum International Funds, points out that those who expected a rate cut by the ECB in the first quarter of 2024 “could end up disappointed.” According to this analyst, the ECB “continues to focus on the data and, so far, these have not provided enough clarity to justify a rate cut.” This firm anticipates that the tone of this week’s meeting “will be stable and without significant changes.” However, although they do not foresee short-term rate cuts, they do anticipate “a series of cuts later this year.”
Jared Franz, an economist at Capital Group, says investors are getting “mixed signals about the direction of the economy.” However, with regard to contributions, “the parameter that is most relevant is the one that refers to business profits.” In the United States, markets predict an increase in the profits of the companies that make up the S&P 500 index of more than 11% in 2024, a high estimate in the opinion of this expert. “I don’t think it’s going to be a bad year for corporate profits,” he says, “but I think U.S. profit growth will be between 6% and 8% and probably higher in some.” emerging markets”.
What is the evolution of debt, currencies and raw materials?
The yield on the 10-year Spanish bond stands at 3.26%.
The price of a barrel of Brent is close to $80, specifically at $79.63.
The euro is trading at $1.0862.
Quotes
STOCK EXCHANGE – CURRENCIES – DEBT – INTEREST RATES – RAW MATERIALS
Follow all the information about Cinco Días in Facebook, X y Linkedinor nuestra newsletter Five Day Agenda
The Five Day Agenda
The most important economic quotes of the day, with the keys and context to understand their scope
receive it
#Ibex #live #Stock #Markets #point #pending #increases #PMI #results #Financial #markets