Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
The close of the session on the last business day of the week was positive for European stock exchanges and for most sectors in a week marked by the easing of tensions between the US and its trading partners but also by the selling pressure that plagued the technology sector . The automakers were among the best performers, influenced by the good performance of Renault, fruit of the news of a possible merger with Nissan. The company did not comment on this. Among insurers, Swiss Re has gained 2.23%, with Reuters news that Japanese group Softbank is considering the acquisition of a 25% stake in the Swiss reinsurer. The technological companies, which in recent days have been in the spotlight, presented a gain around 0.50%. Also noteworthy for producers of raw materials that recovered from the losses recorded in the session on Wednesday.
Wall Street closed higher yesterday, with the tech sector recovering from recent losses. Of note are the earnings of Apple, Facebook, Netflix and Alphabet. In the macroeconomic field there were several economic indicators published today. On the labor market, the number of weekly applications reached 215,000, short of the 230,000 expected by economists. On the other hand, household income during the month of February increased in line with expectations (0.40%), as well as expenses that increased 0.20%. Consumer inflation, the preferred measure of the FED, stood at 1.80% a year in the same month, above the estimated 1.70%. The Chicago PMI economic activity index reached 57.40, compared to the expected 62.00, while the consumer confidence index, measured by the University of Michigan, also fell short of expectations (101.40 vs. 102.00).