In early trading during the European session, markets have shown a mixed performance. The FTSE 100 has gained 7.32 points, or 0.09%, trading at 8,276.92. Meanwhile, the DAX 40 is up by 54 points, or 0.29%, at 18,644.95. The CAC 40 in France is slightly down, losing 10.75 points, or 0.14%, to trade at 7,490.22. The Euro Stoxx 50 is showing modest gains, up 1.97 points, or 0.04%, at 4,850.15. Spain’s IBEX 35 has risen by 12.70 points, or 0.11%, to 10,545.55, while Italy’s FTSE MIB is seeing stronger gains, up 56.74 points, or 0.17%, trading at 33,739.00.
During the trading session on September 4, 2024, the major U.S. indices closed with mixed results. The Dow Jones Industrial Average managed to edge up by 38.04 points, or 0.09%, closing at 40,975. The index experienced fluctuations throughout the day, with a mid-morning peak followed by a dip in the afternoon before recovering slightly towards the end of the session.
The Nasdaq Composite had a tougher day, declining by 52.00 points, or 0.30%, to close at 17,084.3. The index saw a strong start in the morning but gradually lost ground as the day progressed, closing near its lows for the session.
The S&P 500 also closed lower, down by 8.86 points, or 0.16%, ending the day at 5,520.07. Similar to the Nasdaq, the S&P 500 reached its peak in the late morning but declined steadily throughout the afternoon, with a slight recovery attempt towards the close, though it still ended in negative territory.
Meanwhile, Japan’s Nikkei 225 saw a significant decline, dropping 395.50 points, or 1.07%, to close at 36,649.00. Hong Kong’s Hang Seng index also experienced a loss, falling by 43.34 points, or 0.25%, to end the session at 17,414.00.
Overall, the session reflected a cautious market sentiment with mixed performance across the major indices. This cautious approach is happening in Europe as the financial community is waiting for some relevant economic data for today.
The EUR events begin with the release of Factory Orders s.a. (MoM) for July at 06:00 GMT, which saw an increase of 2.9%, higher than the previous 2.52%. Factory Orders n.s.a. (YoY) for July, also released at 06:00 GMT, reported a drop of -11.2%. Retail Sales (YoY) for July will be released at 09:00 GMT, where the consensus expected a decline of -0.3%, but the actual figure came in at -0.1%. Retail Sales (MoM) for July, reported at the same time, had a consensus expectation of -0.3%, with the actual figure coming in at 0.1%.
US events: At 12:30 GMT, the Initial Jobless Claims for August 30 will be released, with the consensus expecting 231K and the actual figure coming in at 230K. Nonfarm Productivity for Q2 is also due at 12:30 GMT, with both the previous and consensus figures at 2.3%. At the same time, Unit Labor Costs for Q2, previously at 0.9%, will be reported. Later in the day, at 13:45 GMT, the S&P Global Composite PMI for August will be released, with a previous reading of 54.1. The ISM Services data will follow at 14:00 GMT, including the Employment Index (previously 51.1), New Orders Index (previously 52.4), PMI (previously 52.7), and Prices Paid Index (previously 57).
In the Netherlands, ING Groep has shown a small increase of 0.34%, trading at 16.14. Philips is slightly down by 0.07%, with shares priced at 26.99.
Germany’s market has seen mixed movements. Stellantis NV has slipped by 0.34%, trading at 14.44. BASF is up by 0.15%, trading at 44.585, while Bayer has gained 0.57%, trading at 28.05. Allianz is performing well with a rise of 0.80%, now at 283.15. Adidas has dropped by 0.49% to 223.40, and Siemens AG has inched up by 0.34% to 167.28. Deutsche Post remains flat at 39.190. Mercedes Benz Group has risen by 0.59%, trading at 60.245, and Deutsche Boerse is up by 0.44% to 204.60.
French stocks are mixed as well, with BNP Paribas gaining 0.60% to 62.29. However, EssilorLuxottica has declined by 0.66%, trading at 212.30.
In Spain, BBVA is slightly up by 0.27%, trading at 9.070, while Santander has risen by 1.10% to 4.4025.
Italian equities are also performing well, with Intesa Sanpaolo up by 0.24% at 3.7230, Enel gaining 1.08% to trade at 6.956, and Eni SpA up by 0.28% at 14.204.
The MSCI World Index is slightly down by 0.02%, trading at 3,579.39.
In the Forex market, the EUR/USD pair is trading slightly higher at 1.1083, up by 0.01%. The USD/JPY has dipped to 143.64, down by 0.06%. The GBP/USD remains unchanged at 1.3145. In the cryptocurrency market, Bitcoin (BTC/USD) is showing modest gains, up by 79.00 points or 0.14%, currently trading at 57,180.00.
In the bond market, U.S. Treasury yields are down across the board. The 5-Year Treasury yield has fallen by 0.09 points, a 2.46% decrease, now at 3.566%. The 10-Year Treasury yield is down by 0.076 points, a 1.98% decrease, to 3.768%. The 30-Year Treasury yield has declined by 0.064 points, or 1.55%, to 4.067%. This suggests a shift towards lower yields, reflecting possibly increased demand for safer assets or concerns over economic growth.
In the futures market, Crude Oil is trading higher at 69.56, up by 0.36 points or 0.52%. Natural Gas is slightly down, trading at 2.1350, a decrease of 0.0100 points or 0.47%. Gold futures are showing gains, up by 9.80 points or 0.39%, currently at 2535.80. The major equity index futures are also in the green, with the Dow up by 61.00 points or 0.15%, trading at 41112.00. The S&P 500 futures have risen by 9.00 points or 0.16%, standing at 5539.00. Nasdaq 100 futures are up by 27.50 points or 0.15%, trading at 18900.00, while the Russell 2000 futures are nearly flat but slightly positive at 2150.00, up by 0.20 points or 0.01%.
