A day after major US tech giants’ shares took a hit, the world’s stock markets shook on Friday as investors readied themselves for a week of interest rate decisions.
According to Channels News, after a choppy day on the European and Asian stock exchanges, Wall Street ended the week with little movement.
For the first time since 2017, the Dow Jones Industrial Average managed a meager gain to advance for the 10th straight session.
However, the Nasdaq fell once more, but with a far lower loss than on Thursday.
According to reports, both Tesla and Netflix were “priced for perfection” and faltered after releasing earnings that were below expectations. He cited Johnson & Johnson as a business that outperformed expectations in part because of a lower valuation.
The Federal Reserve policy meeting is on the schedule for the following week in addition to profits.
Although an increase in interest rates is largely anticipated from the Fed, Hogan warned that the market might be “disrupted” if the institution adopts a more hawkish stance than anticipated.
“Investors do not anticipate another rate increase from the Fed in September,” he said.
The Bank of Japan and the European Central Bank will both meet to discuss monetary policy the following week.
As a result of statistics showing that Japanese inflation accelerated in June, which some believed would increase pressure on the Bank of Japan to tighten policy, the yen had a temporary rally versus the dollar on currency markets.
The yen later dropped more than 1%, meanwhile, as analysts predicted that the data would not convince monetary authorities to abandon their ultra-loose approach.
Following recent dovish remarks by governor Kazuo Ueda, the central bank is anticipated to remain unchanged at its meeting the following week.
– Key figures around 2115 GMT –
New York – Dow: UP less than 0.1 percent at 35,227.69 (close)
New York – S&P 500: less than 0.1 percent at 4,536.34 (close)
New York – Nasdaq: DOWN 0.2 percent at 14,032.81 (close)
London – FTSE 100: UP 0.2 percent at 7,663.73 (close)
Frankfurt – DAX: DOWN 0.2 percent at 16,177.22 (close)
Paris – CAC 40: UP 0.7 percent at 7,432.77 (close)
EURO STOXX 50: UP 0.4 percent at 4,391.41 (close)
Tokyo – Nikkei 225: DOWN 0.6 percent at 32,304.25 (close)
Hong Kong – Hang Seng Index: UP 0.8 percent at 19,075.26 (close)
Shanghai – Composite: DOWN 0.1 percent at 3,167.75 (close)
Euro/dollar: UP at $1.1131 from $1.1130 on Thursday
Pound/dollar: DOWN at $1.2852 from $1.2868
Euro/pound: UP at 86.56 pence from 86.50 pence
Dollar/yen: UP at 141.77 yen from 140.07 yen
Brent North Sea crude: UP 1.8 percent at $81.07 per barrel
West Texas Intermediate: UP 1.9 percent at $77.07 per barrel
