Global Market Weekly Report 12/14/2020
Tuesday , September 21 2021
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Global Market Weekly Report 12/14/2020

Optimism about imminent COVID-19 vaccine deployments pushed the stock markets in the US and Asia to record highs earlier this week, before sentiment turned cautious and left most markets down for the period. The change in investors’ confidence came primarily in response to concerns that US lawmakers would have no agreement on another stimulus bill and that negotiations between Britain and the European Union would also end without an agreement. However, several other factors contributed to the caution: tensions rose between the US and China, filing an antitrust lawsuit against Facebook Inc., an upsurge in applications for US unemployment benefits, and continuing coronavirus cases in the US and Canada Growth. .

The Bank of Canada held official interest rates stable at its policy meeting this week, as expected, and left its bond-buying program unchanged. While the tone of the bank’s statement was cautious, it reassured investors that interest rates would remain at historic declines until the economic recovery was “well,” or, in all likelihood, at least until 2023. A shot received, hopefully for recovery. With approval in Pfizer’s vaccines in Canada and limited rollout expected within days. Canada’s S&P / TSX Composite Index made a small profit and thus surpassed its falling US counterpart S&P 500 for the week. Oil prices climbed to a nine-month high as the energy sector moved forward and continued its climb in anticipation of a recovery in demand in the form of delivery of vaccines. The healthcare sector, led by cannabis companies, saw the biggest drop. Sector heavyweight Canopy Growth Corp surprised investors with the announcement that it was declining production, and closing operations at several facilities across the country.

After touching an all-time high on Tuesday, the S&P 500 ended the week with the ground leaving every region with energy, and communications services. The information technology sector had the most weight on the index .. Many mega-capitalization computer and internet companies sank after the US Federal Trade Commission, backed by a coalition of states, sued Facebook, Instagram and WhatsApp by the social media giant Sought to divide. The broader market sentiment diminished as Congress progressed on the stimulus deal, while jobless claims suggested trade restrictions slowed, and deaths in the US rose to more than 3,000 a day for the first time since COVID-19. Given the cautious trend, AirBnB Inc. and DoorDash Inc. had frenetic public debuts. Both much-awaited initial public offerings saw stock prices more than double on the first day of trading.

Markets in Asia and Europe were mostly down. Stocks in Hong Kong and Shanghai fell on such reports that the US would approve more Chinese officials recently due to the disqualification of Hong Kong legislators, and China reacted angrily to the sale of military equipment to Taiwan. Japanese stocks saw the biggest decline in machine orders and domestic expenses, lowering expectations and the government announced a new economic stimulus package. Slide in UK stocks was also relatively low as Britain became the first Western nation to introduce COVID-19 vaccination. However, despite the improvement in economic data and the expansion of emergency assistance programs of the European Central Bank, all major markets in continental Europe fell. Brexit negotiations once again failed to strike a deal, and now officials say this Sunday is the deadline for an agreement. As Inigo Montoya stated in The Princess Bride:

This weeks market closing values

EQUITY INDICESLevelChange1-weekYTD1-year5-year
CADCADCADCAD
S&P/TSX17,548.92+ 27.95+ 0.16%+ 2.85%+ 3.60%+ 6.53%
S&P 5003,663.46– 35.66– 1.17%+ 11.57%+ 12.91%+ 11.08%
DJIA30,046.37– 171.89– 0.77%+ 3.59%+ 4.24%+ 10.08%
FTSE 1006,546.75– 3.48– 2.08%– 14.84%– 11.79%– 2.35%
CAC 405,507.55– 101.60– 2.23%– 2.19%– 0.60%+ 4.39%
DAX13,114.30– 184.66– 1.81%+ 4.60%+ 5.52%+ 5.36%
Nikkei26,652.52– 98.72– 0.38%+ 15.42%+ 15.39%+ 8.40%
Hang Seng26,505.87– 330.05– 1.44%– 7.04%– 2.94%+ 2.78%

 

CURRENCY RETURNSCADChange1-weekYTD1-year5-year
US$1.2768– 0.0016– 0.13%– 1.71%– 3.08%– 1.48%
Euro1.5468– 0.0027– 0.17%+ 6.19%+ 5.50%+ 0.47%
Yen0.0123+ 0.0000+ 0.01%+ 2.62%+ 1.13%+ 1.54%

 

CANADIAN TREASURIESYieldChangeCOMMODITIESUSDChange
3-month0.12+ 0.00Oil$46.61+ $0.35
5-year0.44– 0.06Gold$1,839.20+ $0.34
10-year0.71– 0.09Natural Gas$2.45+ $0.00

What’s ahead next weeks:

Canada

  • Housing starts (November)
  • Manufacturing sales (October)
  • Consumer Price Index (November)
  • Retail sales (October)

U.S.

  • Federal Reserve interest rate decision (December 16)
  • Empire State Manufacturing Survey (December)
  • Import, Export Price Indices (November)
  • Industrial production, Capacity utilization (November)
  • Retail sales (November)
  • Markit Purchasing Managers’ Indices (December)
  • Housing starts, Building permits (November)
  • Conference Board Leading Index (November)
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About Dwipen Gogoi

Dwipen Gogoi, MBA (IB and IT) and PGDFT from Pune. (Technical Analyst of AliceBlue) I am a You Tuber, Blogger and doing Technical Analysis last 10 years in Stock, Commodity and Forex Market. i am creating various trading strategies for day traders, swing traders, scalp traders.

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