Election 2024

Key events: UK - Employment Change 3M/3M (MoM) (Sep) UK - Unemployment Rate (Sep) UK - BoE MPC Member Pill Speaks USA - Fed Waller Speaks USA - FOMC Member Kashkari Speaks The Dow continued its rally on Monday, closing above 44,000 for the first time amid strong momentum in the stock market. Investors are eagerly awaiting key inflation data and statements from several Federal Reserve officials that could impact the near-term outlook for economic policy.

Key events: UK - BoE Interest Rate Decision (Nov) USA - Initial Jobless Claims USA - FOMC Statement USA - Fed Interest Rate Decision USA - FOMC Press Conference On Wednesday, the Dow Jones Industrial Average reached new heights, posting its strongest gains since 2022 after Donald Trump’s election as the 47th President of the United States. His victory has invigorated optimism that pro-growth policies could further drive economic expansion, sparking a robust rally across major US stock indices.

Key events: USA - Crude Oil Inventories USA - 30-Year Bond Auction The S&P 500 surged on Election Day, Tuesday, driven by continued gains in the tech sector. The Dow Jones Industrial Average rose by 427 points, or 1%, while the S&P 500 increased by 1.2%, and the NASDAQ Composite gained 1.4%.

Key events: Australia - RBA Interest Rate Decision (Nov) USA - US Presidential Election USA - S&P Global Services PMI (Oct) USA - ISM Non-Manufacturing PMI (Oct) USA - ISM Non-Manufacturing Prices (Oct) USA - 10-Year Note Auction As the week kicked off, US markets took a cautious stance, with the S&P 500 ending Monday in the red. Investors are bracing for two major events: the presidential election on Tuesday and the Federal Reserve’s upcoming rate decision.

Key events: Eurozone - Eurogroup Meetings Eurozone - ECB's Elderson Speaks New Zealand - RBNZ Financial Stability Report The Dow Jones Industrial Average rose by nearly 300 points, or 0.71%, on Friday, driven by weaker-than-expected economic data that strengthened investor expectations for more easing from the Federal Reserve. Wall Street reversed course after Thursday's losses, staging a strong rally ahead of the weekend.

Key events: Canada - BoC Gov Macklem Speaks USA - CB Consumer Confidence (Oct) USA - JOLTS Job Openings (Sep) Canada - BoC Senior Deputy Governor Rogers Speaks Canada - BoC Gov Macklem Speaks The S&P 500 wrapped up Monday’s trading session with a gain, building on recent upward momentum as investors turn their focus to an eventful week ahead. Anticipation is high for significant economic data releases and quarterly earnings from leading tech giants.

Key events: Eurozone - ECB McCaul Speaks USA - Durable Goods Orders (MoM) (Sep) USA - Michigan Consumer Sentiment (Oct) On Thursday, the S&P 500 broke a three-day losing streak, driven by Tesla’s strong performance following its better-than-expected quarterly results. Tesla shares soared by 22%, marking its best single-day gain in over ten years, as investors responded positively to the company’s robust growth outlook.

Key events: USA - NY Fed 1-Year Consumer Inflation Expectations   UK - MPC Member Haskel Speaks USA - Consumer Credit (May) On Friday, the Dow Jones Industrial Average experienced notable fluctuations, hovering around the 39,300 level. This volatility was driven by US nonfarm payrolls data, which reignited hopes for potential rate cuts. Despite the broader US equity market climbing on renewed expectations of a Federal Reserve rate reduction, the Dow Jones remained stuck in a technical consolidation phase.

Key events: USA - Average Hourly Earnings (MoM) (Jun) USA - Nonfarm Payrolls (Jun) USA - Unemployment Rate (Jun) USA - Fed Monetary Policy Report European shares rose on Thursday, driven by hopes for potential US interest rate cuts following weak economic data. Simultaneously, London's markets surged as voting commenced in the UK general election, with polls indicating a historic Labour Party victory.