Market Insights

Market Information Tuesday 29 October 2024

US stocks surged on Monday as Middle East tensions eased. The Nasdaq rose 0.5%, the S&P 500 climbed 0.4%, and the Dow added 300 points. Key focus areas include Big Tech earnings from Alphabet, Apple, Amazon, Microsoft, and Meta, with investors scrutinizing whether AI investments are translating to profits. Additionally, crucial economic data on inflation and jobs could influence the Federal Reserve’s interest rate decisions at their upcoming meeting.

European markets advanced on Monday as geopolitical tensions in the Middle East cooled. The pan-European Stoxx 600 rose 0.47%, with gains in media and construction sectors, while oil and gas stocks diminished. Philips suffered a 17% drop in share value due to decreased demand from China. In Japan, the Nikkei 225 and Topix indexes climbed, helped by a depreciating yen.

Bitcoin-related stocks rallied on Monday as the cryptocurrency approached $70,000. Coinbase’s shares jumped 4%, while MicroStrategy rose over 5%. Bitcoin miners Mara Holdings and Riot Platforms saw gains of 6% and 5%, respectively. With quarterly earnings reports and the US presidential election approaching, Bitcoin enthusiasts are hopeful for new highs.

The 6M Euribor decreased with 3 basis points to 2.89% compared to previous business day. The 10Y Swap decreased with 1 basis point to 2.40% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.

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