After a disappointing start to the week, the stock markets have regained their footing. After the EuroStoxx 50 slipped to its lowest level in two months on Monday amid growing concerns that the rapid spread of the delta variant could bring renewed lockdowns, the European equity benchmark gained +0.71% to 3'956.34 points on Tuesday. In New York, indices followed the recovery and the Dow Jones Industrial closed +1.62% higher at 34'511.99 points. The S&P 500 also corrected much of its previous day's loss and ended yesterday's trading session with a gain of +1.52% at 4'323.06 points. On the technology exchange Nasdaq, it went up by about +1.2%. A grain of salt delivered Netflix after the market close. The streaming service was able to attract so few new users with its series and films in the second quarter as never before in a quarter and disappointed analysts' expectations.
In Asia, stock indices also joined the positive guidance and the majority are trading higher this morning. The focus continues to be on the quarterly financial statements of listed companies. Today, for example, with Novartis, Daimler, SAP, or Johnson & Johnson.
Japanese exports continued their recovery from the corona shock last year with a lot of momentum. Thanks to strong export figures from the auto industry and chip manufacturers, exports increased by +48.6% year-on-year in June. Already in May, Japanese exports had increased by almost +50%, showing the strongest growth since 1980. Compared to the previous month, exports increased by +2.4%.
Developments on the housing market in the US were mixed in June. While the number of new housing starts increased more strongly than analysts had expected, the number of building permits surprisingly declined. Housing starts increased by +6.3% on a monthly basis, while an increase of +1.2% had been expected on average. In contrast, building permits, which are more meaningful for future construction activity, fell by -5.1% in June (consensus +0.7%) to an eight-month low. This follows a -2.9% month-on-month decline in building permits in May.
A sharp rise in prices at producer level highlights the price pressure in Germany. In June, producer prices rose +8.5% on an annual basis, the strongest increase since 1982. Compared to the previous month, prices increased by +1.3%, driven by the price development of intermediate goods (+12.7% year-on-year) and energy (+16.9%) , the statistics office explained.
|01:50||JP||Exports (June, y/y)||+49.6%|
|01:50||JP||Imports (June, y/y)||+27.9%|
|US||Johnson & Johnson||Q2|
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