On the New York Stock Exchange, the Dow Jones Industrial closed at 35'603.08 points (-0.02%) virtually unchanged from the previous day, when the benchmark index had still left behind the previous high of mid-August. Disappointing quarterly figures from IBM and rising yields in the bond market dampened the mood somewhat and weighed on the index. The yield on the futures contract of ten-year US government bonds reached its highest level in five months on Thursday. Nevertheless, the broad S&P 500 reached a record high in the meantime and left the day's trading at 4'549.78 points +0.3% higher. On the Nasdaq, the indices rose by about +0.7%, driven by gains in Netflix and Tesla.
In Asia, the Chinese real estate developer Evergrande was once again in the spotlight. After the company, which is in payment difficulties, was able to meet an interest payment, the worries have eased somewhat, which provided some confidence, especially on China's stock exchanges.
Weekly initial claims for unemployment insurance fell slightly in the week ending October 16. Compared with the previous week, the number of claims fell by 6'000 to 290'000 claims, the lowest level since mid-March 2020. The more meaningful four-week moving average decreased by about 15'000 to 319'750 applications on a weekly basis. That left 2.481 million Americans receiving unemployment benefits as of October 9, 122'000 fewer than the week before.
The Federal Reserve's regional industrial activity barometer for the US East Coast metropolis of Philadelphia hinted at a moderate slowdown. The so-called Philly Fed indicator fell back to 23.8 points from 30.7 points in August, but still signals a growth trend with a value above zero.
Turkey's central bank has eased its key interest rate from 18% to 16% despite an inflation rate of almost 20%. The unexpectedly drastic interest rate move is likely due to constant criticism from President Recep Tayyip Erdogan. As a result, the Turkish lira came under considerable pressure and fell to record lows against the Euro and the US dollar.
|09:15||FR||IHS Markit PMI Composite (October)||55.3|
|09.30||GE||IHS Markit PMI Composite (October)||55.5|
|10:00||EZ||IHS Markit PMI Composite (October)||56.2|
|10:30||UK||IHS Markit PMI Composite (October)||54.9|
|12:00||EU||State and Government heads meeting|
|15:45||US||IHS Markit PMI Composite (October)||55.0|
|FR||Remy Cointreau||Q3 Sales|
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Source: LGT Bank (Switzerland) Ltd.
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