The mood has deteriorated, and the US stock markets have also turned around

At the end of September

“The garden flowers are still opening in the valley, the poplar is still green in front of the window “- but unlike Petőfi ‘s poem, the end of September is neither rosy nor green in the markets, but rather red. With Dow Jones falling 1.6% today, it fell above 4% in September, and the same is true for the S&P 500 (which fell for the first time since January on a monthly basis) that fell 1.2% today. The Nasdaq also turned around, down 0.4% from yesterday’s closing. Maybe investors are already paying more attention to the snow-covered tenancy roof? with the announcement of erome Powell ), the near-bankruptcy of China’s largest real estate developer, energy and raw material shortages, China’s slowdown, the threat of US state bankruptcy – in short, investors had cause for concern (and perhaps justify the downturn) the former, perhaps too good, mood, which had to end once.)

And today the good news has not been saved either: the law providing for the financing of the government has passed through the Senate. Of course, the parties are also debating tax increases, and inflation concerns have not eased.

  • The Dow Jones at 33,843 points (-1.6%),
  • The S&P 500 index at 4307 points (-1.2%) ,
  • The Nasdaq finished the day and September at 14,448 points (-0.4%).

Still minus US indices

The expected Senate deal has not given the markets enough momentum either, with Boeing and Goldman Sachs continuing to pull down the Dow Jones index, which is still around 1%. The S&P 500 also shows a decline, but to a much lesser extent: it fell by half a percent. The Nasdaq, on the other hand, turned positive, up 0.2%. There is no big shift in US bond yields compared to yesterday.

European stock exchanges closed in minus

The German inflation figure hit European stock markets and the bad mood persisted until closing. DAX closed at 0.7% minus, 15,260 points, CAC40 fell 0.6%, closing at 6,520 points. The FTSE 100 in London also ended the day in minus, the closing level of 7086 points is a 0.3% drop, the FTSE MIB in Milan fell 0.2%, closing at 25 638 points.

Mood isn’t better in America either, with the Dow down 0.9% and the S&P 500 down 0.6%. The Nasdaq is stagnant around yesterday’s level, with oil prices rising by around 1%.

Energy prices have gone down, a wave of bankruptcies could occur

There has been a global energy crisis in recent weeks, with several major energy sources and electricity prices rising sharply, rising to Europe and affecting several products, including natural gas, oil and gas. , coal and electricity prices have also gone down. Gergely Szabó spoke today about how we got here and what risks the price increase may entail, outlined some solutions for companies to deal with the situation.

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The Hungarian stock exchange rallied today

The Hungarian stock exchange closed with a rise, the BUX rose 1.6 percent. Domestic blue chips, without exception, closed positive, OTP rose 2.4 percent, while Mol rose 1.8 percent, Richter strengthened 0.7 percent, and Magyar Telekom closed up 0.4 percent.

Translation In the US

Shortly after the opening, leading US stock indices began to turn around, with the Dow down 0.5 per cent and the S&P 500 down 0.1 per cent. fell, the Nasdaq is the only one that continues to rise, with the tech-overweight benchmark gaining 0.2 percent.

Important news has arrived, the Hungarian stock exchange is excellent

Compared to the beginning of the day, a particularly mixed picture emerged in the European stock markets in the afternoon, but the Hungarian stock exchange performed exceptionally well, thanks to the domestic blue chips. The optimism is partly due to the fact that, in line with the Portfolio daily summary, According to the Brussels sources, EU-Monitor and Népszava stated that although the government had not been able to agree on the Hungarian recovery plan with the European Commission by the 30 September deadline, it could meet within weeks. If this is the case, the 13% advance of the HUF 2,511 billion plan, ie HUF 326 billion, may flow into the Hungarian state coffers by the end of the year.

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Is the world drifting towards an energy crisis? This is how Hungarian professionals would invest now

Stronger-than-expected tone was reached at the Fed’s September interest rate decision meeting, correction as well. The majority of Hungarian portfolio managers still stick to equity positions, but caution is the main consideration. And the processes seen in the energy market can still provide good entry points.

To the article

US stock markets climb upwards

Overseas stock markets rise after opening, Dow up 0.3 percent the S&P 500 rose 0.4 percent, while the Nasdaq strengthened 0.6 percent. Today, by the way, is the last trading day of the quarter and in retrospect we can say that the US markets will not close too strong for three months, in fact, the S&P 500 on Thursday had only 1.4 percent quarterly performance, while the Nasdaq barely rose during the quarter. And Dow is currently in a small minus.

Meanwhile, sentiment on European stock markets has deteriorated somewhat, for example the German stock market has turned around after recent data show that the annual rate of price increase in Germany accelerated to over 4% in September, again after August. inflation has accelerated to an unprecedented peak since the 1990s. Meanwhile, the Hungarian stock exchange is performing particularly well, which is partly due to the good performance of OTP, as the bank paper is up 2.3 percent.

The mood on the Hungarian stock exchange is good

The Hungarian stock market continues to rise, with BUX rising 0.4 percent. Several domestic midcapes are also performing well, with AutoWallis up 1.6 percent after yesterday A target price increase has been received for the share. The company announced this week updated strategy , according to which by 2025 the company’s sales revenue may jump more than four times the value of 2020, over HUF 400 billion, while the management estimates that EBITDA will more than six times, It may rise above HUF 14 billion. Concorde then company and raised its target price to HUF 165, and its recommendation is still a purchase.

European stock markets are rising

Towards the end of the morning, the rise on European stock markets continued, with BUX rising. The STOXX 600 index rose 0.6 percent, driven by technology stocks that have been at the center of the stock market roller coaster seen in recent days, while mining companies rebounded after a steep fall triggered by worries about the Chinese economy. Defensive sectors such as real estate, healthcare, and the food and beverage sector have also risen. The European stock benchmark could close September with a loss of 2.8 percent after a seven-month rising series.

Evergrande has failed to make another payment, investors are worried

According to two policyholders, China Evergrande Group has failed to pay the bond interest due on Wednesday, which is the second in a week. unpaid offshore debt payments, although the cash-strapped company is trying to meet its obligations in the domestic market.

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European stock exchanges cannot escape even if stock market sentiment deteriorates

The falls of recent days in global markets, especially in the United States, have put severe pressure on European stock markets. is. Shares of the old continent have been able to show less and less relative strength anyway since the spring. Stock markets, especially within the European Union, have little chance of fighting weakening exchange rates, as they have been gaining less and more weight on the world map for some time and are far less important than would be justified by the size of economies. Thus, even in a global downturn, we cannot expect them to be resilient, as investment fund managers will be forced to close out their positions here as well. The technical analysis confirms this phenomenon for the main indices.

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Rising in Europe continues

European stock markets are rising after opening, with the DAX gaining 0.5 percent, the CAC rose 0.4 percent, while the FTSE 100 opened up 0.5 percent. The Milan stock market also rose 0.6 percent, while the Spanish stock market strengthened 0.8 percent. The mood has been boosted by the latest UK quarterly GDP data, which show the UK economy grew 5.5 per cent in the second quarter, exceeding expectations and a significant improvement from the 1.6 per cent decline in the previous quarter. Meanwhile, doubts remain about the strength of China’s second-largest economy, China’s economic recovery. The country’s manufacturing performance declined for the first time in September since the launch of Covid-19 in 2020. Also of concern was Reuters ’report that some of China Evergrande Group’s offshore policyholders did not receive interest payments due by New York time on Wednesday, meaning the highly indebted real estate giant has defaulted on its second indebtedness this month.

The Hungarian stock exchange is open with an increase

The Hungarian stock exchange is rising after the opening, BUX 0, It was up 3 percent. Domestic blue chips are rising without exception, OTP has risen 0.3 percent, while Mol has strengthened 0.1 percent, Richter is up 0.7 percent, and Magyar Telekom has risen 0.2 percent.

Bounce may continue

  • U.S. stock markets managed to get some out of Tuesday’s fall on Wednesday, but there’s no clear improvement in sentiment, with the Dow closing 0.3 percent higher, the S&P 500 up 0.2 percent and the Nasdaq closing the day down 0.1 percent. With regard to the U.S. market, investors are concerned about three things: the possible reduction in bond purchases by the Fed, continued inflation, which President Powell said will last longer than originally expected, and the issue of the debt ceiling that Congress is struggling with. Incidentally, the typically defensive sectors performed well yesterday, as did the non-cyclical consumer goods sector and utilities.
  • The picture of trading on Asian stock exchanges was then mixed on Thursday, after recent data show that Chinese manufacturing performance declined in September, when in several parts of the country electricity shortages due to soaring coal prices have hampered industrial production. In terms of leading indices, the Nikkei weakened 0.2 percent, while the Hong Kong stock market fell 0.6 percent and the Shanghai index rose 0.8 percent. In other parts of Asia, the direction was clearer, with South Korea’s Kospi rising 0.4 percent and the Singapore stock market rising 0.6 percent.
  • US stock futures are projected to rise, while the DAX futures are up 0.3 percent.
  • Economic In terms of data, recent statistics on industrial producer prices are published in Hungary today, which is an important basic indicator of inflation. Meanwhile, preliminary inflation data for September are already available for the euro area and Germany. The question of whether the pace of price rises in the euro area rose further from a 3% decade in August could have a significant impact on the ECB’s monetary policy in the coming months. In the Americas, the revised GDP figure is not expected to cause significant market fluctuations, or at least a significant deviation from the preliminary figure, to be surprising.
  • The price of oil went down 0.1 percent, a barrel of Brent costs $ 78.6, while a WTI type costs $ 74.9. The price of gold rose 0.2 percent per ounce to $ 1,729.8
  • The forint shows minimal strengthening this morning so you have to pay 360 forints for one euro, and against the dollar the quotations are at the level of 310 forints for 60 pennies.

What has happened on the stock exchanges so far?

Cover Image: Getty Images

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