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How about the US consumer climate?

This afternoon, the latest survey from New York's The Conference Board will give us an insight into the mood of American consumers. Ahead of the survey, stock indexes on the New York Stock Exchange were moderately lower at the start of the week and there was no consistent trend in Asia today. 

Alessandro Fezzi, LGT
Temps de lecture
5 minutes
Consumer Confidence typewriter
© Shutterstock

Investors are eagerly awaiting fresh economic data. US consumption and consumer sentiment will play a key role. The Consumer Sentiment Survey, conducted by The Conference Board, a think tank founded in 1916, provides a monthly picture of consumer sentiment, particularly in the US, as well as households' purchase intentions, vacation plans and expectations for inflation, stock prices and interest rates. The data is broken down by age, income, nine regions and eight major states. The results will be published today at 3 p.m. (CET).

On Wall Street, the Dow Jones Industrial Index closed at 39,313.64, down 0.4% on the day. The broader S&P 500 fell 0.3% to close at 5,218.19. The tech-heavy Nasdaq closed about 0.3% lower. US Treasury prices were lower on Monday, with the yield on the 10-year US Treasury rising moderately to 4.25%.

Asia-Pacific stock markets were mixed on Tuesday. Japan's Nikkei 225 fell 0.1%, while the broader Topix was flat. However, South Korea's Kospi rose 0.8% to its highest level since February 2022. Hong Kong's Hang Seng Index gained just under 0.2% on Tuesday, driven by energy and industrial stocks, while the CSI 300 in mainland China was virtually unchanged. In Australia, the S&P/ASX 200 fell 0.4% after trading close to its all-time high on Monday.

In Europe, there was also no clear trend in the trading week shortened by Good Friday. The EuroStoxx 50 was up just under 0.3% on Monday, remaining above the 5,000 mark.

The EU Commission announced yesterday that it is opening proceedings against Google's parent company Alphabet, Apple and Facebook's parent company Meta. This concerns possible breaches of EU rules. The Brussels executive cites, among other things, the fact that personal data is combined across different central platform services and that users' consent must be obtained for this. In the case of Apple, it will be examined whether users of Apple devices can simply change their default settings to use a different browser or search engine. The case is part of the EU's Digital Markets Act (DMA), which aims to increase competition in digital services. The Commission intends to conclude the case within a year. A fine of up to ten percent of total worldwide turnover is possible.

Corporate news in focus: Baloise Q4 results.

Economic data in focus: Germany GfK consumer climate, Spain Q4 GDP, US consumer confidence, S&P/Case Shiller house price index and durable goods orders.

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Publisher: LGT Bank (Switzerland) Ltd., Glärnischstrasse 36, CH-8027 Zurich
Editor: Alessandro Fezzi
Source: LGT Bank (Switzerland) Lten steht Ihnen ein Berater der Bank gerne zur Verfügung.

Herausgeber: LGT Bank (Schweiz) AG, Glärnischstrasse 36, CH-8027 Zürich
Redaktion: Alessandro Fezzi
Quelle: LGT Bank (Schweiz) AG

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