In New York, stock market trading ended early on Friday due to the holiday celebrations surrounding Thanksgiving on Thursday. The Dow Jones Industrial ended up on the day +0.45%, finishing at 34,347.03 points. The S&P 500 fell a moderate -0.03% to close at 4026.12 points. Indices on the Nasdaq suffered larger losses, ending down roughly -0.7%.
In Asia, stock markets were mixed on the news of protests in China and a 75-basis-point interest rate hike in New Zealand, the largest in the history of that country’s central bank. Hong Kong’s Hang Seng index was trading up +0.81%, while in mainland China, the Shanghai Composite increased +0.26%. There was no trading on Japanese markets due to a public holiday.
Germany’s economy grew in the third quarter by +0.4% versus the previous quarter, a faster growth rate than many market participants had expected. Household spending was the main driver of the increase. The data suggests the downturn in the German economy may prove to be less severe than many had feared after Thursday’s Ifo Business Climate Index for Germany improved on the previous month.
Customer numbers in the U.S. were moderate over the long Thanksgiving weekend, with retail stores forced to use heavy discounts to reel in shoppers. The weekend traditionally kicks off the start of busiest shopping season of the year. Falling consumer sentiment could signal to the U.S. Federal Reserve that inflationary pressures are easing, which could help to justify a slower pace of interest rate hikes. The University of Michigan Consumer Sentiment Index, which surveys consumer confidence, also fell in November compared with the previous month.
|10:00||EZ||M3 money supply (October, y/y)||+6.3%|
|16:30||US||Dallas Fed general business activity index (November)||-19.4|
|20:30||US||CFTC speculative net positions - WTI||278,300|
|20:30||US||CFTC speculative net positions - S&P 500||-202,600|
|CH||Nestle (investor seminar)|
|GB||Easyjet (annual figures, detailed)|
|FR||Axa (Investor Day)|
Publisher: LGT Bank (Switzerland) Ltd., Glärnischstrasse 36, CH-8027 Zurich
Editor: Alessandro Fezzi, E-Mail: firstname.lastname@example.org
Source: LGT Bank (Switzerland) Ltd.
Risk Disclosure (Disclaimer)
This publication is an advertising material / marketing communication. This publication is intended only for your information purposes. It is not intended as an offer, solicitation of an offer, or public advertisement or recommendation to buy or sell any investment or other specific product. The publication addresses solely the recipient and may not be multiplied or published to third parties in electronic or any other form. The content of this publication has been developed by the staff of LGT and is based on sources of information we consider to be reliable. However, we cannot provide any confirmation or guarantee as to its correctness, completeness and up-to-date nature. The circumstances and principles to which the information contained in this publication relates may change at any time. Once published information is therefore not to be interpreted in a manner implying that since its publication no changes have taken place or that the information is still up to date. The information in this publication does not constitute an aid for decision-making in relation to financial, legal, tax or other matters of consultation, nor should any investment decisions or other decisions be made solely on the basis of this information. Advice from a qualified expert is recommended. Investors should be aware of the fact that the value of investments can decrease as well as increase. Therefore, a positive performance in the past is no reliable indicator of a positive performance in the future. The risk of exchange rate and foreign currency losses due to an unfavorable exchange rate development for the investor cannot be excluded. There is a risk that investors will not receive back the full amount they originally invested. Forecasts are not a reliable indicator of future performance. In the case of simulations the figures refer to simulated past performance and that past performance is not a reliable indicator of future performance.
The commissions and costs charged on the issue and redemption of units are charged individually to the investor and are therefore not reflected in the performance shown. We disclaim, without limitation, all liability for any losses or damages of any kind, whether direct, indirect or consequential nature that may be incurred through the use of this publication. This publication is not intended for persons subject to a legislation that prohibits its distribution or makes its distribution contingent upon an approval. Persons in whose possession this publication comes, as well as potential investors, must inform themselves in their home country, country of residence or country of domicile about the legal requirements and any tax consequences, foreign currency restrictions or controls and other aspects relevant to the decision to tender, acquire, hold, exchange, redeem or otherwise act in respect of such investments, obtain appropriate advice and comply with any restrictions. In line with internal guidelines, persons responsible for compiling this publication are free to buy, hold and sell the securities referred to in this publication. For any financial instruments mentioned, we will be happy to provide you with additional documents at any time and free of charge, such as a key information document pursuant to Art. 58 et seq. of the Financial Services Act, a prospectus pursuant to Art. 35 et seq. of the Financial Services Act or an equivalent foreign product information sheet, e.g. a basic information sheet pursuant to Regulation EU 1286/2014 for packaged investment products for retail investors and insurance investment products (PRIIPS KID).