In New York, the stock indices turned positive after initial losses on Monday. Investors obviously put their hopes in the expected quarterly reports of the major US tech stocks. Today, Alphabet and Microsoft, among others, present their figures for the first quarter. On Wednesday, Meta (Facebook) follows and on Thursday, Apple, Amazon, or Intel. The acquisition of Twitter by Tesla founder Elon Musk is also a topic of conversation on the stock exchange floor. The management of the short message service gave the green light yesterday for the approximately USD 44 billion offer. The Dow Jones Industrial was still down more than three percent at the start of trading, but then closed with a daily gain of +0.7% at 34'049.46 points. The S&P 500 exited Monday's trading with a gain of +0.57% at 4'296.12 points. On the Nasdaq technology exchange, the indices rose by about +1.3%.
At the center of interest, however, certainly remain the anticipated monetary tightening course of the Federal Reserve, the war in Ukraine and the negative impact of China's Covid-19 policy, respectively, the supply chain problems on the global economy, which have been exacerbated again as a result.
Although the re-election of Macron in France guarantees a certain stability in the political and economic structure of Europe, the relatively close result casts a shadow over the future of the continent's second-largest economy.
The monthly survey by the Munich-based economic research institute Ifo showed a return to a somewhat more optimistic assessment of the approximately 8'000 German companies surveyed. According to the survey, the highly regarded Ifo business climate indicator improved from 90.8 to 91.8 points in April, while analysts on average had forecast a further decline to 89.0 points. Ifo President Clemens Fuest commented that the German economy was showing resilience after the initial shock over the war in Ukraine and that sentiment had stabilized at a low level.
According to a recent study by the Swedish peace research institute Sipri, based on official government data on defense budgets, global military spending in 2021 – well before Russia's attack on Ukraine – rose above the USD 2 trillion mark for the first time (to USD 2.12 trillion). This also marks the seventh consecutive year that defense spending has increased. The United States spent the most on military equipment, and even the corona pandemic did not seem to buck the trend. According to the report, the US invested USD 801 billion in military defense equipment, particularly military research, and development. China increased investment by almost five percent, spending USD 293 billion on its armed forces in 2021. India, the UK, and Russia follow at some distance behind.
|08:00||SZ||Trade Banalce (March)||CHF +5.95bn|
|14:30||US||Durable Goods Orders (March, m/m)||-2.1%|
|15:00||US||S&P/CaseShiller House Prices 20 biggest cities (Feb, y/y)||+19.1%|
|16:00||US||Consumer Confidence (Arpil)||107.2|
|16:00||US||New Home Sales (March, m/m)||-2.0%|
|SZ||Kuehne & Nagel||Q1|
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 for your information only and is not intended as an offer, solicitation of an offer, or public advertisement to buy or sell any investment or other specific product. Its content has been prepared by our staff and is based on sources of information we consider to be reliable. However, we cannot provide any confirmation or guarantee as to its being correct, complete and up to date. The circumstances and principles to which the information contained in this publication relates may change at any time. Information that has been published should therefore not be understood as implying that no change has taken place since its publication or that it is still up to date. The information in this publication does not constitute an aid for decision-making in relation to financial, legal, tax-related or other consulting matters, nor should any investment decisions or other decisions be made on the basis of this information alone. It is recommended that advice be obtained from a qualified expert. Investors should be aware that the value of investments can fall as well as rise. Positive performance in the past is therefore no guarantee of positive performance in the future. Investments in foreign currencies are also subject to fluctuations in exchange rates. We disclaim all liability for any loss or damage of any kind, whether direct, indirect or consequential, which may be incurred through the use of this publication. This publication is not intended for persons subject to legislation that prohibits its distribution or makes its distribution contingent upon an approval. Any person coming into possession of this publication shall therefore be obliged to find out about any restrictions that may apply and to comply with them. In line with internal guidelines, persons responsible for compiling this report are free to buy hold and sell the securities referred to in this report.