Company / Analytics

Analytics, 19 February 2024

What will drive the markets this week?

On Friday, U.S. stocks experienced a decline, notably with the Nasdaq leading the downturn, following a producer prices report that surpassed expectations. This outcome dampened hopes for immediate interest rate cuts by the Federal Reserve. The S&P 500 closed by 24.18 points, or 0.49%, finishing at 5,005.15 points. The Nasdaq Composite dropped by 132.38 points, or 0.83%, reaching 15,775.65. The Dow Jones Industrial Average fell by 149.48 points, or 0.39%, settling at 38,623.64

In Europe, shares closed the week positively, buoyed by impressive earnings updates and the anticipation of rate cuts by the European Central Bank, which bolstered investors’ appetite for riskier assets.

In Asia, Hong Kong markets led the gains on Friday, with Japan’s Nikkei 225 hitting a fresh 34-year high in an attempt to reach its all-time peak. The Nikkei came close to scaling its record high, reaching an intraday high of 38,863.69, less than 100 points away from its pinnacle.

U.S. financial markets are shuttered on Monday because of the Presidents Day holiday. However, once markets resume on Tuesday, investors can anticipate a flurry of earnings reports throughout the week. Notable companies such as Nvidia (NVDA), Walmart (WMT), Home Depot (HD), Palo Alto Networks (PANW), and others are slated to disclose their financial performance.

Intel (INTC) will also launch its first annual conference for its growing foundry business.

Meanwhile, the Federal Reserve is set to unveil minutes from its January policy meeting, offering deeper insights into officials’ perspectives on interest rates. Fed representatives will also share their latest assessments of economic conditions through various speaking engagements.

Moreover, attention will be on the government as it convenes to discuss new proposals concerning student loan repayment.

Events expected to move the markets this week

Monday, Feb. 19

Tuesday, Feb. 20

Wednesday, Feb. 21

Thursday, Feb. 22

Friday, Feb. 23

Choose one or several trading platforms and achieve your goals with Investors Europe

Investors Europe (Mauritius) Limited is authorised and regulated by the FSC Mauritius, license C112011088. Registered address: 4th Floor, Les Jamalacs Building, Vieux Conseil Street, Port-Louis 11328, Republic of Mauritius. Registered Number: 113933.

Any information contained on this website is provided to you for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here. Investing in certain instruments, including stocks, options, futures, foreign currencies, and bonds involve a high level of risk. Trading on margin comes with substantial risk as well. You must be aware of these risks before opening an account to trade. The income you may get from online investing may go down as well as up.