Today, after a very positive week for European stock markets, the day is rather quiet. Milan is slightly down (-0.05%), while London is the best performer (+0.50%). Frankfurt is just below the par, and Paris is just above. There were no surprises today from Spain’s inflation data: the annual variation in the harmonized index according to European criteria was 3.4%, as expected. Now, attention shifts to German inflation, expected at 14:00. Tomorrow, there will be data on consumer prices in Italy and the Eurozone, as well as GDP in the first quarter in Italy and Germany. In the United States, focus is on the Fed’s decision on Wednesday, and even more on Governor Jerome Powell’s comments on inflation data, which were higher than expected last Friday. Additionally, quarterly earnings reports from Amazon tomorrow and Apple on Thursday are highly anticipated. Last week, earnings impacted Meta’s stock negatively, but boosted Tesla, Alphabet, and Microsoft, contributing to the S&P500’s best week since November.
Speaking of Tesla, the company’s stock is soaring in pre-market trading, up 9%. This comes after CEO Elon Musk made a quick trip to China, where he met with Premier Li Qiang and received provisional approval for their Advanced Autopilot autonomous driving software, which will use maps provided by Baidu. In Italy, Ariston Holding is in the spotlight. The Russian subsidiary has been placed under temporary management by a Gazprom group company. The stock, after an initial decline, is close to parity. The company’s stock, after an initial decline, is close to parity.
Overall, the European stock markets are relatively stable today, with only minor fluctuations. The focus is now on upcoming inflation data, particularly in Germany, and GDP numbers for the first quarter in key European countries. In the US, investors are eagerly anticipating the Federal Reserve’s upcoming decision and comments from Jerome Powell on inflation. Additionally, earnings reports from tech giants like Amazon and Apple are expected later in the week. Last week, market performance was mixed with some companies like Tesla seeing significant gains while others like Meta faced losses. This contributed to the overall positive performance of the S&P500, marking its best week since November.
In conclusion, while today’s trading day is relatively calm, there are key events on the horizon that could impact market movements in the coming days. Investors are closely monitoring inflation data and GDP figures in Europe and the US, as well as upcoming earnings reports from major tech companies. The performance of individual companies, such as Tesla’s recent success in securing approval for their autonomous driving software in China, continues to influence market sentiment. Overall, the stock market remains resilient despite recent fluctuations, with the potential for further positive developments in the near future. As the week progresses, market participants will continue to analyze and react to new information, guiding their investment decisions accordingly.
