Daily Note 08/08/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

08.08.2024



  • Macro: It was a mixed session for equities yesterday with Europe climbing, whilst the S&P 500 and the Nasdaq both ended the day down. A weak set of results from Super Micro Computer weighed on sentiment for AI related names whilst weaker updates from AirBnB and Hilton Hotels on the back of softer summer travel demand kept travel and leisure names under pressure. From an economic perspective, data for the remainder of the day is relatively light with Irish CPI for July out at 11.00 and across the Atlantic, Weekly Initial Jobless Claims at 13.30 will take on added significance given last week’s softer non-farm payrolls data.
  • Stock: We had earnings release from CRH, Allianz and IRES REIT while we also met with Bank of Ireland following the positive H1 results released last week.
  • Debt: Core Bond yields moved higher as investors again moved towards a risk on approach.