Daily Note 09/07/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

09.07.2024



  • Macro: Macro: It was a mixed session for equity markets yesterday as the Eurostoxx600 moved lower, whilst the Nasdaq and the S&P500 both made gains, as political developments continued to drive investor sentiment. From an economic standpoint for the day ahead, out of the US at 11:00, the NFIB small business optimism survey is expected to have declined modestly MoM in June. Then at 15:00, Fed Chair Powell makes his bi-annual congressional testimony where he could strike a dovish tone given recent softness in a number of forward-looking economic indicators.
  • Stock: We have provided a note on JP Morgan Global Growth and Income Trust alongside a short corporate update on Shell.
  • Debt: Core bond yields were little changed yesterday ahead of Powell’s testimony to Congress today.