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Daily Note 15/08/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

16.08.2024



  • Macro: Markets trended higher yesterday with the Eurostoxx, the S&P 500 and the Nasdaq all finishing the day in the green following an in-line CPI release out of the US. From an economic perspective, it is a busy day in the US. At 13:30, retail sales data for July is expected to show a slight increase MoM. At the same time, Initial Jobless claims are anticipated to remain flat week-on-week. Also, at 13:30, the Philly Fed Manufacturing Index is released, which is due to indicate continued improving business conditions. Finally, at 14:15 we have US industrial production which is set to show a moderate decline in production.
  • Stock: Yesterday, against the backdrop of speculative press reports about which remedies the DOJ is looking for in Alphabet’s search-related antitrust case, Google made a series of announcements at its “Made by Google 2024” event.
  • Debt: Bond yields moved moderately lower yesterday as market’s reacted to US and UK inflation data.