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Daily Note 19/06/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

19.06.2024



  • Macro: It was another positive day for equities yesterday with the EuroStoxx600 up, whilst the Nasdaq and S&P500 both finished the day higher, as a rally in Semis (ex AMD and Intel) drove stocks to another record. Nvidia also drove higher on the day to become the world’s most valuable company.
  • Later today, in Europe, we have UK House Prices for April alongside EU Construction Output for April. Out of the US, which is closed for Juneteenth public holiday, we still have MBA Mortgage applications and NAHB Housing Market index data which is a key indicator of the health of the US housing market.
  • Stock: Following the recent underperformance in Ryanair’s shares, we held a call with the investor relations team yesterday. (Comment Attached)
  • Debt: Core bond yields moved marginally lower on the back of weaker than expected Retail Sales out of the US.