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Daily Note 30/08/2024 – Market View: Day Ahead, Macro, Stocks, Debt Markets

30.08.2024



  • Macro: It was a mixed bag for equities yesterday, as the Eurostoxx600 moved higher, whilst in the US, the S&P500 was flat and the Nasdaq ended in the red, despite encouraging economic data seen on both sides of the Atlantic. In the day ahead, at 9:30, mortgage approvals in the UK are predicted to have been broadly flat MoM in July. At 10 am, the August Eurozone CPI print is expected to show deceleration to 2.2% YoY, from 2.6% in the prior month, whilst core CPI is to come in at 2.8%, down from 2.9% in July. At 1:30pm, we will see the July read of the Fed’s preferred inflation gauge, core PCE, which is expected to nudge up modestly on a YoY basis. Finally, at 15:00, the University of Michigan Consumer Sentiment Index is to show a marginal improvement in August.
  • Stock: We have updates on PayPal, Kingspan, PTSB, Greencoat Renewables and GSK
  • Debt: Bond yields moved lower following the benign inflation data out of Europe but rebounded on the stronger than expected US growth.