Economy on 29.11.2023...

It's freezing outside and what's the stock market doing?

Yesterday's trading day was characterized by optimistic investors. The Dow Jones gained 0.24% and closed at 35,416 points.

The S&P 500 and the technology-heavy Nasdaq also made slight gains. There is still speculation of a turnaround in interest rates or a rate cut from May 2024, with the market currently putting the chances of a rate cut at over 60%. Among the individual stocks Micron came under some pressure. The chip manufacturer changed its forecast and thus lost just under 2% compared to the previous day. Seeing problems Micron sees problems with the coming costs, as the sales targets were raised slightly. The competitors AMD and Nvidia fell by 0.5% to $0.9 each. In contrast, the financial services provider Affirm. It gained a further 11% yesterday, continuing to benefit from the good sales during the last offer periods. Affirm offers prospective buyers the "order now, pay later" option, among other things, which was probably particularly popular.

Economic data

08:00

• DE: Import/export prices October import prices FORECAST: -0.5% yoy/-13.5% yoy previous: +1.6% yoy/-14.3% yoy
  
• DE: Real wages (preliminary) 3Q | Wage index (development of collectively agreed earnings) 3Q

09:00

• ES: HICP and consumer prices (preliminary) HICP FORECAST: +3.1% yoy previously: +3.5% yoy

11:00

• EU: Economic Sentiment Index November Eurozone Economic Sentiment PROGNOSE: 93.7 previous: 93.3 Industrial confidence Eurozone PROGNOSE: -9.0 previous: -9.3 Consumer confidence Eurozone PROGNOSE: -16.9 Advance estimate: -16.9 previous: -17.9

14:00

• DE: Consumer Prices (preliminary) November PROGNOSE: -0.3% yoy/+3.5% yoy Previous: 0.0% yoy/+3.8% yoy HICP PROGNOSE: -0.2% yoy/+2.8% yoy Previous: -0.2% yoy/+3.0% yoy

14:30

• US: GDP (2nd release) 3Q annualized PROGNOSE: +5.0% yoy 1st release: +4.9% yoy 2nd quarter: +2.1% yoy GDP deflator PROGNOSE: +3.5% yoy 1st release: +3.5% yoy 2nd quarter: +1.7% yoy

20:00

• US: Fed, Beige Book

ex-dividend of individual stocks

CARECLOUD INC 0.1664 EU

Quarterly figures / company dates USA / Asia

14:00 General Motors Business Strategy Update

22:05 Salesforce quarterly figures

Untimed: Foot Locker quarterly figures

Quarterly figures / Company dates Europe

07:00 Aroundtown | Prosus quarterly figures

14:00 Deliveroo Capital Markets Day

Untimed: Aurelius quarterly figures | Norsk Hydro Capital Markets Day

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