As every Sunday, the most important news of the last week, as well as the most important dates of the coming week. Also as video:
https://youtube.com/shorts/3i2ipcEwcYA?si=Ae4-GzoSHQCAUHKi
Monday:
Prices in the German wholesale sector fell significantly. They fell by 4.1% compared with the same month a year ago. As a result, end consumer inflation is also likely to continue to rise only moderately.
The trade surplus in the euro zone increased significantly in August (+EUR 11.9 billion). This was mainly due to higher exports and lower imports. Due to higher energy prices, which weighed on imports, there were even trade deficits at the start of the Ukraine war.
https://www.handelsblatt.com/dpa/eurozone-handelsbilanzueberschuss-gestiegen/29448382.html
Tuesday:
For the first time in a long time, positive news, the ZEW Economic Sentiment brightens. The sentiment barometer gained 10.3 points to -1.1 points. However, the assessment of the current economic situation clouded over somewhat.
Strong retail data from the U.S. 🇺🇸 increase the likelihood of an interest rate hike by the FED and push the stock markets into negative territory.
Wednesday:
China's economy is growing faster than expected. Compared to the same quarter last year, GDP grew by 4.9% in the third quarter. Growth of 4.5% was expected.
https://www.ft.com/content/a31fa9ed-fc5e-4a37-a80c-956b443ad38b
Still no turnaround on the German real estate market. The number of building permits for housing fell by 28.3% year-on-year in August. The order situation in the construction sector is becoming increasingly precarious.
$ASML (-1.59%) ASML is suffering from weakness in orders. New orders slumped to EUR 2.6 billion, 42% less than in the previous quarter.
$ABBNY (+0.22%) ABB significantly increased sales and profits, with third-quarter sales up 11% and profits up 145% to $882. However, analysts had expected even better figures.
Thursday:
$TSLA (-4.58%) disappointed with quarterly figures. Cash flow and margin suffer from discounting battles. Return on sales fell to 7.6%. At 9%, sales grew more slowly than experts had expected. Deliveries of the cyber truck should probably finally begin.
$SAP (-0.03%) SAP with strong figures, the cloud business has picked up again properly. The operating profit of 2.28 billion euros in the third quarter was well above analysts' expectations.
Still no cooling of the labor market in the USA. Applications for unemployment benefits in the USA fell to an 8-month low.
U.S. government bonds rise to over 5% yield, the highest level in 16 years. This is putting pressure on the stock market. However, this development cannot be viewed separately from current global politics. The main reason for the rise in value is that China is currently dropping out as a buyer. In addition, the Fed is reducing its bond holdings. In addition, more and more market participants expect the Fed to raise interest rates again.
Friday:
Producer prices in Germany fall at record pace. Producer prices fell by 14.7% in September, the sharpest drop ever. This is promising in terms of further inflation.
The solar sector is being sold off after poor figures from $SEDG (+11.9%) SolarEdge sold off. Also $ENPH (+6.64%) Enphase and SMA Solar also lose significant value.
Monday: 16:00 Consumer confidence (Eurozone)
Tuesday: 9:30 Purchasing Managers' Index (DE)
Wednesday: 16:00 Interest rate decision (Canada)
Thursday: 14:15 Interest rate decision (ECB)
Friday: 14:30 Spending data (USA)
