Hi, my name is Carl Rogan and every Monday morning I will be bringing you my views of what happened during the previous week and what to look out for in the coming week.
My views are my own and they do not constitute investment advice. My views are derived from Equiduct’s unique data set which represents a clean retail signal free of distortion from institutional investors and therefore are telling of what the sentiment of European retail investors is.
Without further ado, let’s dive right into it!
Last week …
Was the slowest week in quite a while.
With Q3 earnings season out of the way and less tech sector volatility, trading volumes struggled to hit the heights of previous weeks.
The Thanksgiving holiday in the US was a large factor and this is often a subdued week in the markets.
All the main indices in the US and Europe finished up last week with growing confidence in a US rate cut in December the main driver.
A couple of weeks ago it looked less than a 50% chance but analysts now feel a rate cut is closer to an 80% probability on the back of soft US Economic data.
Although volumes were lower, it was still a fantastic week for Equiduct as a major milestone was reached.
Turnover for the year reached €100billion for the first time with a month to spare!
Madrid was dominant again and BBVA continued its run as most traded stock on Equiduct.
This week …
Welcomes the first week of December and the beginning of the festive season.
December can sometimes be a quieter month volume wise but there is plenty of potential for volatility this month.
Peace talks are ongoing between the Ukraine and Russia and if an agreement can be reached there are all sorts of implications for Oil prices and defence companies.
Two of the top ten traded stocks on Equiduct last week were weapons manufacturers and I wouldn’t be surprised to see them there again next week.
There was less AI chatter last week but that elephant in the room is still there and it won’t take a lot to spook markets again.
US ISM survey results are due out this week along with ADP private payrolls and they will be heavily scrutinised to see if they increase or decrease the chances of a rate cut.
In Europe, Eurozone inflation figures are due but are likely to carry less weight with the last rate cut all the way back in June and another is not expected this year.
Will markets get off to a winning start in December? Will AI volatility return this week? Will we be talking about something completely different next week? Let’s see, it could be an interesting week.
That’s all folks, until next week… Happy investing!
Carl
