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 …
Wasn’t as busy as it might have been.
NVIDIA’s results were the focus of the week. Despite posting record quarterly earnings figures and initially climbing, the stock somehow ended up down on the week.
Consequently, tech stocks had another busy week as did defence companies who were impacted by a new peace plan being floated between Russia and Ukraine.
Weapons company Rheinmetall was the sixth most traded stock on Equiduct and dropped over 12% over the course of the week.
Madrid is the most traded market on Equiduct this year. It started last week strongly and was the most traded market Monday through to Wednesday before losing top spot to Paris on Thursday and only narrowly coming out ahead on Friday.
BBVA was the most traded stock again last week but by less than €10million as trading in ASML finished the week strongly thanks to the NVIDIA fuelled volatility.
This week …
Is an exciting one for Equiduct. We are on course to break the €100billion turnover mark for the first time in a calendar year, and with a month to spare.
€350million ADV is required and with the worst day this month so far being €375million, we are hopeful of reaching the landmark before the weekend.
US markets will be closed for thanksgiving on Thursday so it is likely to be a subdued end to the week. There is plenty of potential for volatility before the holiday however.
A raft of different Economic data is due to be released in the US on Wednesday and there is also the new budget update in the UK.
Investors in defence stocks will be watching developments closely between Russia and the Ukraine and if a peace deal starts to look likely then expect those stocks to fall further.
AI anxiety is sure to be a factor again this week. Many would have expected the results that NVIDIA released to lead to a bullish end to the week for tech stocks.
The root cause of the uncertainty is the sky-high levels of investment by some of the biggest companies in the world and that this investment is increasingly being debt financed.
NVIDIA’s stellar results therefore did nothing to alleviate these fears as all they did was confirm that there is indeed still huge demand for their chips as these companies continue to pour huge sums into the technology. A correction, and possibly a large one, is still expected unless major breakthroughs are forthcoming in the near future. Will we see this breakthrough before Christmas? Could a news story unfold this week that causes the first tech domino to fall? It could be another interesting week.
That’s all folks, until next week… Happy investing!
Carl
