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Global Equity Markets: Mixed outlook keeps investors confused
Strong earnings reports were supportive of U.S. equities as Amazon[2] saw revenue rise[3] at its highest growth rate in more than six years, while net income doubled. Its stock[4] jumped to a new record high on the news. Other tech leaders such as Microsoft[5] and Intel[6] reported strong earnings, but their stocks backed off following initial breakouts to new record highs. The S&P 500[7] however ended flat, down by only 0.01% for the week.
Rising interest rates remain a concern globally as U.S. Treasury 10-year yields[8] briefly nudged above 3.0% on Wednesday, a key level watched by many market participants, before ending the week at 2.96%. Meanwhile, inflation pressure remains with the U.S. Labor Department reporting[9] that wages and salaries rose at their fastest pace in 11 years.
U.K’s FTSE[10] was the top performer, up 1.82%, for its fifth consecutive week of gains and highest weekly close since late-January.
The historic summit between North and South Korean leaders eased geopolitical tensions[11], but there is further progress to be made, and markets will be watching new developments closely. Japan’s Nikkei Index[12] advanced by 1.38% to end at its highest weekly close in 12 weeks.
Chinese stocks are expected to underperform due to the threat of expanding U.S. tariffs on
