.png)
WEEKLY SUMMARY: Stocks, gold, oil and the $ jumped. Cryptos dumped
Signs that the US jobs market is cooling down helped the major US equity indices to register solid gains for the week, although stocks closed out their first negative month since February. A decrease in bond yields over much of the week provided a boost to growth shares. Smaller-cap stocks outperformed. Indeed, bad news for the economy was considered good news for stock prices, given the interest rate implications. On Tuesday, the S&P 500 Index recorded its best one-day gain since June, following news that job openings unexpectedly fell by 338,000 in July and hit their lowest level since March 2001. Friday’s closely watched nonfarm payrolls report appeared to confirm loosening labor market conditions. US employers added 187,000 jobs in August, somewhat above consensus expectations, but gains for the previous two months were revised lower by a combined 110,000. Meanwhile, the unemployment rate climbed from 3.5% to 3.8% to reach its highest point since February 2022. While short-term Treasury yields decreased considerably over the week, the 10-year U.S. Treasury yield increased sharply on Friday morning, leaving it modestly lower for the week. This could be linked to WTI soaring to $86, the highest level since Nov 2022. Gold rallied for the second week in a row, topping $1950 back at one-month highs. The pan-European STOXX Europe 600 Index ended the week 1.5% higher while Japan’s Nikkei 225 rose by 3.4%. The dollar surged while Bitcoin dropped back below $26,000.
Disclaimer
This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document.
Related Articles
The S&P 500 closed at a fresh all-time high on Friday, rising for a 5th consecutive week, its longest weekly winning streak since 2024. This brings the index up +15% since the March 30 low, also marking April as the best month for stocks since November 2022. Stocks largely shrugged off the stream of sometimes conflicting headlines about the war in the Middle East and a surprisingly hawkish Federal Reserve policy meeting to post solid gains in most major indexes. Large-cap stocks outpaced small-caps, and value outperformed growth. Five of the “Mag 7” companies reported earnings, with financial results generally meeting or exceeding expectations for these bellwether firms. Meanwhile, major central banks keep rates on hold amid war uncertainty.