Markets were mixed last week with some cyclicals underperforming and others in negative territory. Highly cyclical mining and minerals lost 1 percent as investors were taking profits from the recent run-up. The US Nasdaq was the big winner, gaining 1.4 percent.
Stock performance has been very strong since the first LTRO. And now the second round has begun, which could potentially be another catalyst for stocks. The banks have taken the opportunity to load up on a total of €986bn of cheap funding during the LTRO rounds. But private investors must agree to the Greek debt swap deal by March 9; if they don’t, market disruptions may occur.
Macro surprises have been very positive recently, which creates high expectations that could potentially result in negative surprises for investors. On Friday, the latest US non-farm payroll and unemployment figures are to be released, which will hopefully show continued improvements in employment and an improving macro picture in the world’s biggest economy.
More earnings releases from Canadian banks are due this week, along with Glencore the commodities giant, and Anheuser Busch.
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Nasdaq up 1.4% Last Week Amidst Mixed Performance Across Sectors
Published 03/05/2012, 10:46 AM
Updated 03/19/2019, 04:00 AM
Nasdaq up 1.4% Last Week Amidst Mixed Performance Across Sectors
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