Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Weekly Market Update

By Antonio FerlitoMarket OverviewJun 23, 2021 05:26AM ET
www.investing.com/analysis/weekly-market-update-200587745
Weekly Market Update
By Antonio Ferlito   |  Jun 23, 2021 05:26AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

In this latest weekly sequence, Asia continues to lag. The Nikkei was stable for the second week in a row, the Hang Seng lost 0.3% and the Shanghai Composite 1.8%.

In Europe, the CAC40 ended down 0.5%, thanks in particular to the good performance of the luxury goods sector. Its German counterpart, the DAX, lost 1.6% and the FTSE fell by 1.3%. For the peripheral countries of the euro zone, Spain lost 2.1%, Portugal 1.6% and Italy 1.2%.

The SMI is accelerating upwards, with an increase of 1.1% over the last five days, boosted by the return in strength of the three heavyweights of the index: Roche, Nestlé Novartis (see chart).

In the United States, the Dow Jones is looking grim, with a weekly decline of 3.2% and the S&P500 is losing 1.5%. Sectoral arbitrage continues to benefit technology stocks, with the NASDAQ 100 climbing another 0.7% on the week.

Commodities

The price of a barrel of WTI returned to peaks dating back to 2018, before marking a slight consolidation under the effect of the appreciation of the dollar. US crude is trading around $71.5. Brent is trading at $73.5.

The Fed, which was the catalyst for the week, showed its optimism. The rise in the dollar has put downward pressure on gold. The yellow metal has lost nearly 5% over the past 5 days. A reaction seen as a bit of an overreaction for some. But with the Federal Reserve's expected rate hikes, the appeal of gold is not likely to improve, as this increases its cost of ownership.

Overall, the commodities market continues to depress. Lumber is down 15% as supply chains improve. Grains are also losing ground: upcoming harvests are fueling supply and future weather forecasts are improving.

The red metal is not immune either, with China cutting into its industrial metals inventory to curb prices. Copper is down 7.5%

Weekly Market Update
 

Related Articles

Weekly Market Update

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Irfan Khokhar Irfan Khokhar
Irfan Khokhar Irfan Khokhar Jul 24, 2021 6:57AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Italy 🇮🇹
Shah Jaman
Shah Jaman Jun 23, 2021 5:33PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thank You Very Much.
Antonio Ferlito
Antonio Ferlito Jun 23, 2021 5:33PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email