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Global Equities Show Resilience Amid Rate Stress
Developing
In Short: Deutsche Bank strategists highlighted the resilience of global equities, with US tech stocks leading the way and setting new records.
Deutsche Bank strategists highlighted the resilience of global equities, with US tech stocks leading the way and setting new records. The S&P 500 closed within half a percent of its record high, while the NASDAQ and the Mag 7 both hit new highs.
European markets also showed steady performance, with the FTSE 100, DAX, and FTSE MIB all recording gains. The STOXX 600 ended the day around 4% below its August record high.
Asian markets were generally firmer, with the Hang Seng, Nikkei, and S&P/ASX 200 trading higher. However, the KOSPI reversed earlier gains to close lower.
US equity futures were up around a tenth of a percent, while European equivalents saw gains of four-tenths. China’s onshore markets remained closed for the National Day and Golden Week holidays, set to resume trading on Thursday.
What this adds
Deutsche Bank's analysis underscores the continued strength of global equity markets despite ongoing concerns about interest rates.
Background
Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt. It is dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange.
What's still developing
- Nothing material beyond the confirmed record.