Global Markets Weekly Recap: U.S. Stocks Rise, Economic Indicators Mixed

Global Markets Weekly Recap: U.S. Stocks Rise, Economic Indicators Mixed 

Global Markets Weekly Recap: 

Uptick in U.S. Capital Investment United States: Stocks conclude strong quarter with gains Most major indexes ended the quarter on a high note, with the S&P 500 Index hitting new highs. Market performance was broad-based, with smaller companies outperforming large-caps, and value stocks outshining growth counterparts. Markets were closed on Good Friday, but were set to reopen on Monday.

Investors monitor economic impact of Baltimore port closure Market activity was subdued ahead of the holiday weekend, with focus on the collapse of the Francis Scott Key Bridge in Baltimore, disrupting shipping access to the Port of Baltimore. President Biden pledged federal aid, but the economic ramifications remain uncertain.

Mixed consumer sentiment, busy economic calendar Consumer confidence dipped slightly in March, while the University of Michigan's gauge of sentiment improved to a 21-month high. Economic data included a rise in durable goods orders and unexpected decline in new home sales.

Heavy bond issuance ahead of holiday U.S. Treasuries posted positive returns despite elevated issuance. Municipal bond market saw weakness, while investment-grade and high yield corporate bond markets remained active.

Europe: European markets advance amidst light trading STOXX Europe 600 Index reached a record high despite slowdown in major economies. European government bond yields declined amid potential ECB rate cut in June.

UK enters technical recession Office for National Statistics confirmed UK's entry into recession, with economy contracting in Q4 2023. Germany's retail sales plunged, leading to reduced growth forecasts.

Positive indicators in Spain, eurozone consumer sentiment improves Spain's retail sales rose in February, while industrial producer prices declined. Eurozone consumer confidence reached highest level in over two years.

Japan: Stocks decline amid weakening yen Japanese markets fell as yen depreciated, prompting concerns of intervention. Bank of Japan raised interest rates from negative territory for the first time in seven years.

China: Chinese stocks fall on property sector concerns Shanghai Composite and CSI 300 declined on property market worries. Premier Li pledges support for growth sectors, while IMF forecasts potential 20% growth with pro-market reforms.

Other Key Markets: Hungary's central bank slows rate cuts amid market risk aversion National Bank of Hungary reduces rates in smaller cuts than expected, citing disinflation and market risk aversion.

Colombia accelerates rate cuts amid falling inflation Colombia's central bank reduces benchmark interest rate amidst declining inflation and lowered inflation projections.