Nvidia and the magnificent seven continue to drive markets
Is it tenable for markets to be so reliant on so few stocks?
Standard & Poor’s
NTMA to raise as little as €6bn next year amid strong surplus forecast
Department of Finance estimates record State surplus this year of €23.7bn - 7.5% of domestic economy
Jobs growth in Dublin slows but services sector activity powers ahead
S&P Global’s purchasing managers' index shows weakness in manufacturing activity in Dublin
Dublin business activity accelerates in first quarter, fuelling job growth
Survey of 200 businesses conducted by S&P Global indicates an increase in commercial activity levels between January and March
Ardagh’s debt nears $11.2bn amid S&P warning on risks
Packaging group’s riskiest bonds are currently trade at as low as 27 cents on the dollar
US stocks: bubbly, or expensive for a reason?
High valuations are largely concentrated in a small number of ultra-profitable, mega-cap technology stocks, says Goldman Sachs
US market loses early AI-fuelled gains as investors’ eyes turn to Jackson Hole
Generally weak day of trading across Europe as American market sees early AI-fuelled gains burn out later in the day
Global markets rise despite fears of more interest rate hikes
At home, Iseq Overall Index finished the day up 40 basis points, which was largely in line with international peers
Banks’ rate decisions helping to frustrate competition
Ireland has raised mortgage rates more slowly than others in the euro zone, but it has moved even more cautiously on deposit rates
S&P upgrades Irish banks as problem loans not viewed as an issue
Ratings agency noted that some 60% of residential home loans are now on fixed rates, compared with 40% a year ago
Big tech dominance poses risks for US market
Nvidia may well continue to justify its rich valuation but the increasing dominance of mega-cap stocks is concerning
Stock market trend may have changed
In 20 previous instances where the index’s 200-day moving average rallied after hitting a 52-week low, stocks were higher a year later, averaging gains of 18.2%
S&P agency upgrades Ireland’s credit rating amid rising tax revenues
Ratings agency moves ‘stable’ Ireland’s sovereign credit rating to AA, highest it has been since August 2010
Tech stock earnings exceed expectations
Seven mega-cap stocks were responsible for almost all the S&P 500′s gains in 2023
Pepper ruling ‘could lead to interest rate risks’, S&P warns
Personal insolvency specialists are expected to use the judgment as precedent when negotiating with lenders
Six-month rally augurs well for stocks
Stocks have been stuck in a trading range for months with the index currently near the top of that range
More downside risk for stocks?
The yield curve has never remained inverted six months after a major bear market bottom
Range-bound market defies bulls and bears
Keep an open mind on whether eventual breakout from trading range will be to the upside or downside
Narrow rally ‘raises the stakes’ for tech stock earnings season
Mega-cap strength is masking broader weakness across stock market indices
Quarterly gains bode well for 2023
S&P 500 remains in an uptrend, having never once closed below its December low during the first quarter
Calm returns to stock markets with S&P on the rise
Things may well get worse but for now, investors will be relieved March didn’t turn out nearly as bad as feared
Time heals wounds for investors
The S&P 500 is up 490% since the market bottomed out during the global financial crisis, or 13.5% annualised
Good and bad news for active funds
Percentage outperforming in 2022 was the highest in 13 years but investors were still better off in index funds
Trend followers stay positive on stocks
S&P500 trading above its 200-day moving average is not what a normal bear market rally looks like
Business confidence picks up ‘markedly’ as price pressures cool
Irish firms have raised their expectations for hiring this year, survey suggests
Investors spooked, but market retreat is ‘healthy’
Speed of U-turn in sentiment is marked given the modest nature of the 6% pullback in the S&P500
Will a US recession prolong the bear market?
Markets have started pricing in rate hikes much earlier than normal
S&P takes more positive view of Irish banks’ creditworthiness
Ratings agency upgrades position on PTSB and outlook on Bank of Ireland and AIB
Easing of Irish banker pay limits will add to lenders’ costs, S&P says
Deutsche Bank estimates the three remaining Irish banks will see their total income rise to €8.45 billion in 2024 from €6.25 billion this year, amid rising interest rates
Euro-area businesses signal slump may be shallower than feared
S&P global survey shows recession shows recession still likely across Europe
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