Global Markets Weekly: A Comprehensive Overview of Financial Markets Around the World

United States

• The S&P 500 and most major benchmarks ended a streak of losses, buoyed by a busy earnings reporting week.
• Technology stocks, particularly Apple and NVIDIA, drove the Nasdaq Composite Index's superior performance. Alphabet's earnings announcement and dividend payment also contributed to the rally.
• Meta Platforms experienced a significant drop after announcing continued investment in new technologies.
• Economic data presented a mixed picture, with manufacturing activity contracting and service sector growth missing expectations. The economy's growth rate also slowed, raising concerns.
• Inflation data indicated a slight easing, but concerns of stagflation loomed. However, a decrease in core PCE inflation in March provided some relief.
• Consumer sentiment dipped in April amidst higher inflation expectations.
• The bond market saw strong demand, with tax-free municipal and investment-grade corporate bonds being oversubscribed.
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  Market Index Changes:
  
  
  • DJIA: 38,239.66 (up 253.26 or 1.46%)
  • S&P 500: 5,099.96 (up 132.73 or 6.92%)
  • Nasdaq Composite: 15,927.90 (up 645.89 or 6.11%)
  • S&P MidCap 400: 2,895.25 (up 58.37 or 4.09%)
  • Russell 2000: 2,002.00 (up 54.34 or -1.24%)

Europe

• The STOXX Europe 600 Index ended higher, breaking a three-week losing streak, supported by easing Middle East tensions and positive corporate earnings.
• Major stock indexes, including Germany's DAX and France's CAC 40, saw gains, with the UK's FTSE 100 reaching new highs.
• European government bond yields increased, influenced by strong U.S. economic data and expectations of sustained higher interest rates.
• ECB policymakers signaled a potential rate cut in June but remained cautious about further reductions.
• Business activity in the eurozone showed signs of acceleration, particularly in the services sector.
• The UK experienced strong business activity growth in April, though demand seemed to weaken.

Japan

• Japanese stock markets benefited from the yen's weakness, with both the Nikkei 225 and TOPIX indexes posting gains.
• The Bank of Japan maintained its monetary policy, with hints of increased confidence in raising rates later in the year.
• Inflation pressures appeared to ease, and private sector activity showed signs of expansion.

China

• Chinese stocks rose amid optimism about economic growth, with the Shanghai Composite and CSI 300 indexes making gains.
• Economic growth forecasts were revised upward, with GDP growth accelerating in the first quarter.
• Monetary policy remained unchanged, reflecting a cautious approach to easing.

Other Key Markets

• Hungary: The National Bank of Hungary reduced its main policy rates, adopting a cautious approach to monetary policy amidst disinflation.
• Türkiye: The central bank held its key interest rate steady, noting the possibility of future increases if inflation worsens significantly.