Daily Report 16.08.2022
Objavljeno: 16. 08. 2022

S&P 500 closes higher on Monday, building on its four-week win streak; European markets close slightly higher; weak Chinese data resurfaces growth fears 
U.S. equities rose on Monday as the rally on Wall Street continued and traders prepared for a big week for retail earnings. 
The Dow Jones Industrial Average added 151.39 points, or 0.45% to close at 33,912.44. The S&P 500 rose 0.4% to 4,297.14, while the Nasdaq Composite edged 0.62% higher to close at 13,128.05. 
Socks opened the session lower, led by declines in energy and financials, before rebounding into positive territory. Consumer staples, communication services and consumer discretionary moved higher, while Tesla pulled technology into positive territory. Disney gained on news of hedge fund manager Dan Loeb’s stake. 
The moves came despite disappointing economic data out of China, where the country’s central bank cut rates unexpectedly, raising concern over China’s economic recovery. 
Shares of Warner Bros. Discover fell more than 3% on Monday following news that it’s cutting 14% of its staff at HBO Max, or 70 jobs, as it looks to cut costs following its April merger. 

European markets closed marginally higher Monday, extending the positive trend seen at the close of trading last week. 
The pan-European Stoxx 600 ended the session fractionally above the flatline after a choppy day’s trade. Food and beverages rose 0.9% to lead gains, while mining stocks fell 1.6%. 
Telecom Italia rose 6% to hit the top of the benchmark following news that Italy’s far-right Brothers of Italy party, which is leading polls, may take the phone company private. 
Source: CNBC, Investing.com