Stock markets were still driven by substantial progress in trade talks (S&P500: +0.62 percent WTD, MSCI EMU: +0.82 percent, NIKKEI225: +2.56 percent, MSCI All China+HK+Taiwan: +4.51 percent) despite disappointing macroeconomic data in the U.S. (smaller than expected increase in durable goods orders in January, contraction in regional manufacturing activity in February). President Trump eventually announced on Sunday he would delay US tariffs on China and would like to plan a summit with Chinese President Xi Jinping to finalize the trade agreement.
Market sentiment also remained positive after the Federal Reserve reaffirmed it would be “patient” on further interest rate rises. Treasury yields remained unchanged over the week.
S&P sectors finished the week pretty evenly mixed between green and red. Utilities (+2.36 percent), which were still the YTD worst performing stocks a week ago, and materials (+2.30 percent), led by Newmont Mining Corp after the all-stock bid from Barrick Gold Corp, took the lead. It was more difficult for the energy sector (-0.56 percent) even though oil prices were up (WTI +1.98 percent) and healthcare stocks (-0.33 percent), some of them being downgraded by brokerage firms.
Find the full report here : https://www.trackinsight.com/weekly-flow-report/2019-02-22/global