August 24, 2020: US, Europe, and Asian Equities Quick Review

US equities bounce back of better-than-expected economic data. IHS Markit Purchasing Managers Indexes (PMI) for manufacturing and services increased in August to 53.6 and 54.8, respectively. European equities weakened as economic data came in lower-than-expected. The Markit Eurozone manufacturing PMI is at 51.7 in August from 51.8 of last month versus at 52.7 expectation. Eurozone services PMI also posted at 50.1 from 54.7 in July signaling a growth slowdown. Asian equities show optimism as it rose following the release of favorable PMI data in the US, vaccine hopes, and continued tech-driven rally on Wall Street.

US Treasury yields were mixed as it weighed on the positive US PMIs economic data versus the disappointing labor data release. On average, US Treasury yields fell 1.23 bps DoD, with the 2Y ending at 0.1432% (+0.21 bps) and the 10Y closing at 0.6282% (-2.27  bps).

DJIA

The Dow Jones Industrial Average (INDEXDJX: DJI) or DJIA closed at 27,930.33 (+0.69% DoD)

S&P 500

Standard and Poor or S&P 500 closed at 3,397.16 (+0.34% DoD)

MSCI Europe

The MSCI Europe closed at 120.98 (-0.17% DoD)

MSCI APxJ

The MSCI APxJ closed at 563.24 (+1.02% DoD)

 

General Manager / Financial Consultant
Bizceed International, Inc.
A licensed Financial Advisor for Insular Life Philippines Inc., a former bank manager with almost 10 years experience in financial & global market. Hobbies include Stock Trading & Investments, Physical Fitness and Current Events.

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