While the recovery in economic data that China is sharing today reflected the US stock markets positively before the session, the Empire Index, the leading manufacturing data published in the US, was interpreted as a sign of economic recovery by the markets. While the corporate acquisitions momentum and merger news noted in tech companies yesterday was preserved, finance and energy in the S&P 500 index declined, while the telecom and housing sectors gained value. The index supported the rise of the telecom sector by 1.72%, with technology companies increasing by 1%. While the environment created by low interest rates made it difficult for millions to keep pace with the rally, stocks closed the day horizontal. The S&P 500 ended the day at a 0.52% premium. The technology-focused Nasdaq and Dow Jones indexes closed the day at 1.11% and 0.01%, respectively. In light of today's product launch, Apple shares ended the day 0.16% higher, while Walt Disney + Disney + closed the day flat, down 0.01% despite news of Disney + implementation in 8 other countries. One of the companies to suppress the Dow Jones Index was Caterpillar, as the slowdown in sales continues due to the pandemic. With a loss of 3.20%, Caterpillar stock was the biggest loser in the index, while JP Morgan and Travelers Cos was down 2.02%. Salesforce shares rose 2.04%, Dow 1.96% and Home Depot 1.76%.
The positive trend of the US indices yesterday was also reflected in the European indices today. In light of economic data shared by the UK, the FTSE 100 distinguished itself positively from the DAX and Euro Stoxx 50 and closed the day 1.55% higher. News of a new vaccine came from Institute director Paul Ehrlich. He explained in the statement that he made, that an effective immune response against the virus was established in the first and second stage of the vaccine clinical trials, and the first approvals could come at the end of 2020 or early 2021. The DAX and Euro Stoxx 50 indices closed at 0.18% and 0.47%, respectively. Given the sectoral dividend yield in the German index, the health and consumer goods sector closed the day up 1.68% and 0.33%. Bayer's acceptance of liability and conciliatory stance in the US-based lawsuits against the company closed today a 2.73% increase, as it was favorably priced by the markets. On the other hand, the agreement of the famous automaker Daimler to pay $ 1.5 billion in the diesel emissions scandal was negatively priced and the stock closed today with a 0.37% surplus.
According to data released today, industrial production in China rose 5.6% year on year in August, beating expectations of 5.1%. In the same period, the increase in retail sales was 0.5% year-on-year. While the UK unemployment rate was released in line with expectations of 4.1% in the three-month period, the ZEW survey for September in the Eurozone came in at 73.9 and 77.4 in Germany. In the US, the Empire Manufacturing Index was 17 points higher than expectations of 6.9 in September. Industrial production increased 0.4% MoM in August, while capacity utilization was announced 71.4%.
Trade data for August will be released in Japan tomorrow. Inflation numbers for August will be tracked in the UK. In the US, the August retail sales data and the Fed's monetary policy meeting are important developments today.
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