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It was largely a poor week for stock markets globally, with surges in Covid-19 cases overshadowing positive economic news during the week. China was one of the few markets to post positive returns following several weeks of more challenging performance.

  • US: Unemployment falls to lowest level since March 2020
    In the US, the S&P 500 ended the week down 0.1%. President Biden’s plan to increase Capital Gains Tax rates for the wealthy weighed on markets. Initial unemployment claims fell to the lowest level since March 2020.
  • Asia: Rising cases impact Japanese and Indian stock markets
    Japanese stocks fell 2.2% as the government looked to tackle surging Covid-19 cases. Indian stocks also fell sharply as the country was hit by a devastating Covid-19 second wave. Chinese stocks were up led by companies posting big jumps in earnings.
  • Europe: Major country stock markets fall during the week
    In Europe, the Euro Stoxx 50 fell 0.4% and most major country benchmarks fell. Concerns that a rising coronavirus caseload could slow the pace of the economic recovery overshadowed strong corporate earnings and positive economic data.
  • UK: The economy shows signs of rebounding strongly
    The FTSE 100 and the domestically focused FTSE 250 were down 1.1% and 0.6% respectively. The economy is showing signs of a strong rebound as companies reported surging demand and consumers begin spending cash as lockdown measures eased.
  • The Week Ahead
    • In the UK, the focus will be on Covid-19 news and market sentiment
    • In Europe, GDP, inflation, and unemployment data released
    • In the US, GDP data released as the Federal reserve meet this week

    To hear more about these topics, please download the latest episode of The Monday Investment Club podcast.