The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
European shares start steeply lower
On Wednesday, European stocks started steeply lower, driven by sharp losses in the financial sector because an everlasting dip in crude prices applied pressure on energy stocks.
The EURO STOXX 50 moved down 1.03%, French CAC 40 lost 1.24%. As for German DAX 30, this benchmark slumped 0.65%.
Financial stocks generally declined as French lenders BNP Paribas as well as Societe Generale lost 2.11% and 2.32% respectively, while Germany's Deutsche Bank and Commerzbank dived respectively 1.28% and 1.59%.
As for peripheral lenders, Italian Intesa Sanpaolo and Unicredit went down respectively 1.18% and 1.60%, while Spanish banks BBVA along with Banco Santander decreased 0.98% and 1.23% respectively.
Meanwhile, everlasting worries as for the level of American crude output suppressed crude prices, which in turn brought stocks down.
FTSE 100 lost 0.35% in London, suppressed by Provident Financial, whose stocks slipped 14.41%.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.