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The Democrats are taking a victory in both the House of Representatives and the Senate in the US midterm elections. This would mean increased oversight and regulation, but major economic policy directions would hardly see any significant changes.
Based on polls, the US midterm elections appear to result in a divided government. Historically, this combination has been relatively favorable for the stock market, but this year, interest rates, oil, and artificial intelligence expectations will likely weigh more heavily on the scales than the election outcome.
En aktie som har rusat inför rapporten ska enligt tumregeln falla när siffrorna väl kommer. Nu mitt i rapportsäsongen ville jag veta om det finns något i det.
Last week was mixed on the European and US stock markets. Helsinki and Europe more broadly were up, but in the US, Nasdaq fell by 2.0% and S&P 500 by 0.6% for the week. Cracks appeared in the shield of the technology sector. Disappointments in earnings were severely punished: for example, Intel’s share fell 29% on Friday.
On Wednesday, the ECB Governing Council left its policy rates unchanged following the September hike, leaving the deposit facility rate at 2.50%. On the same day, President Christine Lagarde announced that she will step down from her position in February. His eight-year term would not have ended until next October.
On Wednesday, the US Federal Reserve kept its policy rate unchanged at 3.75–4.00% following the previous rate hike in September. The decision was not unanimous, and many factors suggest that the tightening cycle is merely on pause.
The ECB is expected to keep its policy rate unchanged on Thursday. Energy prices have driven up inflation, but price pressures do not appear to be spreading significantly to other commodities.
On Wednesday, the Fed will likely keep its policy rate unchanged at 3.75–4.00% and take a deep breath before the next rate hike. However, inflationary pressures have not eased, and the market expects interest rate hikes to continue in December.
Last week was a declining week on the European and US stock markets. The market is reassessing the returns on investment and massive funding requirements in the technology sector. The indices fell, and credit spreads widened. However, the belief that technology will continue to drive US economic growth found support.
As he completes his first year as Group CEO, Morten Thorsrud reflects on his journey so far. In this blog post, Morten reflects on the past year, motivation, and the values that guide his leadership.
European companies are expected to deliver a strong Q3. Earnings growth extends beyond the AI hype, as energy companies and the industrial sector have performed well.
The Nomination Committee has been busy recently. At the turn of September and October, the Board's self-evaluation was reviewed, and each member was interviewed individually. This was very interesting to me, as individual interviews were not conducted last year.
Last week was an unusual week in the European and US stock markets. US consumer, producer, and import prices rose faster than expected, but government bond yields still decreased.
Sampo reports its financial performance under four segments based on its operational business areas. In this blog series, we have introduced our segments, concluding the series with Nordic Industrial.
Driven by gasoline, US consumer prices rose by 0.6% month-over-month in September, and the year-over-year pace accelerated to 3.7%. Price pressures have started to spread beyond energy prices, making the Fed's October rate decision tighter than before.
