If estimates that world markets face a record $4 trillion liquidity drain over the next 18 months are even close to accurate, hold on to your hats. That's how much analysts at Morgan Stanley reckon G4 central banks - the U.S. Federal Reserve, European Central Bank, Bank of Japan and Bank of England - will shrink their balance sheets by, via quantitative tightening, by the end of next year.
Here are some of the main factors that may affect Swiss stocks on Friday: ANNUAL SHAREHOLDER MEETINGS. CLARIANT AG holds its annual shareholders meeting. AC IMMUNE SA (ACIU) holds its annual shareholders meeting. WISEKEY INTERNATIONAL HOLDING AG holds its annual shareholders meeting. UBS GROUP AG holds conference on central banks and inflation. COMPANY STATEMENTS.
The U.S. dollar slipped on Friday and posted its first weekly decline this month, as traders pared back bets on where interest rates may peak and brought forward their outlook on the timing of rate cuts to counter a possible recession. A significant factor this week has been the fall in oil and commodity prices, which has eased inflation fears and allowed equity markets to rebound.
* Energy, cyclical sectors lag. * Lower bond yields support technology, growth stocks. * U.S. business activity slows considerably in June-survey. * Indexes up: Dow 0.64%, S&P 0.95%, Nasdaq 1.62% By Lewis Krauskopf, Devik Jain and Sruthi Shankar.
* Energy, cyclical sectors lag. * Lower bond yields support technology, growth stocks. * U.S. business activity slows considerably in June-survey. By Lewis Krauskopf, Devik Jain and Sruthi Shankar.
- Wall Street's main indexes posted solid gains on Thursday, fueled by strong performance from defensive and tech shares that outweighed declines for economically sensitive groups as worries persisted about a potential recession. The benchmark S&P 500 swung between positive and negative during the session, but stocks picked up steam heading into the market's close.
* Energy, cyclical groups slump, defensives shine. * Lower bond yields support technology, growth stocks. * U.S. business activity slows considerably in June-survey. * Indexes: Dow down 0.36%, S&P off 0.12%, Nasdaq up 0.28% By Lewis Krauskopf, Devik Jain and Sruthi Shankar.
By Jamie McGeever. If estimates that world markets face a record $4 trillion liquidity drain over the next 18 months are even close to accurate, hold on to your hats.
* Defensive stocks lead Wall Street higher amid recession fears. * Crude oil futures extend losses in volatile trade. * U.S. Treasury yields at 2-week low. By Caroline Valetkevitch. Stocks on global indexes rose on Thursday as U.S. Treasury yields fell to a two-week low, while copper was at 16-month lows amid fears of a global economic slowdown.
- Wall Street's main indexes posted solid gains on Thursday, fueled by strong performance from defensive and tech shares that outweighed declines for economically sensitive groups as worries persisted about a potential recession. The benchmark S&P 500 swung between positive and negative during the session, but stocks picked up steam heading into the market's close.
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