Back In the News Again - Volatility: 07 August 2024
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Market Mood
This week, the eurozone is set to release key economic data including retail sales and Germany's final inflation figures for July, alongside updates on trade and industrial production. This comes after initial signs of a stagnant eurozone economy in July. Meanwhile, China awaits trade and inflation data after a decline in new manufacturing orders, despite a rise in manufacturer confidence. In the tech sector, giants like Microsoft, Meta, Apple, and Amazon reported mixed earnings, heavily investing in AI technology. However, investor patience is waning as they seek concrete returns on AI investments, highlighted by recent poor performances from Alphabet, Tesla, and Microsoft. Only Meta's stock has risen post-Alphabet’s earnings, indicating a shift as mere AI promises no longer excite the market.