59.63 0.00 (0.00%)
After hours: 4:36PM EDT
|Bid||56.41 x 200|
|Ask||60.99 x 200|
|Day's Range||59.43 - 59.72|
|52 Week Range||53.49 - 63.60|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.10%|
Key economic indicators that investors should watch for this week are as follows: the Eurozone consumer confidence index the German Ifo business climate index Eurozone inflation UK inflation the German ZEW economic sentiment index the Eurozone ZEW economic sentiment index
The euro-US dollar (FXE) exchange rate closed the week ending April 20 at 1.23. The exchange rate depreciated 0.35% against the US dollar (UUP). The US dollar appreciated last week. The euro was stuck by weaker-than-expected economic data and dovish comments from German Bundesbank Chairman Jens Weidmann and European Central Bank Chairman Mario Draghi. Weidmann said that the first quarter growth in Germany wasn’t expected to be good. Draghi said that the Eurozone’s expansion cycle might have peaked.
The euro-US dollar (FXE) exchange rate closed the week ended April 13 at 1.2, with the euro appreciating 0.39% against the dollar (UUP). The European currency, which failed to capitalize on the weaker US dollar, was impacted by soft economic data and cautious comments from the ECB (European Central Bank). The ECB keeps pushing away any talk of tightening, leaving investors wanting more as the economy seems to be on a continued path of recovery.
Eurozone (EZU) (VGK) investor confidence has shown continued weakness so far in April 2018. The Sentix investor confidence index stood at 19.6 in April 2018 as compared to 24.0 in March 2018 and didn’t beat the market expectation of 21.2. The index has been declining gradually since January 2018, which shows that investor confidence has been weakening.
According to a report by Markit Economics, the final Eurozone services PMI (purchasing managers’ index) showed a weaker rise in March 2018. It stood at 54.9 in March as compared to 56.2 in February 2018. The PMI figure was marginally below the preliminary market estimate of 55. It was the weakest expansion in service activity since August 2017.
According to Markit Economics, the final Spain services PMI showed a weaker rise in March as compared to February 2018. It stood at 56.2 in March as compared to 57.3 in February 2018. The PMI figure met the preliminary market estimate of 56. It was the weakest expansion in service activity since January 2018.
According to data provided by Markit Economics, the final Markit France services PMI (purchasing managers’ index) weakened again in March 2018. It stood at 56.9 in March 2018 as compared to 57.4 in February 2018. The reading met the initial estimate of 56.8 and was the slowest expansion in services activity since September 2017.
According to a report by Markit Economics, Spain’s manufacturing PMI stood at 54.8 in March as compared to 56 in February 2018. The March PMI figure met the preliminary market estimate of 54.8, but it was the lowest expansion in factory activity since October 2017.
According to a report by Markit Economics, Germany’s final manufacturing PMI (purchasing managers’ index) stood at 58.2 in March as compared to 60.6 in February 2018. The PMI figure was slightly below the preliminary market estimate of 58.4. Germany’s manufacturing PMI witnessed a massive drop in performance in March 2018.
Once again interest rates are rising along with commodity prices. This economic upturn has been the slowest post-war expansion we have experienced and is soon to become the longest. Consequently, the global economic expansion has taken longer than expected but is gaining momentum.
Among the various emerging economies, Russia plays an important role. The Russian economy grew at an annualized rate of 1.8% in 3Q17 compared to 2.5% in 2Q17. The Russian economy grew at a rate of 1.5% in 2017 compared to its contraction of 0.2% in 2016.
During his keynote at the tenth conference organized by the International Research Forum on Monetary Policy in March 2018, Boston Federal Reserve president Eric Rosengren said that the United States has been lagging behind some European economies (VGK), which are building excess fiscal policy buffers by following austerity measures. Recently, the Trump administration has announced tax cuts for businesses and individuals and proposed increased spending, adding to the fiscal deficit. Total US debt has now surpassed $21 trillion and it is expected to increase further as the government deficit is likely to balloon in the months ahead.
The world economy is growing, the U.S. economy is growing, and nothing seems radically out of balance in terms of government policy. A central question that one of our investing themes at VanEck looks to address is, “Do you have strategies in your portfolio that will actually adjust to bear market signals?” After 10 straight years of seeing the market going up, it may be hard to think about anything else, but the time may have come for investors to start positioning themselves for a correction. Global economic growth is expected to continue the momentum it has set in the last few quarters.
Interest rates globally are “normalizing”, kickstarted by the U.S. about two years ago when it stopped quantitative easing and started increasing interest rates. Europe is about two years behind the U.S. on this and is showing signs of tightening. The European Central Bank has started reducing its bond purchases, which is a sign that interest rates could turn positive, but it has a trickier market dynamic to navigate.
Jan van Eck, CEO, shares his investment outlook. U.S. interest rates are continuing to rise, and Europe looks almost ready to follow suit. As interest rates start to “normalize”, opportunities are opening up in emerging markets and commodities.
The excitement surrounding the tournament and its impact on the stock world has led investors to look at ETFs that could act as a proxy for the game.