Un August thrilling for the Bags. The most unpredictable month of the year for the markets has given us a journey on the roller coaster, with a stormy start that left everyone breathless, and then ended on a high note. Markets not only recovered ground, but also reached and, in some cases, exceeded the all-time highs of 2024. Inflation and growth data restored confidence in central banks and banished the spectre of recession in the United States, fueling an exciting recovery. But beware: theexcess of optimism could present the bill.
Stock Market Finals: Who Shined in August?
In a busy August, the Ftse Eb of Piazza Affari closed on a positive note, exceeding 34 thousand points thanks to a rise of 0,53% on Friday and a final balance of 1,8%. Frankfurt It stood out with new records, marking a +2,15%, despite the German economic challenges. Paris followed with a more modest +1,3%. More timid London with a +0,10%, while Amsterdam saw a decline of 0,2%.
At Piazza Affari, Ferrari was the undisputed protagonist, with a jump of 17,56%, followed by nexi (+ 11,24%) and Generali (+3,97%). In contrast, Tenaris saw a drop of 9,97%, but recovered with a +3,9% in the last week. Saipem e Bper suffered losses of 7,6% and 6,33% respectively.
overseas, Wall Street closed August in positive territory with S & P 500 at +2,28%, the seventh positive month out of eight in 2024, Dow Jones at +1,76% and Nasdaq Composite at +0,65%. However, the Bloomberg Big Seven index saw a 0,5% red, influenced by the decline of Tesla (-7,74%), A (-4,76%) And Amazon (-4,53%). Microsoft limited the damage with a -0,29%, while Meta shone with a +9,74%. Apple gained 3,12% and Nvidia closed with a +2%, despite the -7% in the last sessions due to the accounts that did not pulverize the forecasts.
Tokyo, the epicentre of the financial “earthquake” at the beginning of August, is also recovering: Nikkei closed at a modest +0,32%.
For Petroleum, August was a month to forget: WTI lost 5,6% and 1,3% in the last week alone due to tensions in the Middle East and Libya blocking crude oil exports. Instead, thegold shined with a 2,2% gain for the month, although it gave up some ground with a 0,4% decline in the last week.
Markets too confident?
The risk of a rude awakening is just around the corner. Even if recent inflation data in Europe and the United States have brought some calm and reduced volatility, there is no reason to lower our guard. The Investors they look a bit too sure of the next moves by central banks, especially the Fed. Current market expectations are for a 100 basis point rate cut in three meetings, one of which will be right after the US presidential election. But a small jolt could come soon, with themonthly job market update: after all, it was from there that one of the sparks of the storm at the beginning of the month started.