Treading water, Micron outlook and IPO nightmare Treading water, Micron outlook and IPO nightmare Treading water, Micron outlook and IPO nightmare

Treading water, Micron outlook and IPO nightmare

Equities 5 minutes to read
Peter Garnry

Head of Saxo Strats

Summary:  Equity markets have zero momentum left and some markets are even rolling over such as KOSPI 200 which still finds itself in a bear market. Macro figures continue to be weak and next week's crucial US PMI figures could end up being crucial for market sentiment. While the general equity market sees little energy IPO stocks are broadly under pressure with Peloton shares down on their first day of trading.


Judging from yesterday’s equity session markets are clearly treading water with no direction in mind. Macro figures continue to indicate the economic slowdown will continue and last night after the US close Micron Technology delivered a worse than expected outlook for its current fiscal quarter citing US-China trade war uncertainty and general economic uncertainty. Micron’s outlook will drag down other semiconductor stocks and the change in sentiment was evident in Asia with KOSPI 200 down for the third straight day. South Korean equities remain in a bear market and is a good thermostat on the China and global manufacturing growth.


Boulevard Plaza, Tower 1, 30th floor, office 3002
Downtown, P.O. Box 33641 Dubai, UAE

Contact Saxo

Select region

UAE
UAE

Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

Saxo Bank A/S is licensed by the Danish Financial Supervisory Authority and operates in the UAE under a representative office license issued by the Central bank of the UAE.

The content and material made available on this website and the linked sites are provided by Saxo Bank A/S. It is the sole responsibility of the recipient to ascertain the terms of and comply with any local laws or regulation to which they are subject.

The UAE Representative Office of Saxo Bank A/S markets the Saxo Bank A/S trading platform and the products offered by Saxo Bank A/S.