US Stock Markets Plunged After Robust Economic Data

 

10/01/202503/01/2025% Change
BLOM Stock Index2,702.692,595.984.11%
Average Traded Volume3,288,11957,8275586.16%
Average Traded Value1,724,60045,0373729.27%
Market Cap27,700,228,543.2926,606,622,882.94

The BLOM Stock Index (BSI) compiled by BLOM Invest Bank daily rose weekly by 4.11% to 2,702.69 points on January 10th, 2024.

On the Beirut Stock Exchange (BSE), the real estate sector dominated trading, accounting for 90.21% of the exchange’s total trading value, while the remaining were by the banking sector (5.91%) and industrial sector (3.88%). The most noteworthy trades throughout the mentioned period included:

10/01/202503/01/2025% Change
Solidere A1261186.78%
Solidere B1251185.93%
BLOM Listed56.25-20.00%
BLOM (GDR)5.35.172.51%
Audi Listed2.552.482.82%
Byblos (C)1.251.158.70%

It is to be noted that after the election of Army Commander Joseph Aoun as a new president, Solidere A and Solidere B increased by 5.88% and 14.05% in a single trading day, showing optimism and confidence that the newly elected president will have a positive impact on Lebanese economy. It is expected that after the election, Lebanon will receive investments and assistance from Arab countries.

 

10/01/202503/01/2025% Change
BLOM Preferred Shares Index27.5227.52-0.94%

As for the BLOM Preferred Shares Index (BPSI), it remained 27.52 on January 10th, 2025.

 

IndexCurrency10/01/202503/01/2025% Change
S&P 500USD5,918.255,942.47-0.41%
Dow JonesUSD42,635.2042,732.13-0.23%
NASDAQ CompUSD19,478.8819,621.68-0.73%

*Prices are as of the time of writing this report

 

US stock markets declined over the course of the week. S&P 500, Dow Jones, and NASDAQ decreased by 0.41%, 0.23%, and 0.73% respectively recording 5,918.25, 42,635.20, and 19,478.88. The decrease was driven by strong economic data that lowered expectations of Federal Reserve performing more interest rate cuts later this year. Latest report of Institute for Supply management revealed growth in US services sector surpassed forecasts.  In addition, US job openings reached highest numbers in 6 months and recorded around 8.1 million jobs beating expectations of 7.7 million.

 

IndexCurrency10/01/202503/01/2025% Change
DAXEUR20,349.4919,906.082.23%
FTSE 100GBP8,302.368,223.980.95%
CAC 40EUR7,507.897,282.223.10%
STOXX600EUR515.52508.191.44%

*Prices are as of the time of writing this report

Across the Atlantic, main European stock markets rose over the course of the week although newly elected US President Donald Trump denied rumors that his tariff plans will be less severe than initially mentioned. Not only that, President Trump is considering announcing a national economic emergency to provide legal justification for hefty universal tariffs.

 

IndexCurrency10/01/202503/01/2025% Change
NIKKEIJPY39,190.4039,894.54-1.77%
Hang SengHKD19,064.2919,760.27-3.52%
Shanghai CompCNY3,168.523,211.43-1.34%

*Prices are as of the time of writing this report

Asians stock markets imitated US stock market and declined this week with Hong Kong’s equities leading the decrease by 3.52% to record 19,064.29. Asian stock markets declined due to China’s economic outlook and listing of Chinese tech companies on the blacklist supposedly aiding China’s military including the tech giant and battery maker CATL.

 

IndexCurrency10/01/202503/01/2025% Change
MSCI Emerging MarketUSD1,066.471,073.21-0.63%

*Prices are as of the time of writing this report

As for the MSCI Emerging Market index, it also fell this week by 0.63% to record 1,066.47 points.

 

IndexCurrency10/01/202503/01/2025% Change
S&P Pan Arab USD1,001.74996.610.51%
EGX30 – EgyptEGP29,444.6530,060.48-2.05%
Saudi Stock ExchangeSAR12,097.7512,102.55-0.04%
Qatar Stock ExchangeQAR10,441.5310,571.09-1.23%
Abu Dhabi Securities ExchangeAED9,497.389,322.751.87%
Dubai Financial MarketAED5,231.265,153.331.51%

*Prices are as of the time of writing this report

Arab stock markets fluctuated this week as S&P Pan Arab and Emirati equities rose while that equities of Egypt, Saudi Arabia and Qatar declined.

 

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