{"id":612717,"date":"2023-12-27T00:00:00","date_gmt":"2023-12-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/27\/sp-500-approaches-all-time-high\/"},"modified":"2023-12-27T00:00:00","modified_gmt":"2023-12-27T00:00:00","slug":"sp-500-approaches-all-time-high","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/27\/sp-500-approaches-all-time-high\/","title":{"rendered":"S&P 500 approaches all-time high"},"content":{"rendered":"

It\u2019s another quiet morning on Planet Finance <\/strong>with a number of markets (LSE, for example) off for Boxing Day and plenty of traders staying home in the last, quiet week of the year. <\/p>\n

S&P 500 nears all-time high: <\/strong>S&P 500 rose 0.4% during yesterday\u2019s trading, closing about 0.5% away from its all-time high as expectations of the US Federal Reserve moving forward with rate cuts in 2024 keep market sentiment high, Bloomberg<\/a> wrote. <\/p>\n

The Nikkei and shares in Australia are up in early trading this morning<\/strong>, Shanghai is flat, and Hong Kong is shaking off a two-day holiday. Aussie shares are at a two-year high, CNBC<\/a>. Shares in Europe look set to open in the green later this morning, while Wall Street could dip into the red at the opening bell. <\/p>\n

ALSO WORTH MENTIONING-<\/strong><\/p>\n

Banking sector slashed over 60k+ jobs this year: <\/strong>Twenty of the world\u2019s biggest banks cut at least 61.9k jobs in 2023, making it one of the worst years for layoffs since the 2008 financial crisis, when the same lenders eliminated 140k jobs. (Financial Times<\/a>)<\/p>\n

<\/a><\/a> <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

23,995<\/p>\n<\/td>\n

\n

-1.0% (YTD: +64.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 30.83<\/p>\n<\/td>\n

\n

Sell 30.96<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 30.85<\/p>\n<\/td>\n

\n

Sell 30.95<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

19.25% deposit<\/p>\n<\/td>\n

\n

20.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

11,873<\/p>\n<\/td>\n

\n

+0.5% (YTD: +13.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9,517<\/p>\n<\/td>\n

\n

+0.3% (YTD: -6.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

4,029<\/p>\n<\/td>\n

\n

+0.3% (YTD: +20.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,775<\/p>\n<\/td>\n

\n

+0.4% (YTD: +24.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,698<\/p>\n<\/td>\n

\n

0.0% (YTD: +3.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

4,521<\/p>\n<\/td>\n

\n

-0.1% (YTD: +19.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 81.07<\/p>\n<\/td>\n

\n

+2.5%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 2.55<\/p>\n<\/td>\n

\n

-2.3%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 2,079<\/p>\n<\/td>\n

\n

0.0%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 42,482<\/p>\n<\/td>\n

\n

-2.7% (YTD: +156.9%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

\n

THE CLOSING BELL-<\/p>\n

The EGX30 fell 1.0% at yesterday\u2019s close<\/strong> on turnover of EGP 3.2 bn (2.3% below the 90-day average). Local investors were net sellers. The index is up 64.4% YTD.<\/p>\n

In the green: <\/strong>Beltone Financial Holding (+5.1%), Abu Qir Fertilizers (+3.4%) and Ezz Steel (+3.3%).<\/p>\n

In the red: <\/strong>ADIB (-5.0%), Palm Hills Development (-3.6%) and GB Corp (-3.5%).<\/p>\n

\n

CORPORATE ACTIONS-<\/p>\n

Mopco back to trading tomorrow:<\/strong> Mopco\u2019s shares will resume trading on the EGX tomorrow after a three-day voluntary halt, following its merger with subsidiary, the Egyptian Nitrogen Products Company (ENPC), according to an EGX disclosure (pdf)<\/a>. Mopco\u2019s eligible shareholders tomorrow will receive new shares resulting from the merger at a ratio of 8.07 new shares for each share held before the combination of the two businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s another quiet morning on Planet Finance with a number of markets (LSE, for example) off for Boxing Day and plenty of traders staying home in the last, quiet week of the year. S&P 500 nears all-time high: S&P 500 rose 0.4% during yesterday\u2019s trading, closing about 0.5% away from its all-time high as expectations […]<\/p>\n","protected":false},"author":1,"featured_media":612718,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[72,119,122,121],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-612717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-enterpriseam","tag-financial-markets","tag-planet-finance","tag-sp-500","wpautop","entry"],"acf":{"mongo_id":"c67f8204-550a-47e4-af9b-a1b53b716348","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/1796.jpg","photo_position":"above","homepage_title":"","full_issue_title":"S&P 500 approaches all-time high","related_issue":[612699],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.0093733a-fc94-4300-b439-dde2b5b65b27.mp3"},"yoast_head":"\nS&P 500 approaches all-time high - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/27\/sp-500-approaches-all-time-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&P 500 approaches all-time high\" \/>\n<meta property=\"og:description\" content=\"It\u2019s another quiet morning on Planet Finance with a number of markets (LSE, for example) off for Boxing Day and plenty of traders staying home in the last, quiet week of the year. 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The S&P 500 climbed 0.6% to an all-time high, while the Nasdaq\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557399,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/short-term-pain-for-long-term-gain-is-wall-streets-motto-at-the-moment\/","url_meta":{"origin":612717,"position":1},"title":"Short-term pain for long-term gain is Wall Street\u2019s motto at the moment","author":"enterpriseam admin","date":"16 September 2021","format":false,"excerpt":"Short-term pain for long-term gain is Wall Street\u2019s motto at the moment: Option trading shows that implied volatility has climbed, but the actual level of price swings has mellowed down, according to a Sundial Capital note seen by Bloomberg. That means that \u201cin the short term, options traders are \u2018smarter,\u2019\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556422,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/25\/from-fertiglobe-to-yet-another-regional-vc-fund-its-a-relatively-quiet-start-to-the-week-for-global-markets\/","url_meta":{"origin":612717,"position":2},"title":"From Fertiglobe to yet another regional VC fund, it\u2019s a relatively quiet start to the week for global markets","author":"enterpriseam admin","date":"25 October 2021","format":false,"excerpt":"Trading of Fertiglobe\u2019s shares is due to begin tomorrow on the ADX, after the fertilizer producer raised some USD 795 mn in an IPO last week with an offering of a 13.8% stake at AED 2.55 apiece, according to its prospectus. The listing was 22x oversubscribed and made the company\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549825,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/02\/surprising-no-one-us-stocks-close-3q-in-the-red-a-sparkling-debut-for-salik\/","url_meta":{"origin":612717,"position":3},"title":"Surprising no one, US stocks close 3Q in the red + A sparkling debut for Salik","author":"enterpriseam admin","date":"2 October 2022","format":false,"excerpt":"US stocks closed in the red for the day, the week, the month and the quarter by the end of Friday\u2019s trading session, closing another terrible three months for financial markets that have been roiled by rising interest rates and the fallout from the war in Ukraine, CNBC reports. The\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542872,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/20\/nasdaq-falls-into-correction-as-tech-exit-continues-early-swvl-investors-eye-africa-spac\/","url_meta":{"origin":612717,"position":4},"title":"Nasdaq falls into correction as tech exit continues + Early Swvl investors eye Africa SPAC","author":"enterpriseam admin","date":"20 January 2022","format":false,"excerpt":"Nasdaq enters correction as Wall Street sell-off continues: The sell-off in US tech stocks continued yesterday, leaving the Nasdaq down 10.7% from its November peak and officially putting it in correction territory. The tech-heavy index fell another 1.2% during the trading session as investors continued to exit growth stocks in\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543762,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/16\/planet-finance-new-york-stock-exchange-sets-nft-crypto-trading-in-its-sights\/","url_meta":{"origin":612717,"position":5},"title":"Planet Finance: New York Stock Exchange sets NFT + crypto trading in its sights","author":"enterpriseam admin","date":"16 February 2022","format":false,"excerpt":"NYSE stakes a claim on cryptocurrency + NFT trading: The New York Stock Exchange has filed an application with the US patent and trademark office to provide an online marketplace for non-fungible tokens (NFTs) and cryptocurrencies, which could one day see it compete with NFT marketplaces like OpenSea and Rarible.\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/612717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=612717"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/612717\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/612699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/612718"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=612717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=612717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=612717"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=612717"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=612717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}