News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Heads Up:🇰🇷 Consumer Confidence (OCT) due at 21:00 GMT (15min) Previous: 103.8
  • RT @therecount: In a 17-0 vote with 1 abstention, the FDA advisory committee approves the use of Pfizer's COVID vaccine for children aged 5…
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.19% Gold: -0.80% Silver: -1.66% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.56%, while traders in Wall Street are at opposite extremes with 74.17%. See the summary chart below and full details and charts on DailyFX:
  • AMD Earnings Summary REV. $4.3B vs. EST. $4.12B EPS: $0.73 vs. EST. $0.67 $AMD
  • Yikes.
  • Twitter Earnings Summary REV. $1.284B vs. EST. $1.285B EPS: ($0.54) vs. EST. $0.15 $TWTR
  • Hefty beat from Google as well. After hours reaction thus far also tepid. Not looking good for the underlying sense of enthusiasm that has carried markets to record highs these past few days despite a lack of tangible data
  • Google (Alphabet) Earnings Summary REV. $65.12B vs. EST. $63.39B EPS: $27.99 vs. EST. $23.50 $GOOGL
  • Clean beat on top and bottom line, but Microsoft's immediate response is very tame at +0.3% after hours
Equities Q4 Forecast: Global Stocks’ Strength Masks Vulnerabilities

Equities Q4 Forecast: Global Stocks’ Strength Masks Vulnerabilities

Global share prices accelerated upward in the third quarter, building on the rebound started in the preceding three months. The benchmark MSCI World stock index is on pace to add 5-6 percent for the period. That such performance can be had against a backdrop of a deepening trade war between the US and China as well as increasing emerging market instability is almost improbably impressive. One might conclude perseverance against such odds speaks to hearty underlying strength, making continuation likely. Still, critical vulnerabilities are much too glaring to ignore; the global economy has decelerated in 2018.

The Global Economy Seems to be Losing Steam in 2018 (Chart 1)

Equities Q4 Forecast: Global Stocks’ Strength Masks Vulnerabilities

Heading into the end of the year, upside resolve may be put to the test for the US S&P 500; but until we see big levels break on the downside, the trend for U.S. stocks will remain pointed higher. In terms of the German DAX 30, heading into the previous quarter, we said that a broad head-and-shoulders pattern, with its beginnings dating back over a year, could come into play. Another three months later and the index is flirting with this scenario becoming a reality. The UK FTSE 100 is on similar footing as its German counterpart. After several months of sideways trading the Japanese Nikkei 225 is sitting with better posturing than both the DAX and FTSE, but is still lagging behind the S&P 500.

Check out other fourth quarter forecasts and the full equity forecast here.

--- Written by Ilya Spivak, Senior Strategist and Paul Robinson, Market Analyst

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.