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2020-08-11

The stock market rally continues, with a golden finger

Supported by 1.8 million new jobs created in the US economy, the S&P500 index gained 2.4 percent last week. We have seen a summer rally in New York, but where the rising gold price has been the most spectacular event.

The S&P500 index is up by 8.1 percent since 30 June. While Nasdaq stocks are still very much on the news agenda, Nasdaq is not singly driving this stock market race anymore. Increased tensions between US and China, nor a sharp Q2 2020 earnings decline for the S&P500  companies seems to worry investors.

The most remarkable price movement during July is the sharp increase in the gold price to levels it has never previously been traded at. The question arises what kind of indication this is for the strong stock market supported by gigantic central bank programs.

Find out more in our weekly letter on certificates.vontobel.com: Read the weekly newsletter here.

About Carlsquare


Carlsquare is a Pan-European research firm and financial advisor, focusing on M&A, Equity
Research and Growth Equity. Carlsquare has 70+ employees with deep sector knowledge in all 11
GICS sectors. The senior equity research team have an extensive experience about the stock
environment and several business sectors. The team produces company research reports,
independent valuations and trading notes. The group have offices in Berlin, Copenhagen,
Hamburg, London, Munich and Stockholm. Read more

Contact
MARKUS AUGUSTSSON
Head of Equity Research
markus.augustsson@carlsquare.com
+46 (0)76 235 03 20

About Vontobel:

As a globally operating financial expert with Swiss roots, Vontobel specializes in wealth management, active asset management and investment solutions. Digital Investing bundles different investment solutions for private investors either directly or via ecosystems. Read more

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The stock market rally continues, with a golden finger

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