The AEX price seems to be slowly climbing out of its trough and rose to the level of 894 points yesterday. That is interesting, because the American stock market had a light red day yesterday. Is this the moment when capital flows will reverse again?
Are capital flows turning?
More and more analysts are coming to the conclusion that the American market is quite expensive. Of course, this does not necessarily mean that the bull market for the S&P 500 and Nasdaq will come to an end, but there will come a time when investors will start looking at other markets again.
If the price/earnings ratios in America are much, much higher than in Europe, then it may be interesting to send some capital there.
If the European stock markets then start to rise, it could attract the attention of more investors and partly reverse the flow of capital to the United States to Europe.
This is not yet the case, but the AEX seems to be gaining some momentum again. Relatively speaking, the momentum of the AEX has at least increased compared to the S&P 500 and Nasdaq.
But if we look at the big picture, it is still far too early to draw conclusions.
Important day in America
In any case, today will be an important day in America. We receive a lot of data about the American labor market, which may tell us that the prospects for economic growth there are a bit too positive.
That would in turn lead to more interest rate cuts, but may also result in a temporary ceiling for US equities.
We’ll see, but the next few hours promise to be quite important for the weeks ahead. The same applies to next Wednesday, when it will be time again for an American consumer price index.
The last before the US central bank makes a new interest rate decision on December 18.
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Source: https://newsbit.nl/aex-koers-stijgt-opnieuw-en-nadert-900-punten/
