The Impact of US Macroeconomic News on the Prices of Single Stocks on the Vienna Stock Exchange
DOI:
https://doi.org/10.24425/cejeme.2021.139799Keywords:
event study, macroeconomic announcements, intraday dataAbstract
Recent studies have shown that announcements of information about the
state of the US economy have had a significant impact on European stock
markets. However, the importance of information about the US economy may
vary in time. In order to analyze this issue, we examine the impact of
announcements of unexpected US macroeconomic news on the prices of selected
stocks listed on the Vienna Stocks Exchange. On the basis of the 5-minute
returns of 13 stocks we examine how the strength and the significance of the
reactions of investors to unexpected macroeconomic news from the US has
changed over the last 15 years. Event study methodology allows us to describe
precisely such reactions in the first minutes after news announcements.
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Copyright (c) 2025 Henryk Gurgul, Capital Solutions Advisory GmbH, Graz, Austria;, Tomasz Wójtowicz
This work is licensed under a Creative Commons Attribution 4.0 International License.
