COMPARISON OF THE INFLUENCE OF ECONOMIC CRISES AND NATIONAL ECONOMIC INDICATORS ON THE AMERICAN AND CZECH FINANCIAL MARKETS IN THE YEARS 2006–2021

This diploma thesis analyses price movements of stock index S&P 500 and PX. The theoretical part presents basic economic theories and concepts, which are then used in the practical part. Literary research deals with the origin of crises in the analyzed period and with the related behaviour of stock indexes, including correlation between macroeconomical indicators and stock prices. The practical part follows with analyses of stockcindexes during the given period, using monthly and yearly volatilities, with special attention dedicated to the financial crisis 2008–2009 and Covid-19 crisis, where interday volumes of trade and basic moving averages are used. The development of stock indexes is explained by regression analyses in relation to national economic indexes – GDP, inflation and monetary policy rates. Such analyses are especially improtant in the unstable finacial environment of the Covid-19 crisis, since past movements can be used for partial prediction of future developments. The text mainly confirms assumptions about stock prices movements with relation to the developments of their moving averages and trade volumes. Theory about the influences of macroeconomical indicators on the stock index development is confirmed for S&P 500, but not for PX. The text is unique in its approaach to stock analysis in combination with other variables.