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AHR Weekly Market Update - Monday 2nd September
Manage episode 437653489 series 2891086
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Welcome to this week’s AHR market review for the week ending 1st September 2024.
Global equity markets etched out modest gains during a week which saw further signs of cooling inflation from the US and Europe, along with an eagerly anticipated earnings announcement from one of the world’s largest companies.
The most closely watched data point was probably the US Labour Department’s release of its core personal consumption expenditures (PCE) price index on Friday morning.
Headline annual inflation in the eurozone also decelerated to 2.2% in August from 2.6% in July, the lowest level in three years and a shade above the ECB’s 2% target. Higher energy costs a year ago were partly responsible for the decline.
In company news, Nvidia published another impressive set of quarterly earnings.
Over the week US equities were slightly positive, up around 0.2% whilst US Technology fell almost 1% driven in part by the volatility of Nvidia following their ‘great’ but ‘not quite good enough’ earnings announcement.
In commodities gold futures pushed their record levels higher for the fifth week in a row, and the commodity briefly topped $2,560 per ounce on Friday morning.
That’s all for this week’s AHR Weekly Podcast. Thank you for listening and for further investment insights head over to ahrprivatewealth.com
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