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AHR Weekly Market Update - Monday 16th September
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Welcome to this week’s AHR market review for the week ending 15th September 2024.
The major global stock indices staged a sharp recovery, posting weekly gains of between 3% and 6%, effectively reversing the steep losses seen the previous week.
Midweek, equity markets initially tumbled following the release of U.S. inflation data, which showed that core inflation (excluding food and energy) edged up by 0.3% in August—slightly above consensus forecasts.
Across the Atlantic, the European Central Bank (ECB) cut its deposit rate for the second time this year, lowering it by a quarter-point to 3.5%, in line with expectations.
US equities surged by over 4% for the week, led by a 6% rally in the tech sector.
Looking ahead, all eyes are on the U.S. Federal Reserve’s two-day meeting, concluding on Wednesday, where the central bank is widely expected to deliver its first rate cut since early 2020.
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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