AHR Weekly Market Update - Monday 1st July

AHR Weekly Market Update Podcast

Welcome to this week’s AHR market review for the week ending 30th June 2024.

Global equity markets were mixed in a week that saw the end of June and the end of the first half of the year.

The first half of the year witnessed continued enthusiasm for artificial intelligence, propelling mega-cap technology names to deliver exceptional gains.

The technology and communication services sectors were at the forefront of performance, posting first-half returns exceeding 25%.

In economic news, the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, decelerated to 2.6% year-on-year in May, marking its lowest annual rate in over three years.

US equities were mixed over the week, remaining near record highs.

Looking ahead, all eyes will be on the forthcoming monthly US labour market report, set to be released this Friday.

As we approach earnings season, which kicks off in mid-July with major banks reporting their second-quarter results, expectations remain buoyant.

That’s all for this week’s AHR Weekly Podcast. Thank you for listening and for further investment insights head over to ahrprivatewealth.com.