Market Update – 1st May 2024. - 1st May 2024
Following on from promising GDP growth in Q1 that exceeded forecasts, reports on Tuesday revealed that China’s manufacturing sector has expanded for the second month in a row
Following on from promising GDP growth in Q1 that exceeded forecasts, reports on Tuesday revealed that China’s manufacturing sector has expanded for the second month in a row
Markets rallied this week as a busy week of earnings reports got underway and investors look to a full week of key economic data.
It has been a choppy week for markets as investors have considered some pieces of key economic data and have kept an eye on tensions within the Middle East.
The consumer confidence index for Japan came in hot on Tuesday at highs not seen since May 2019.
Markets were jittery early in the day on Wednesday as investors awaited the fallout from one of Taiwan’s most significant earthquakes since 1999.
This week has seen a relatively calm demeanour following the recent flurry of central bank interest rate decisions.
This week is packed with central bank interest rate decisions, giving markets plenty to digest.
The FTSE 100 reached its highest level since May last year rising by 1% yesterday, driven by optimism arising from the slowdown in wage growth which heightened expectations for forthcoming interest rate cuts.
In the US, markets have taken a breather after last week’s rally, gearing up for a busy week featuring the latest Q4 GDP estimate, the Federal Reserve’s preferred measure of inflation, Core PCE as well as manufacturing PMIs.
It has been a relatively calm week for markets thus far, with the US observing Presidents’ Day on Monday.