News

Global markets were higher on Friday (S&P 500 index +0.7%) with US markets at fresh highs and the dollar weakened to a 2-year low as the Federal Reserve’s new inflation approach was digested by global markets.

Investors digested the US Federal Reserve’s new strategy to adopt an average inflation target and restore the United States to full employment.

Global markets were higher overnight (US S&P 500 Index +1.0%) as optimism over potential medical advances in the war against the covid-19 pandemic.

Global markets were mixed overnight (US S&P 500 Index +0.4%) in quiet trade.

Global markets were higher overnight (US S&P 500 Index +1.0%) as Wall street continues to rally to new all-time highs.

In terms of the week ahead, investors will be looking for guidance from the world’s Central Bankers as they meet (virtually) at the Jackson Hole symposium.  The topic this year is “Navigating the Decade Ahead: Implications for Monetary Policy”.

The bear market that started in late February for the US S&P 500 is the shortest in its history

The Federal Reserve, despite its efforts to support the economy, raised concerns that the US economic recovery from the devastating effects of the pandemic continues to face a highly uncertain path – denting investor sentiment. 

Closer to home, while the overall index moves in NZ and Australia have been relatively muted of late, under the hood there are big individual stock moves as we move through reporting season.