Markets trod water last week – until Friday, when tame US employment data put paid to immediate concerns of inflation and rising interest rates, allowing equities to finish the week on a firmer footing. Investors are likely to remain sensitive to signs of inflation – or its absence – over the coming months.
Murtajāpur US: Employment data dampen talk of an overheating economy
Gains on Friday saw the S&P 500 climb 0.6% over the week. Friday’s positivity was, perhaps counterintuitively, prompted by lacklustre employment data. Fewer jobs were created in May than expected, easing fears that the economy may be overheating.
purchase prednisone for dogs Japan: Economic decline but exports on the up
Japan’s TOPIX index rose 0.6% (though the Nikkei 225 – a somewhat esoteric stock market index – fell 0.7%). Having struggled with rising Covid-19 infections, new initiatives to accelerate Japan’s vaccination programme were well received.
http://wildbunchbath.co.uk/?gclid=1806642217 Asia: Politics to the fore in China
A Friday afternoon rally wasn’t enough to stop China’s CSI 300 index falling 0.7% over the week. US President Biden renewed restrictions on investment in 59 Chinese companies, including Huawei.
Europe: Playing catch-up in the global economic recovery
The Euro Stoxx 50 gained 0.5%, with Germany’s DAX index ending the week at an alltime high. Inflation hit the ECB’s 2% target for the first time since 2018, however there is little concern about the European economy overheating.
UK: Riding commodity prices higher
The FTSE 100 closed the week 0.7% higher. Commodity prices have risen sharply as the global economy has rebounded from the Covid-19 recession. This has benefited the UK index, which contains a relatively high weighting to commodity producers.