Episodes
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Welcome to this week’s AHR market review for the week ending 24th November 2024.
US equities led global markets this week, with the S&P 500 advancing around 2% as small-cap and value stocks outperformed growth counterparts.
Investor sentiment was buoyed by economic data from the US, where initial jobless claims fell unexpectedly to 213,000, the lowest level since April 2024.
Adding to the upbeat tone, nearly all third-quarter earnings results are now in, with S&P 500 companies on track to post an average year-over-year growth of 5.8%.
In the UK, inflation pressures mounted significantly in October.
Despite this, UK equities emerged as a standout performer among European markets, rising 2.5% over the week.
After a sharp decline the prior week, US crude oil prices rebounded, gaining more than 6% to trade above $71 per barrel on Friday.
In the cryptocurrency market, Bitcoin extended its record-breaking rally, climbing above $99,000 by week’s end.
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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Welcome to this week’s AHR market review for the week ending 17th November 2024.
Global equity markets retreated for the week, giving back much of the previous weeks gains, as investors digested what the incoming US presidents proposed policies might mean for the global economy.
US consumer prices rose as expected in October, driven largely by higher shelter costs such as rents. The pace of progress toward lower inflation has slowed in recent months, potentially limiting the number of interest rate cuts the Federal Reserve may implement next year.
Underlying inflation remained slightly elevated, though expectations remain for a third rate cut from the Federal Reserve in December.
The UK economy slowed more than expected in the three months to September, with GDP growth slipping to 0.1% from 0.5% in the previous quarter.
The services sector, which grew by a modest 0.1%, provided little support, while the construction sector was a rare bright spot, expanding by 0.8%.
Major US retailers wrapped up earnings season, with S&P 500 companies on track to post a 5.4% increase in third-quarter earnings compared to a year earlier.
Over the week US equities fell around 2% with US technology falling over 3%. European equities followed suit, falling over 2% as concerns of the new US President’s trade policies unsettled investors.
Perhaps the most notable performance since the US election result has been that of Bitcoin.
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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Welcome to this week’s AHR market review for the week ending 10th November 2024.
US equities surged to their best weekly performance in over a year, as a decisive result in the US presidential election lifted a cloud of uncertainty from the markets.
With Republicans securing control of the presidency, Senate, and potentially the House, the stock market responded with its strongest post-election rally on record.
The Federal Reserve’s latest policy decision underscored a more cautious approach, with a 25-basis-point cut bringing the federal funds rate to 4.5%-4.75%.
Across the Atlantic, the Bank of England mirrored the Fed’s gradual shift towards easing, lowering its key rate by a quarter-point to 4.75% amid falling inflation.
All major US equity markets hit record highs during the week, with Wednesday’s election results the catalyst for the move.
Meanwhile, US Treasury yields saw substantial volatility, with the 10-year yield surging briefly to 4.48% in mid-week trading before retreating to close around 4.30% on Friday, down from 4.37% the previous week.
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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Welcome to this week’s AHR market review for the week ending 3rd November 2024.
In what began as a relatively subdued week for markets, Thursday saw a jolt of volatility, with stocks taking a tumble as fresh worries over the growth potential of technology shares and artificial intelligence rattled investors.
The third-quarter earnings season for S&P 500 companies is now in full swing, and results have so far delivered modestly positive surprises.
In the latest snapshot of the US labour market, October’s nonfarm payroll report disappointed significantly, with just 12,000 jobs added versus an expected 100,000.
Over in Europe, the eurozone economy notched up a 0.4% expansion in the third quarter—double the growth rate seen in Q2 and ahead of the 0.2% consensus forecast.
Eurozone inflation provided another key talking point. Headline inflation ticked up to 2% year-on-year in October, a slight acceleration from 1.7% in September, due in part to last year’s energy price declines dropping out of the comparison.
In the UK, Chancellor of the Exchequer Rachel Reeves unveiled the first Labour budget in 14 years, earmarking an additional £70 billion in spending over the next five years, funded through £40 billion in tax increases and £32 billion in further borrowing.
US equities shed over 1% for the week, reflecting concerns over tech sector valuations and rising bond yields.
Looking to the week ahead, markets will be bracing for several pivotal events likely to drive sentiment.
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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Welcome to this week’s AHR market review for the week ending 27th October 2024.
Global equity markets experienced a sell-off last week amid a flurry of third-quarter corporate earnings announcements, while bond yields continued their upward trajectory, and oil prices saw a strong rally.
As we reach the midway point of third quarter earnings season, a handful of mega-cap technology giants in the U.S. are anticipated to drive the bulk of earnings growth.
Tesla, one of these tech behemoths, led the charge as last week’s top performer in the S&P 500, boosting the broader index and staving off a steeper decline.
Equities in the U.S. slid broadly by 1% over the week, with value and small-cap stocks hit hardest, dropping nearly 3%.
U.S. Treasury yields continued their ascent, with the 10-year note climbing for the fifth time in six weeks.
Finally, crude oil prices in the U.S. rallied almost 5% last week, reaching close to $72 per barrel by Friday afternoon.
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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Welcome to this week’s AHR market review for the week ending 20th October 2024.
Equity markets edged higher over the week as investors navigated a mixed bag of corporate earnings from the US, a rate cut by the European Central Bank (ECB), and a drop in UK inflation.
Nvidia, one of the globe’s top chipmakers, saw its share price surge to an all-time high, pushing its market value to an eye-watering $3.4 trillion.
As anticipated, the ECB lowered its key deposit rate by 25 basis points to 3.25%, marking the first back-to-back rate cut in 13 years.
In the UK, softer-than-expected inflation figures and a dip in wage growth have fuelled speculation that the Bank of England (BoE) will move to cut rates again, with a further 0.25% almost guaranteed at the upcoming November meeting.
Meanwhile, the latest data out of China painted a mixed picture.
US equities rose almost 1% over the week, led by the energy and utilities sector.
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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Welcome to this week’s AHR market review for the week ending 13th October 2024.
The US equity markets surged to fresh record highs this week, while emerging markets, particularly China, saw a pause following their recent rally spurred by stimulus measures.
In the United States, inflation data revealed a modest increase. The consumer price index (CPI) rose by 0.2% in September, matching the previous month’s rise.
On an annual basis, inflation eased to 2.4%—the smallest increase since February 2021—down from a 2.5% rise the previous month.
Also, during the week, earnings season began in earnest, with two major US banks posting strong third-quarter results, helping to lift their shares.
Following the recent rally in Chinese equities, China’s National Development and Reform Commission reiterated its commitment to ramping up countercyclical measures to support growth.
Across global markets, US equities rose more than 1% for the week, led by financial stocks.
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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Welcome to this week’s AHR market review for the week ending 6th October 2024.
Tensions in the Middle East weighed on global equity markets for the week, as energy markets rallied and Chinese equities continued to gain momentum following the recent announcement of stimulus measures from the People’s Bank of China.
In September, the U.S. economy outpaced expectations by generating 254,000 new jobs, well above economists’ forecast of 140,000, marking the strongest performance in six months.
The robust labour market report has sparked speculation over its implications for Federal Reserve policy.
Wage growth, which remains elevated at 4.0% year-on-year, suggests that inflationary pressures are still a concern for policymakers.
US broad equities and technology both etched out small gains for the week, gaining momentum of Friday following the stronger than expected labour market report.
While weighing on sentiment generally, the prospect of a wider war in the Middle East sent oil prices to their highest level in about a month, benefiting energy shares as well.
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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Welcome to this week’s AHR market review for the week ending 29th September 2024.
Global equity markets experienced a buoyant week, bolstered by fresh economic stimulus measures from China and softer-than-expected US inflation figures.
China’s central bank unveiled a series of initiatives designed to revitalise stock markets and provide support to its beleaguered property sector.
In Europe, equity markets notched solid gains, with the broader index reaching its previous highs.
Over in the US, the Federal Reserve's preferred inflation measure, the Personal Consumption Expenditures (PCE) Index, revealed a gradual easing of price pressures.
US equities ended the week with modest gains, extending their winning streak to a third consecutive week. European stocks were buoyed by China’s policy announcements, rising 2.69%, while UK equities posted a gain of over 1%.
Meanwhile, US crude oil prices slid nearly 4% for the week, ending below $69 per barrel by Friday, a sharp drop from July's high of nearly $84, leaving oil prices little changed for the year.
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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Welcome to this week’s AHR market review for the week ending 22nd September 2024.
Global equity markets saw a boost this week after the US Federal Reserve cut its key interest rate for the first time since March 2020.
While equity markets welcomed the rate cut, its scale may indicate a shift in the Fed's priorities—from controlling inflation to supporting economic growth.
Meanwhile, in the UK, the Bank of England (BoE) held its base rate steady at 5.0%, as widely anticipated, with the Monetary Policy Committee voting 8–1 in favour of maintaining the current rate.
UK inflation held steady at 2.2% in August, unchanged from July’s annual rate.
US equities rose around 1.5% for the week, with US technology nearing its historic highs once again.
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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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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Welcome to this week’s AHR market review for the week ending 8th September 2024.
U.S. stock indexes posted some of the steepest weekly declines in more than a year, as employment data from the US stoked economic growth concerns and AI champion Nvidia came under scrutiny from the Justice Department.
The latest U.S. labour market data confirmed a weakening trend. Early signals of this were evident in the job openings figures, which dropped to around 7.7 million, marking the lowest point this year.
The closely watched nonfarm payrolls report echoed this softer trend, showing only 142,000 new jobs in contrast to the anticipated 165,000.
Despite these concerning figures, the report wasn't all doom and gloom.
US equities fell over 4% for the week and US technology over 6% as the US labour data release increased concerns around economic growth.
The price of U.S. crude oil fell nearly 8% for the week to the lowest level in about 14 months, with the commodity trading for around $68 per barrel on Friday afternoon.
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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Welcome to this week’s AHR market review for the week ending 1st September 2024.
Global equity markets etched out modest gains during a week which saw further signs of cooling inflation from the US and Europe, along with an eagerly anticipated earnings announcement from one of the world’s largest companies.
The most closely watched data point was probably the US Labour Department’s release of its core personal consumption expenditures (PCE) price index on Friday morning.
Headline annual inflation in the eurozone also decelerated to 2.2% in August from 2.6% in July, the lowest level in three years and a shade above the ECB’s 2% target. Higher energy costs a year ago were partly responsible for the decline.
In company news, Nvidia published another impressive set of quarterly earnings.
Over the week US equities were slightly positive, up around 0.2% whilst US Technology fell almost 1% driven in part by the volatility of Nvidia following their ‘great’ but ‘not quite good enough’ earnings announcement.
In commodities gold futures pushed their record levels higher for the fifth week in a row, and the commodity briefly topped $2,560 per ounce on Friday morning.
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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Welcome to this week’s AHR market review for the week ending 25th August 2024.
Global markets demonstrated resilience this week, with the S&P 500, NASDAQ, and Dow Jones all advancing by over 1%.
In his speech delivered at the Jackson Hole symposium, Powell signalled a potential shift in monetary policy, stating that "the time has come for policy to adjust."
Across the Atlantic, the Eurozone showed signs of economic momentum, with business activity picking up in August after stagnating in July.
In equity markets, U.S. stocks closed the week 1.4% higher, mirroring gains in European equities, as Powell's speech heightened expectations of an impending interest rate cut.
The increasing anticipation of interest rate cuts contributed to a volatile week for U.S.
In the commodities market, U.S. crude oil prices experienced a dip, with the price per barrel dropping to $71.46 on Wednesday—the lowest level in over six months.
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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Welcome to this weeks AHR market review for the weeks ending the 16th August 2024.
The U.S. stock market saw a rebound, driven by optimistic inflation data and hopes for a potential Federal Reserve interest rate cut in September.
European equities benefitted from the improved sentiment surrounding U.S. inflation data, although economic concerns continued to persist.
In Asia, markets were more mixed. Japan saw a sharp market downturn earlier in the month following a surprise interest rate hike by the Bank of Japan (BOJ), which sent shockwaves across global markets.
In commodities, oil prices continued to fluctuate due to geopolitical factors and supply constraints, especially as Russia and Saudi Arabia extended production cuts.
In summary, the week ended with market recovery in the U.S. and cautious optimism globally.
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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Welcome to this week’s AHR market review, for the week ending 9th August 2024
The global stock markets saw a week of heightened volatility, driven by a mix of economic data releases, central bank actions, and sector-specific developments.
In the United States, the three major indices — the Dow Jones Industrial Average (DJIA), S&P 500, and Nasdaq Composite — showed mixed performances, with only slight changes by the end of the week.
European markets were similarly unstable.
In Asia, the Japanese stock market was notably volatile, with the Nikkei 225 fluctuating throughout the week.
In China, the Shanghai Composite Index ended the week slightly lower as concerns over the country's economic growth continued to weigh on investor sentiment.
Indian markets also faced challenges during the week.
Commodities markets mirrored the unease in equities, with gold prices inching higher as investors sought safe-haven assets, with gold futures trading around $2,470 per ounce by the end of the week.
Overall, the week was characterized by cautious trading as investors grappled with mixed economic signals, central bank actions, and sector-specific developments.
That’s all for this week’s AHR Weekly Podcast. Thank you for listening and for further investment insights head over to ahrprivatewealth.com -
Welcome to this week’s AHR market review for the week ending 4th August 2024.
An eventful week for markets saw a host of central bank rate decisions and volatility towards the back end of the week following unexpected employment data released from the US Labour Department.
The U.S. unemployment rate jumped to near a three-year high of 4.3% in July amid a significant slowdown in hiring, heightening fears the labour market was deteriorating and potentially making the economy vulnerable to a recession.
Whilst earlier in the week the US Federal Reserve meeting went as expected with rates held steady, the Bank of England cut its key interest rate by a quarter point to 5.00%, its first reduction to borrowing costs since the start of the coronavirus pandemic in March 2020.
Companies representing nearly 40% of the S&P 500’s market capitalization reported second-quarter earnings during the week, including four of the Magnificent Seven—Microsoft, Meta Platforms (Facebook), Apple, and Amazon.com.
The US Technology index entered correction territory during the week as it has now fallen 10% from it’s recent high, down 3.4% for the week.
The shifting interest-rate outlook and fresh economic data fuelled a price rally for government bonds, sending the yield of the 10-year U.S.
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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Welcome to this week’s AHR market review for the week ending 28th July 2024.
The S&P 500 and NASDAQ experienced their second consecutive weekly decline amid volatile trading, while the Dow Jones bucked the trend, marking its fourth straight weekly gain.
In a surprising turn, the U.S. economy expanded at a faster-than-expected pace in the second quarter, driven by robust consumer spending and business investment.
The increase in GDP was bolstered by inventory accumulation and heightened government expenditure.
The Commerce Department also released data on core personal consumption expenditures (PCE), excluding food and energy, which rose slightly more than expected by 0.2% in June.
The continued deflationary trend seems to have solidified market expectations for a Federal Reserve interest rate cut in September.
As we progress through the second-quarter earnings season, approximately 41% of S&P 500 companies have reported results, with earnings on track to increase by 9.7% year-on-year, surpassing initial estimates of 9% growth at the end of the first quarter.
The most significant positive earnings surprises are emerging from the financials, energy, and healthcare sectors, rather than technology and other growth sectors.
US equities fell almost 1% for the week whilst US technology dropped off over 2%. As the rotation in US equities continues, US value rose over 0.5%.
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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Welcome to this week’s AHR market review for the week ending 19th July 2024.
Stocks saw their worst week since April with major indexes under pressure amid a massive global software glitch that stranded flights, interrupted health care services, and interfered with business around the world.
A major factor in the underperformance of growth stocks was a sharp decline in chip stocks on following news that the Biden administration had told allies it was considering severe export curbs if companies such as Tokyo Electron and the Netherlands’ ASML Holding continued providing China with access to advanced semiconductor technology
The Russell 2000, an index of small cap stocks, surged 7.7% over the last two weeks.
Perhaps the most notable change last week was the CBOE’s Volatility Index which climbed 32% in a week.
European stocks followed their US counterpart and ended the week lower amid rising tensions between the US and China.
The European Central Bank (ECB) kept its key interest rates unchanged at 3.75%, as expected.
In the UK, headline inflation held steady at 2% in June, partly due to a meaningful decline in energy costs compared with last year.
Japan’s stock markets generated negative returns over the week, with the Nikkei 225 falling 2.7%, and the broader TOPIX Index down 1.2%.
In the currency markets, the US dollar index rose week over week against a basket of major currencies.
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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Welcome to this week’s AHR market review for the week ending 14th July 2024.
The U.S. large-cap value stock index outperformed its growth benchmark counterpart for the week, eroding some of the growth style’s wide margin of year-to-date outperformance.
A major factor supporting many stocks appeared to be Thursday’s release of the US Labor Department’s consumer price index (CPI).
A driver of European stock performance in recent weeks has been local elections and during the week the second and final round of voting in France’s parliamentary elections delivered a hung parliament.
US value stocks delivered the strongest returns across US markets for the week posting a return of over 1.5% whilst broad US equities returned just under 1%. European equities ended the week 1.5% higher as investors welcomed lower-than-expected U.S.
Yields of government bonds dropped, as investors took Thursday’s inflation report as an indication that interest-rate cuts could be coming sooner rather than later.
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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