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AHR Weekly Market Update - Monday 21st October
Manage episode 446250935 series 2891086
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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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