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AHR Weekly Market Update - Monday 7th October
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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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