Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
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Weekly wrap: AI exuberance and political turmoil
Søren Otto Simonsen
Senior Investment Editor
Dear reader,
A week of yet more AI exuberance, political turmoil and even a rate cut is drawing to it’s close.
Nvidia started the week by becoming the most valuable company in the world and boosting the S&P500 to new record highs as the breadth of the US equity markets continues to contract while raising concerns among some technical analysts. Meanwhile, in Europe, the effects of the snap election called by President Macron has put pressure on French government bonds and turned the CAC 40 into the worst performing stock index of 2024 and in Switzerland the SNB went ahead and cut interest rates by 0.25%. In Japan, currency intervention moves ever closer as the Yen weaken above 159 vs the US dollar.
Looking ahead
There is a lot of macro data points to watch for next week which can help the markets predict the timing of future rate cuts. Inflation data from Japan and France and Consumer Confidence in the US are among the most interesting.
While in the equity markets, earnings releases from Micron, Nike and Fed-Ex will be closely watched with shares in Micron up more than 60% year-to-date and Fed-Ex’s performance serving as a proxy for general business activity within the economy.
Stay ahead by visiting our inspiration pages for insights to guide your next investment or keep track of financial events in our calendar.
We wish you a successful week in the financial markets and beyond.
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