US stock markets took a breather after a 6-week ascent, shifting focus on to the upcoming election and its potential impact on the economy. In China, a slew of stimulus measures by the authorities is giving rise to cautious optimism, but challenges remain.
Month: October 2024
Weekly Newsletter – 11th October , 2024
Dear Mr. Investor,
US stocks continued to hit new all-time highs, with the S&P 500 closing above 5,800 for the first time. Consumer prices for September came in hotter than expected, and the market is now pricing in an 89% probability of a 25 basis point reduction in November. In corporate news, Tesla’s stock fell over 8% amid disappointment regarding its robotaxi rollout, while JPMorgan Chase reported strong net interest income, investment and trading revenue.
Please find enclosed our weekly newsletter.
Regards,
Asas Capital Team
Weekly Newsletter – 4th October , 2024
In September, US nonfarm payrolls surged by 254,000, exceeding expectations, while the unemployment rate fell to 4.1%, leading to expectations of a more gradual cut in interest rates by the Fed. Meanwhile, geopolitical tensions spiked as Iran launched missile attacks on Israel, heightening fears of a broader Middle East conflict. Global markets, including European, Indian, and Gulf stock exchanges, were impacted by rising oil prices and economic uncertainty
Weekly Newsletter – 27th September , 2024
Stocks ended the week on a high, boosted by a favorable inflation report and strong economic growth data. Tech stocks saw mixed results as Nvidia faced some setbacks, while Micron and Intel rose on positive earnings and funding news. Beijing introduced a plethora of measures to stimulate its economy, lifting mainland stocks. Oil prices dropped following Saudi Arabia’s decision to increase output.