AHR Weekly Market Update - Monday 23rd July
Manage episode 430318612 series 2891086
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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