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In Australia, the ASX 200 faced a challenging week, closing down 0.3% despite a late rebound on Friday. The initial sell-off was triggered by a hotter-than-expected CPI print, where April consumer prices rose 3.6% year-on-year, surpassing estimates of 3.4%. This prompted a re-evaluation of inflation expectations and market sentiment. The week saw mixed performances across sectors, with Utilities and Materials dragging the index down, while Consumer Staples and Discretionary sectors showed resilience, posting gains of 1.0% and 0.8% respectively.<\/p>\n
US markets also ended in the red, with the Nasdaq, Dow Jones, and S&P 500 down 1.1%, 1.0%, and 0.5% respectively. The latest data showed that headline Personal Consumption Expenditure (PCE), the Fed’s preferred inflation measure, aligned with expectations, while GDP growth slowed due to softer consumer spending. Despite this, ten-year US Treasury yields climbed, reflecting market expectations of a rate cut by the end of 2024. Notably, the S&P 500\u2019s performance in the first 100 days of 2024 has been robust, suggesting a positive outlook for the rest of the year based on historical trends.<\/p>\n
In Europe, the Euro Stoxx 50 and other major indices saw declines as well, influenced by shifting expectations regarding Fed rate cuts. However, the ECB appears poised for a potential rate cut in June, driven by a weaker growth trajectory and core inflation nearing the 2% target. This divergence in monetary policy outlooks between the Fed and ECB underscores varying economic conditions across the Atlantic. Meanwhile, in Asia, Chinese and Hong Kong markets dipped on disappointing PMI figures, indicating a contraction in factory activity, while Japanese markets showed mixed reactions to economic data, with retail sales up but industrial production down.<\/p>\n
Overall, while the markets faced a series of challenges this week, the underlying trends and historical data offer a cautiously optimistic outlook for the remainder of the year.<\/p>\n
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Published 4\/6\/2024<\/em><\/p>\n <\/p>\n Download it for free in the App store or the Webapp below:<\/p>\n <\/p>\n Important Information<\/em><\/strong><\/p>\n Raiz Invest Australia Limited \u2013 Authorised Representative of AFSL 434776. The Raiz Invest Australia Fund and Raiz Property Fund are issued in Australia by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) a subsidiary of Raiz Invest Limited and promoted by Raiz Invest Australia Limited (ACN 604 402 815).<\/em><\/p>\n Raiz Invest Super is a Division of AMG Super and is issued by Equity Trustees Superannuation Limited (AFSL 229757, RSE Licence No L0001458) as Trustee of AMG Super.<\/em><\/p>\n T<\/span>he information is general information only and does not <\/span>take into account<\/span> of your personal financial situation, <\/span>goals<\/span> or needs. You should obtain financial advice tailored to your circumstances by a licensed <\/span>financial <\/span>adviser<\/span>.<\/span><\/span>\u00a0<\/span><\/em><\/p>\n A Product Disclosure Statement (PDS<\/strong>) and Target Market Determination (TMD<\/strong>) for Raiz Invest Australia Fund, Raiz Invest Super and Raiz Property Fund (together, the Products<\/strong>) are available on the Raiz Invest website and App. Please read and consider the PDS and TMD to understand the risks and determine if the Products are suitable for you. The risks and fees are fully set out in the PDS and include the risks that would ordinarily apply to investing.<\/em><\/p>\n Any returns shown or implied are not forecasts and are not reliable guides or predictors of future performance.<\/em><\/p>\n Under no circumstance is the information to be used by, or presented to, a person for the purposes of deciding about investing in the Products.<\/em><\/p>\n This information may be based on assumptions or market conditions which change without notice and have not been independently verified.<\/em><\/p>\n Any opinions or information expressed are subject to change without notice.<\/em><\/p>\n Home loans are subject to approval from the lending institution and Raiz Home Ownership makes no warranties as to the success of an application until all relevant information has been provided.<\/em><\/p>\n Raiz Home Ownership Pty Ltd (ABN 14 645 876 937), an Australian Credit Representative number 528594 under Australian Credit Licence number 387025. Raiz Home Ownership Pty Ltd is 100% owned by Raiz Invest Australia Limited (ABN 26 604 402 815).<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" In Australia, the ASX 200 faced a challenging week, closing down 0.3% despite a late rebound on Friday. The initial sell-off was triggered by a hotter-than-expected CPI print, where April consumer prices rose 3.6% year-on-year, surpassing estimates of 3.4%. This prompted a re-evaluation of inflation expectations and market sentiment.<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1],"tags":[],"yst_prominent_words":[]}Don\u2019t have the Raiz App?<\/h3>\n
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