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Australian equities closed the week on a positive note, with the ASX 200 gaining 0.7%. This performance was bolstered by strong showings in the Energy and Materials sectors, which rose by 4.1% and 3.3% respectively. The rally in commodities following a cooler-than-expected US ISM report contributed significantly to this rise. <\/p>\n
The Reserve Bank of Australia’s (RBA) June meeting minutes revealed that the board had considered further tightening before ultimately leaving rates unchanged at a 12-year high of 4.35%. The RBA reiterated its commitment to returning inflation to the 2-3% target, keeping the possibility of a rate hike in August open.<\/p>\n
In the United States, equity markets experienced a robust performance during the holiday-shortened week. The S&P 500, Dow Jones, and Nasdaq all recorded gains, with the S&P 500 closing above the 5,500 mark for the first time, driven by significant advances in big tech stocks.<\/p>\n
Despite the mixed economic data, including lower-than-expected ADP private payrolls and initial jobless claims pointing to a labour market slowdown, investor sentiment remained buoyant. The Federal Reserve’s latest meeting minutes suggested a cautious approach to future interest rate cuts, emphasising a wait-and-see strategy amidst diminishing price pressures.<\/p>\n
European equities saw a recovery, with key indices such as the Euro Stoxx 50, EuroStoxx 600, and FTSE all finishing higher. France’s CAC 40 index led the charge, boosted by the positive outlook from the French parliamentary election polls. European Central Bank President Christine Lagarde indicated that more time was needed to assess inflation trends before making any further policy decisions.<\/p>\n
Meanwhile, in Asia, Japanese markets enjoyed a strong week, with the Nikkei reaching record highs. A weak yen and robust performance from blue-chip companies contributed to this rise.<\/p>\n
Published 9\/7\/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":" Australian equities closed the week on a positive note, with the ASX 200 gaining 0.7%. This performance was bolstered by strong showings in the Energy and Materials sectors, which rose by 4.1% and 3.3% respectively. The rally in commodities following a cooler-than-expected US ISM report contributed significantly to this rise.<\/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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