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The Australian equities market closed the week on a high note, with the ASX 200 up 1.8%, reaching a record close of 7,959.3 points. This surge was driven by positive US inflation and employment data, signalling potential interest rate relief in the US. Notably, the Commonwealth Bank of Australia overtook BHP to become the most valuable public company for the first time since November 2021. <\/span>The week saw strong performances in eight out of the eleven major sectors, with Discretionary and Real Estate leading the gains. Utilities and Materials were the weakest performers.<\/span>\u00a0<\/span><\/p>\n US equity markets also showed gains, with the S&P 500, Nasdaq, and Dow Jones up 0.9%, 0.2%, and 1.6% respectively. The US headline CPI fell by 0.1% from May to June, the lowest since April 2021, indicating a steady return to disinflation. Additionally, June’s employment data showed a cooling labour market with unemployment rising to 4.1%. These factors strengthen the case for potential interest rate cuts. Across the Atlantic, European markets also finished positively, with major indices like the Euro Stoxx 50 and FTSE benefiting from the optimism surrounding potential US interest rate cuts.<\/span>\u00a0<\/span><\/p>\n In Asia, China’s markets experienced a positive week with the Hang Seng and Shanghai Composite up 2.8% and 0.7% respectively. The China Securities Regulatory Commission took measures to discourage aggressive selling by suspending securities re-lending and raising margin requirements for short sellers. Additionally, China reported better-than-expected export figures for June, despite weak imports. Meanwhile, Japan\u2019s Nikkei saw a slight increase of 0.7% for the week. However, the yen’s strength following US inflation data and concerns about potential government intervention in the currency market created some volatility.<\/span>\u00a0<\/span><\/p>\n <\/p>\n Published 16\/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":" The Australian equities market closed the week on a high note, with the ASX 200 up 1.8%, reaching a record close of 7,959.3 points. This surge was driven by positive US inflation and employment data, signalling potential interest rate relief in the US. Notably, the Commonwealth Bank of Australia overtook BHP to become the most […]<\/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":[]}
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