{"id":11172,"date":"2024-09-16T23:24:05","date_gmt":"2024-09-16T13:24:05","guid":{"rendered":"https:\/\/investors-admin.raizinvest.com.au\/?p=11172"},"modified":"2024-09-23T11:37:56","modified_gmt":"2024-09-23T01:37:56","slug":"market-update-17-september-2024","status":"publish","type":"post","link":"https:\/\/raizinvest.com.au\/investors\/blog\/market-update-17-september-2024\/","title":{"rendered":"Market update: 17 September 2024"},"content":{"rendered":"<p><img class=\"size-full wp-image-11173 aligncenter\" src=\"http:\/\/investors-admin.raizinvest.com.au\/wp-content\/uploads\/2024\/09\/12.png\" alt=\"\" width=\"1050\" height=\"525\" srcset=\"https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2024\/09\/12.png 1050w, https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2024\/09\/12-640x320.png 640w, https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2024\/09\/12-1024x512.png 1024w, https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2024\/09\/12-320x160.png 320w\" sizes=\"(max-width: 1050px) 100vw, 1050px\" \/><\/p>\n<p><span data-contrast=\"auto\">This week, Australian markets demonstrated a solid performance, with the ASX 200 rising by 1.1%. Materials led the way with a notable 4.2% increase, buoyed by renewed optimism around potential stimulus measures from China. Lithium stocks enjoyed a rebound from recent lows due to supply cuts, while fears of supply restrictions from Russia impacted uranium, nickel, and titanium markets positively. Oil prices also saw an uptick, supported by output disruptions in the US Gulf of Mexico. The Financials sector lagged slightly, down 0.8%, as investors took profits after a strong run of fresh peaks in the major banks.<\/span><\/p>\n<p><!--more--><\/p>\n<p>&nbsp;<\/p>\n<h3>Strong global rebound<\/h3>\n<p><span data-contrast=\"auto\">Globally, the US markets experienced a robust comeback, with the S&amp;P 500, Dow Jones, and Nasdaq climbing by 4.0%, 2.6%, and 6.0% respectively. Small-cap stocks particularly stood out with a 4.4% gain. The anticipation of a 50<\/span><span data-contrast=\"auto\">&#8211;<\/span><span data-contrast=\"auto\">basis point rate cut in September is increasingly shaping market expectations. August\u2019s Core CPI data was stronger than anticipated, however not worrisome as the price of core goods fell more than expected. Next week\u2019s Federal Open Market Committee (FOMC) meeting will be top of mind for investors as they look for greater clarity on the rate cutting cycle.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">&nbsp;<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3>European markets reflect optimism<\/h3>\n<p><span data-contrast=\"auto\">European markets also saw positive movement, with the Euro Stoxx 50, Euro Stoxx 600, and FTSE rising by 2.2%, 1.9%, and 1.1% respectively. The European Central Bank\u2019s delivered an expected rate cut, citing a data-dependent approach to future monetary policy. In the UK, cooler pay growth figures have raised hopes for further rate cuts by the Bank of England later this year.<br \/>\n<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3>Asian markets diverge amid regional developments<\/h3>\n<p><span data-contrast=\"auto\">In Asia, Greater China and Hong Kong markets faced a downward trend this week. The Shanghai Composite and Hang Seng Index fell by 2.2% and 0.4% respectively, as investors reduced holdings ahead of the Mid-Autumn Festival holidays. However, reports of a potential rate cut on outstanding mortgages in China lifted the mainland property index on Friday. In Hong Kong, positive expectations of a Fed rate cut and inflows following Alibaba\u2019s inclusion in the Stock Connect program helped the Hang Seng perform relatively better than its mainland counterparts.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">In contrast, Japanese stocks experienced a modest gain, with the Nikkei advancing by 0.5%. A hawkish statement from a Bank of Japan policymaker, advocating for a rate increase to at least 1% in the second half of the next fiscal year, reinforced the bank\u2019s commitment to ongoing monetary tightening.<\/span><\/p>\n<p>&nbsp;<\/p>\n<hr>\n<p>&nbsp;<\/p>\n<h3>Don\u2019t have the Raiz App?<\/h3>\n<p>Download it for free in the App store or the Webapp below:<\/p>\n<figure id=\" attachment_3372\" =\"\"=\"\" class=\"wp-caption aligncenter\">\n<figure id=\"attachment_3372\" aria-describedby=\"caption-attachment-3372\" style=\"width: 351px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/3yef.adj.st\/home?adj_t=4emcfc6_1okyyjf&amp;adj_deep_link=raiz%3A%2F%2Fhome&amp;adj_fallback=https%3A%2F%2Fapp.raizinvest.com.au%2F\"><img class=\"wp-image-3372 size-full\" src=\"https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2018\/08\/download-app.png\" sizes=\"(max-width: 351px) 100vw, 351px\" srcset=\"https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2018\/08\/download-app.png 351w, https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2018\/08\/download-app-320x77.png 320w\" alt=\"download-raiz-app\" width=\"351\" height=\"84\"><\/a><figcaption id=\"caption-attachment-3372\" class=\"wp-caption-text\"><span style=\"text-decoration: underline;\"><a href=\"https:\/\/3yef.adj.st\/home?adj_t=4emcfc6_1okyyjf&amp;adj_deep_link=raiz%3A%2F%2Fhome&amp;adj_fallback=https%3A%2F%2Fapp.raizinvest.com.au%2F\">Click to download the Raiz app<\/a><\/span><\/figcaption><\/figure>\n<p><strong><em>Important Information<\/em><\/strong><\/p>\n<p><em>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<p><em>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<p><em><span class=\"TextRun SCXW253216531 BCX0\" lang=\"EN-AU\" xml:lang=\"EN-AU\" data-contrast=\"none\"><span class=\"NormalTextRun CommentStart CommentHighlightPipeRestV2 CommentHighlightRest SCXW253216531 BCX0\" data-ccp-charstyle=\"Emphasis\">T<\/span><span class=\"NormalTextRun CommentHighlightRest SCXW253216531 BCX0\" data-ccp-charstyle=\"Emphasis\">he information is general information only and does not <\/span><span class=\"NormalTextRun AdvancedProofingIssueV2Themed CommentHighlightRest SCXW253216531 BCX0\" data-ccp-charstyle=\"Emphasis\">take into account<\/span><span class=\"NormalTextRun CommentHighlightRest SCXW253216531 BCX0\" data-ccp-charstyle=\"Emphasis\"> of your personal financial situation, <\/span><span class=\"NormalTextRun CommentHighlightRest SCXW253216531 BCX0\" data-ccp-charstyle=\"Emphasis\">goals<\/span><span class=\"NormalTextRun CommentHighlightRest SCXW253216531 BCX0\" data-ccp-charstyle=\"Emphasis\"> or needs. You should obtain financial advice tailored to your circumstances by a licensed <\/span><span class=\"NormalTextRun CommentHighlightRest SCXW253216531 BCX0\" data-ccp-charstyle=\"Emphasis\">financial <\/span><span class=\"NormalTextRun CommentHighlightRest SCXW253216531 BCX0\" data-ccp-charstyle=\"Emphasis\">adviser<\/span><span class=\"NormalTextRun CommentHighlightRest SCXW253216531 BCX0\" data-ccp-charstyle=\"Emphasis\">.<\/span><\/span><span class=\"EOP CommentHighlightPipeRestV2 SCXW253216531 BCX0\" data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335557856&quot;:16777215,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/em><\/p>\n<p><em>A Product Disclosure Statement (<strong>PDS<\/strong>) and Target Market Determination (<strong>TMD<\/strong>) for Raiz Invest Australia Fund, Raiz Invest Super and Raiz Property Fund (together, the <strong>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<p><em>Any returns shown or implied are not forecasts and are not reliable guides or predictors of future performance.<\/em><\/p>\n<p><em>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<p><em>This information may be based on assumptions or market conditions which change without notice and have not been independently verified.<\/em><\/p>\n<p><em>Any opinions or information expressed are subject to change without notice.<\/em><\/p>\n<p><em>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<p><em>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><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>This week, Australian markets demonstrated a solid performance, with the ASX 200 rising by 1.1%. Materials led the way with a notable 4.2% increase, buoyed by renewed optimism around potential stimulus measures from China. Lithium stocks enjoyed a rebound from recent lows due to supply cuts, while fears of supply restrictions from Russia impacted uranium, [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[4511,4525,19,1,20],"tags":[],"yst_prominent_words":[95,112,3807,132,123,117,3945,3808,3806,3799,125,122,120,239,4779,1633]}