- The UK stock-market was slightly higher over the week and European stocks were little changed.
- Concerns remain regarding the spread of the Covid delta variant but these are not weighing heavier on markets currently than positive economic news. Data showed that the eurozone grew by a faster-than-expected 2% in the second quarter.
- However, data also showed that Euro area inflation accelerated to 2.2% in July.
- Our Breadth indicator stayed positive but our Momentum Indicator ticked lower again.
UK Market 30th July 2021
- The US stock-market was slightly lower last week.
- The Fed finished its two day meeting on Wednesday and kept its benchmark interest rate unchanged. In it’s post-meeting statement the Fed said “the path of the economy continues to depend on the course of the virus” and “risks to the economic outlook remain”. Fed Chair Powell reiterated the message that the US economy is still “a ways off” from “substantial further progress” required to begin tapering.
- In the second quarter, US GDP expanded at an annual rate of 6.5%, less than the 8.5% estimated.
- It was a busy week for earnings reports and 87% of the S&P 500 companies that have reported have beaten estimates.
- Our Breadth Indicator stayed negative and our Momentum Indicator ticked lower again.
US Market 30th July 2021
The Big Picture 30th July 2021
Market Sentiment 30th July 2021
U.S. Risk Barometer 30th July 2021
Europe Risk Barometer 30th July 2021
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This communication is not intended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sell investments.’