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AHR Weekly Market Update - Monday 11th September
Manage episode 376653842 series 2891086
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On this week’s AHR Market review..
In a reversal of last week’s opening, this week was one in which we saw good news for the economy being digested as bad news for markets.
U.S. stocks on Wednesday sustained their biggest setback of a holiday-shortened week after an economic report fuelled fears that inflationary pressures could be regaining momentum, potentially leading to further interest-rate increases.
In corporate news, a decline in Apple, the most heavily weighted stock in the S&P 500 Index, drove part of the market declines after news that Chinese government employees would no longer be able to use iPhones.
In the UK, Governor Andrew Bailey said on Wednesday, the Bank of England is "much nearer" to ending its run of interest rate increases but borrowing costs might still have further to rise because of stubborn inflation pressures.
The US jobless numbers sparked a rise in short-term bond yields, with the yield on the two-year U.S.
In equities, the major U.S. stock indexes fell between 1% to 2%, giving up most of the ground they had gained in the previous week.
Meanwhile in commodities, the price of U.S. crude oil rose on Friday to the highest level since last November, eclipsing $87 per barrel.
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